Hagerty (HGTY) to Release Earnings on Tuesday

Hagerty (NYSE:HGTY) will be releasing its earnings data before the market opens on Tuesday, May 7th. Analysts expect Hagerty to post earnings of $0.03 per share for the quarter. Hagerty has set its FY 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Hagerty (NYSE:HGTY) last issued its earnings results on Tuesday, March 12th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Hagerty had a net margin of 1.84% and a return on equity of 4.53%. The business had revenue of $245.04 million for the quarter, compared to the consensus estimate of $245.17 million. On average, analysts expect Hagerty to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Hagerty Trading Up 2.2 %

Shares of HGTY stock traded up $0.19 during mid-day trading on Tuesday, reaching $8.92. The company’s stock had a trading volume of 2,102 shares, compared to its average volume of 53,142. The company’s 50 day simple moving average is $8.81 and its 200-day simple moving average is $8.37. Hagerty has a 12-month low of $7.52 and a 12-month high of $10.36. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2.99 billion, a PE ratio of 125.14 and a beta of 0.77.

Insider Transactions at Hagerty

In other news, Director Robert I. Kauffman sold 3,036 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $9.07, for a total value of $27,536.52. Following the completion of the sale, the director now owns 3,421,036 shares of the company’s stock, valued at approximately $31,028,796.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert I. Kauffman sold 3,036 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $9.07, for a total value of $27,536.52. Following the completion of the sale, the director now owns 3,421,036 shares of the company’s stock, valued at approximately $31,028,796.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert I. Kauffman sold 2,848 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $9.08, for a total transaction of $25,859.84. Following the completion of the sale, the director now directly owns 3,447,059 shares of the company’s stock, valued at approximately $31,299,295.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,943 shares of company stock valued at $162,121. Insiders own 17.90% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. began coverage on shares of Hagerty in a research report on Thursday, January 11th. They issued a “neutral” rating and a $9.00 target price for the company.

About Hagerty

Hagerty, Inc provides insurance agency services worldwide. It offers motor vehicle and boat insurance products; and reinsurance products. The company provides Hagerty Media, which publishes contents through the Hagerty Drivers Club Magazine (HDC), video content, and social media channels; HDC that offers subscription based products and services, including HDC Magazine, automotive enthusiast events, proprietary vehicle valuation tools, emergency roadside services, and special vehicle-related discounts.