Hagerty, Inc. (NYSE:HGTY) Given Consensus Rating of “Hold” by Analysts

Hagerty, Inc. (NYSE:HGTY) has been assigned a consensus recommendation of “Hold” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $13.6667.

A number of research firms have weighed in on HGTY. Keefe, Bruyette & Woods boosted their target price on shares of Hagerty from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Weiss Ratings upgraded shares of Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. Truist Financial lowered their price target on shares of Hagerty from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, May 11th. JPMorgan Chase & Co. upped their price objective on Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen raised Hagerty from a “sell” rating to a “hold” rating in a report on Saturday, July 4th.

Hagerty Trading Up 1.0%

Shares of Hagerty stock opened at $11.67 on Friday. The firm has a market cap of $4.01 billion, a PE ratio of 58.34 and a beta of 0.79. Hagerty has a 1 year low of $8.81 and a 1 year high of $14.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.65 and a quick ratio of 1.65. The stock has a fifty day moving average price of $11.24 and a 200-day moving average price of $11.29.

Hagerty (NYSE:HGTY) last issued its quarterly 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). Hagerty had a return on equity of 11.94% and a net margin of 5.11%.The company had revenue of $311.83 million during the quarter, compared to analysts’ expectations of $284.88 million. Equities research analysts anticipate that Hagerty will post -0.1 EPS for the current year.

Insider Activity at Hagerty

In other news, CAO Kevin M. Delaney sold 9,440 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $12.10, for a total transaction of $114,224.00. Following the transaction, the chief accounting officer owned 89,610 shares of the company’s stock, valued at $1,084,281. This represents a 9.53% decrease in their position. The sale was disclosed in a 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. Over the last 90 days, insiders sold 13,458 shares of company stock worth $163,227. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hagerty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lincoln Capital LLC lifted its holdings in Hagerty by 2.4% during the second quarter. Lincoln Capital LLC now owns 973,651 shares of the company’s stock valued at $11,606,000 after purchasing an additional 22,999 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Hagerty by 107.4% during the first quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock worth $32,000 after purchasing an additional 1,591 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Hagerty in the first quarter worth about $115,000. Renaissance Technologies LLC increased its stake in shares of Hagerty by 79.2% in the first quarter. Renaissance Technologies LLC now owns 157,668 shares of the company’s stock worth $1,660,000 after purchasing an additional 69,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Hagerty by 49.5% in the first quarter. Dimensional Fund Advisors LP now owns 271,346 shares of the company’s stock valued at $2,857,000 after purchasing an additional 89,898 shares during the period. 20.51% of the stock is currently owned by institutional investors.

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.