Kenneth Ahn Sells 24,247 Shares of Hagerty (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) insider Kenneth Ahn sold 24,247 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $13.08, for a total value of $317,150.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 Up 1.1%

NYSE HGTY traded up $0.14 on Wednesday, reaching $13.12. The company had a trading volume of 121,167 shares, compared to its average volume of 168,313. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50-day moving average of $12.89 and a 200-day moving average of $11.75. The firm has a market capitalization of $4.49 billion, a PE ratio of 46.86 and a beta of 0.89. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $14.00.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc bought a new position in shares of Hagerty during the 2nd quarter valued at about $30,000. 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 valued at $50,000 after acquiring an additional 4,749 shares during the period. BNP Paribas Financial Markets grew its position in Hagerty by 165.3% during 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 in the last quarter. Bank of America Corp DE increased its stake in Hagerty by 46.6% in the second quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock valued at $87,000 after acquiring an additional 2,726 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its position in shares of Hagerty by 228.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock worth $106,000 after buying an additional 7,300 shares during the last quarter. Institutional investors own 20.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on HGTY. Oppenheimer assumed coverage on Hagerty in a research report on Wednesday, September 17th. They issued an “outperform” rating and a $15.00 target price for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hagerty in a research report on Monday, December 29th. Keefe, Bruyette & Woods raised their price target on Hagerty from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 12th. BMO Capital Markets began coverage on shares of Hagerty in a research note on Monday, September 22nd. They issued a “market perform” rating and a $13.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.13.

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.