Hagerty (NYSE:HGTY) Insider Kenneth Ahn Sells 50,000 Shares

Hagerty, Inc. (NYSE:HGTY) insider Kenneth Ahn sold 50,000 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $12.41, for a total value of $620,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, January 20th, Kenneth Ahn sold 50,000 shares of Hagerty stock. The shares were sold at an average price of $12.55, for a total value of $627,500.00.
• On Monday, January 12th, Kenneth Ahn sold 50,000 shares of Hagerty stock. The stock was sold at an average price of $12.86, for a total value of $643,000.00.
• On Friday, January 9th, Kenneth Ahn sold 1,350 shares of Hagerty stock. The stock was sold at an average price of $13.25, for a total transaction of $17,887.50.
• On Monday, January 5th, Kenneth Ahn sold 164,870 shares of Hagerty stock. The shares were sold at an average price of $12.79, for a total transaction of $2,108,687.30.
• On Wednesday, January 7th, Kenneth Ahn sold 24,247 shares of Hagerty stock. The stock was 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 shares were sold at an average price of $12.85, for a total transaction of $139,846.55.

Hagerty Stock Down 3.0%

Hagerty stock traded down $0.38 during trading on Tuesday, reaching $12.12. 161,176 shares of the company’s stock were exchanged, compared to its average volume of 112,028. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week high of $14.00. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 43.29 and a beta of 0.89. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.00 and a current ratio of 1.00. The company’s 50-day moving average is $13.04 and its two-hundred day moving average is $12.01.

Hagerty (NYSE:HGTY) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.09 by $0.04. Hagerty had a return on equity of 16.85% and a net margin of 5.85%.The company had revenue of $359.01 million for the quarter, compared to analyst estimates of $354.36 million. On average, analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on HGTY. Citigroup began coverage on Hagerty in a report on Wednesday, October 1st. They issued an “outperform” rating for the company. Wall Street Zen upgraded shares of Hagerty from a “hold” rating to a “buy” rating in a research note on Sunday, November 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. Keefe, Bruyette & Woods lifted their price target on shares of Hagerty from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 12th. Finally, JMP Securities started coverage on shares of Hagerty in a research report on Wednesday, October 1st. They issued a “market outperform” rating and a $15.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.13.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HGTY. Neuberger Berman Group LLC raised its holdings in shares of 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 in the last quarter. Polar Capital Holdings Plc grew its position in Hagerty by 9.4% in the third quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock worth $70,042,000 after buying an additional 498,389 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Hagerty by 32.3% in the third quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock valued at $41,612,000 after buying an additional 843,433 shares in the last quarter. Greenhaven Road Investment Management L.P. lifted its position in shares of Hagerty by 47.1% during the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock valued at $32,084,000 after acquiring an additional 853,245 shares during the last quarter. Finally, Pembroke Management LTD boosted its stake in shares of Hagerty by 127.6% during the 3rd quarter. Pembroke Management LTD now owns 2,261,203 shares of the company’s stock worth $27,225,000 after acquiring an additional 1,267,754 shares in the last quarter. Institutional investors own 20.51% of the company’s stock.

About Hagerty

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.