Hagerty, Inc. $HGTY Stock Position Increased by Lincoln Capital LLC

Lincoln Capital LLC grew its holdings in shares of Hagerty, Inc. (NYSE:HGTY) by 38.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,350,809 shares of the company’s stock after acquiring an additional 377,158 shares during the quarter. Hagerty comprises 3.2% of Lincoln Capital LLC’s investment portfolio, making the stock its 10th largest position. Lincoln Capital LLC owned about 0.39% of Hagerty worth $18,209,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC purchased a new stake in Hagerty during the second quarter valued at $170,000. Integrated Wealth Concepts LLC acquired a new position in Hagerty in the 2nd quarter worth approximately $63,000. Waverly Advisors LLC purchased a new stake in Hagerty during the 2nd quarter valued at about $179,000. Ancora Advisors LLC purchased a new stake in shares of Hagerty in the 2nd quarter valued at $28,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Hagerty by 107.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock worth $32,000 after acquiring an additional 1,591 shares in the last quarter. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Hagerty Stock Performance

HGTY traded up $0.02 on Friday, hitting $14.22. 219,551 shares of the stock traded hands, compared to its average volume of 220,295. The business has a fifty day moving average price of $13.32 and a two-hundred day moving average price of $11.82. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $4.88 billion, a PE ratio of 157.96 and a beta of 0.83. Hagerty, Inc. has a 52 week low of $9.36 and a 52 week high of $14.36.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.07. Hagerty had a net margin of 1.81% and a return on equity of 5.15%. The firm had revenue of $354.82 million for the quarter, compared to analysts’ expectations of $316.21 million. On average, research analysts predict that Hagerty, Inc. will post 0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on HGTY. Weiss Ratings raised Hagerty from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Zacks Research upgraded Hagerty from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. lifted their target price on Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Wells Fargo & Company lifted their target price on shares of Hagerty from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Finally, Wall Street Zen raised shares of Hagerty from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Hagerty has an average rating of “Moderate Buy” and a consensus price target of $13.80.

Insider Transactions at Hagerty

In other news, major shareholder Holding Corp. Hagerty sold 1,387,500 shares of the stock in a transaction on Friday, September 11th. The stock was sold at an average price of $11.47, for a total value of $15,914,625.00. Following the completion of the transaction, the insider directly owned 9,250,000 shares in the company, valued at approximately $106,097,500. This represents a 13.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is owned by insiders.

Hagerty Profile

Hagerty, Inc (NYSE: HGTY) is an automotive enthusiast company focused on protecting, valuing and celebrating collectible vehicles. Its primary business is specialty insurance for classic, vintage, exotic and other enthusiast vehicles, supported by coverage options and services designed for vehicles that may be driven less frequently or require specialized valuation.

The company also provides vehicle valuation tools, automotive media and content, membership programs, events, and enthusiast experiences.