Hagerty, Inc. (NYSE:HGTY) Given Average Recommendation of “Moderate Buy” by Brokerages

Hagerty, Inc. (NYSE:HGTY) has been assigned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $14.1250.

Several research firms have issued reports on HGTY. Wall Street Zen raised shares of Hagerty from a “hold” rating to a “buy” rating in a research report on Sunday, November 30th. Keefe, Bruyette & Woods boosted their price objective 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. JPMorgan Chase & Co. upped their target price on shares of Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Wells Fargo & Company assumed coverage on shares of Hagerty in a research note on Friday, October 3rd. They issued an “equal weight” rating and a $13.00 target price for the company. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Hagerty in a research report on Monday, December 29th.

Hagerty Stock Performance

HGTY opened at $12.61 on Friday. The business’s 50-day simple moving average is $12.98 and its 200 day simple moving average is $12.04. Hagerty has a 52-week low of $8.03 and a 52-week high of $14.00. 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 firm has a market capitalization of $4.31 billion, a PE ratio of 45.02 and a beta of 0.89.

Hagerty (NYSE:HGTY) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, topping 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 firm had revenue of $359.01 million for the quarter, compared to analyst estimates of $354.36 million. As a group, sell-side analysts expect that Hagerty will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Hagerty

In related news, insider Kenneth Ahn sold 164,870 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $12.79, for a total value of $2,108,687.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 351,350 shares of company stock worth $4,474,572. 16.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hagerty

Several institutional investors and hedge funds have recently modified their holdings of HGTY. Corton Capital Inc. bought a new stake in shares of Hagerty during the second quarter worth approximately $273,000. Pembroke Management LTD increased its stake in shares of Hagerty by 127.6% during the third quarter. Pembroke Management LTD now owns 2,261,203 shares of the company’s stock worth $27,225,000 after purchasing an additional 1,267,754 shares during the period. IFP Advisors Inc acquired a new stake in Hagerty during the 2nd quarter worth approximately $30,000. Neuberger Berman Group LLC boosted its stake in Hagerty by 1.6% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,557,427 shares of the company’s stock valued at $56,186,000 after purchasing an additional 88,634 shares during the period. Finally, Greenhaven Road Investment Management L.P. grew its holdings in Hagerty by 33.2% in the 2nd quarter. Greenhaven Road Investment Management L.P. now owns 1,811,539 shares of the company’s stock valued at $18,315,000 after buying an additional 451,033 shares in the last quarter. 20.51% of the stock is currently owned by institutional investors and hedge funds.

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.