Hagerty, Inc. (NYSE:HGTY) Short Interest Update

Hagerty, Inc. (NYSE:HGTY) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 323,186 shares, a drop of 15.1% from the December 31st total of 380,573 shares. Based on an average trading volume of 116,983 shares, the short-interest ratio is currently 2.8 days. Approximately 0.1% of the shares of the company are sold short. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 116,983 shares, the short-interest ratio is currently 2.8 days.

Hagerty Price Performance

Shares of HGTY traded down $0.36 during midday trading on Tuesday, hitting $12.32. 136,217 shares of the company traded hands, compared to its average volume of 113,704. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 44.00 and a beta of 0.89. The firm has a 50 day moving average of $12.94 and a 200-day moving average of $12.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.00 and a current ratio of 1.00. Hagerty has a 52 week low of $8.03 and a 52 week high of $14.00.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HGTY. Wall Street Zen raised shares of Hagerty from a “hold” rating to a “buy” rating in a research note on Sunday, November 30th. JPMorgan Chase & Co. upped their target price on shares of Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Hagerty in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on Hagerty from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.13.

Insiders Place Their Bets

In other news, insider Kenneth Ahn sold 164,870 shares of Hagerty stock in a transaction on 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 legal filing with the SEC, which is accessible through this link. Insiders have sold 351,350 shares of company stock valued at $4,474,572 in the last 90 days. 16.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc purchased a new stake in Hagerty during the second quarter valued at $30,000. Osaic Holdings Inc. grew its stake in shares of Hagerty by 2,374.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock worth $50,000 after buying an additional 4,749 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Hagerty by 165.3% in the 3rd 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 last quarter. Bank of America Corp DE raised its position in shares of Hagerty by 46.6% during the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock valued at $87,000 after buying an additional 2,726 shares in the last quarter. Finally, KLP Kapitalforvaltning AS lifted its holdings in shares of Hagerty by 228.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock valued at $106,000 after acquiring an additional 7,300 shares during the last quarter. 20.51% of the stock is owned by hedge funds and other institutional investors.

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.