Insider Selling: Hagerty (NYSE:HGTY) CAO Sells 9,440 Shares

Hagerty, Inc. (NYSE:HGTY) CAO Kevin Delaney sold 9,440 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $12.10, for a total value of $114,224.00. Following the completion of the transaction, the chief accounting officer owned 89,610 shares in the company, valued at approximately $1,084,281. This trade represents a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hagerty Stock Performance

Shares of HGTY traded up $0.28 during trading hours on Thursday, hitting $12.34. The stock had a trading volume of 130,491 shares, compared to its average volume of 157,362. The firm has a market capitalization of $4.24 billion, a PE ratio of 61.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.65 and a quick ratio of 1.65. Hagerty, Inc. has a 12 month low of $8.81 and a 12 month high of $14.00. The stock has a fifty day moving average price of $10.67 and a 200 day moving average price of $11.43.

Hagerty (NYSE:HGTY) last posted its earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). The firm had revenue of $311.83 million during the quarter, compared to the consensus estimate of $284.88 million. Hagerty had a net margin of 5.11% and a return on equity of 11.94%. Analysts anticipate that Hagerty, Inc. will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. UBS Group set a $14.00 target price on shares of Hagerty in a research report on Wednesday, June 10th. Truist Financial dropped their price target on shares of Hagerty from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. Weiss Ratings raised shares of Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Wells Fargo & Company decreased their target price on Hagerty from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Hagerty in a research report on Wednesday, June 10th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $13.44.

Institutional Trading of Hagerty

Several institutional investors have recently made changes to their positions in HGTY. Neuberger Berman Group LLC boosted its stake in Hagerty by 44.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 8,047,786 shares of the company’s stock worth $96,895,000 after purchasing an additional 2,490,359 shares during the period. Greenhaven Road Investment Management L.P. raised its position in shares of Hagerty by 47.1% during the third quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock valued at $32,084,000 after buying an additional 853,245 shares during the last quarter. TD Asset Management Inc bought a new stake in shares of Hagerty during the third quarter valued at approximately $1,058,000. Bristlecone Value Partners LLC purchased a new position in shares of Hagerty in the fourth quarter worth $779,000. Finally, Yorktown Management & Research Co Inc bought a new position in shares of Hagerty during the fourth quarter worth $270,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Hagerty Company Profile

Hagerty is a specialized automotive lifestyle and insurance company that caters primarily to collectible car enthusiasts. Its core business centers on offering classic vehicle insurance policies designed to protect antique, vintage and specialty automobiles, motorcycles and boats. These policies typically feature agreed-value coverage, flexible usage options and access to restoration services, aligning with the unique needs of collectors and hobbyists.

Beyond insurance, Hagerty operates a comprehensive suite of community and content services under its automotive lifestyle brand.