Hagerty, Inc. $HGTY Shares Sold by Polar Capital Holdings Plc

Polar Capital Holdings Plc decreased its holdings in Hagerty, Inc. (NYSE:HGTY) by 0.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,767,416 shares of the company’s stock after selling 50,000 shares during the period. Polar Capital Holdings Plc’s holdings in Hagerty were worth $77,514,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in shares of Hagerty by 24.9% in the first quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company’s stock worth $338,000 after acquiring an additional 7,459 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Hagerty by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 254,634 shares of the company’s stock valued at $2,576,000 after acquiring an additional 5,077 shares in the last quarter. Marshall Wace LLP boosted its position in Hagerty by 37.2% during the 2nd quarter. Marshall Wace LLP now owns 22,405 shares of the company’s stock worth $227,000 after purchasing an additional 6,072 shares during the period. Bank of America Corp DE boosted its position in Hagerty by 46.6% during 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. Finally, Osaic Holdings Inc. increased its holdings in Hagerty by 2,374.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock valued at $50,000 after purchasing an additional 4,749 shares in the last quarter. 20.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Hagerty news, Director Laurie Harris sold 5,531 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $11.01, for a total transaction of $60,896.31. Following the completion of the sale, the director owned 36,689 shares in the company, valued at $403,945.89. This trade represents a 13.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.70% of the stock is currently owned by company insiders.

Hagerty Stock Performance

NYSE:HGTY opened at $11.12 on Wednesday. The firm has a 50-day moving average of $10.59 and a two-hundred day moving average of $11.55. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.65 and a quick ratio of 1.65. The stock has a market cap of $3.82 billion, a P/E ratio of 55.58 and a beta of 0.82. Hagerty, Inc. has a 1-year low of $8.81 and a 1-year high of $14.00.

Hagerty (NYSE:HGTY) last announced its earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). Hagerty had a return on equity of 11.94% and a net margin of 5.11%.The business had revenue of $311.83 million for the quarter, compared to analysts’ expectations of $284.88 million. On average, research analysts expect that Hagerty, Inc. will post -0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Weiss Ratings cut Hagerty from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, June 3rd. UBS Group set a $14.00 target price on Hagerty in a report on Wednesday, June 10th. Wells Fargo & Company reduced their price target on Hagerty from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Wall Street Zen cut Hagerty from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Hagerty in a research report on Wednesday, June 10th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.44.

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.