Hagerty (NYSE:HGTY) Insider Kenneth Ahn Sells 164,870 Shares

Hagerty, Inc. (NYSE:HGTY) insider Kenneth Ahn sold 164,870 shares of Hagerty stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $12.79, for a total transaction of $2,108,687.30. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Kenneth Ahn also recently made the following trade(s):

• On Wednesday, January 7th, Kenneth Ahn sold 24,247 shares of Hagerty stock. The shares were sold at an average price of $13.08, for a total transaction of $317,150.76.
• On Tuesday, January 6th, Kenneth Ahn sold 10,883 shares of Hagerty stock. The stock was sold at an average price of $12.85, for a total transaction of $139,846.55.

Hagerty Trading Up 1.1%

Shares of NYSE:HGTY opened at $13.12 on Thursday. The company has a 50 day moving average of $12.94 and a 200-day moving average of $11.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.17. The firm has a market cap of $4.49 billion, a P/E ratio of 46.86 and a beta of 0.89. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $14.00.

Hagerty (NYSE:HGTY) last announced its earnings results on Tuesday, November 4th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.09 by $0.04. The firm had revenue of $359.01 million for the quarter, compared to analysts’ expectations of $354.36 million. Hagerty had a return on equity of 16.85% and a net margin of 5.85%. As a group, analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HGTY. Bank of America Corp DE boosted its stake in Hagerty by 46.6% in the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock worth $87,000 after purchasing an additional 2,726 shares during the period. IFP Advisors Inc purchased a new stake in shares of Hagerty in the second quarter valued at $30,000. BNP Paribas Financial Markets boosted its position in shares of Hagerty by 165.3% in the third quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock worth $62,000 after buying an additional 3,197 shares during the period. Osaic Holdings Inc. boosted its position in shares of Hagerty by 2,374.5% in the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock worth $50,000 after buying an additional 4,749 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Hagerty by 2.0% in the second quarter. Geode Capital Management LLC now owns 254,634 shares of the company’s stock worth $2,576,000 after buying an additional 5,077 shares during the period. 20.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HGTY shares. Wells Fargo & Company initiated coverage on Hagerty in a research note on Friday, October 3rd. They set an “equal weight” rating and a $13.00 target price for the company. Wall Street Zen raised shares of Hagerty from a “hold” rating to a “buy” rating in a report on Sunday, November 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Hagerty in a research report on Monday, December 29th. JPMorgan Chase & Co. lifted their price objective on shares of Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, JMP Securities began coverage on shares of Hagerty in a research note on Wednesday, October 1st. They set a “market outperform” rating and a $15.00 target price for the company. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.13.

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.