Insider Selling: Hagerty (NYSE:HGTY) Insider Sells $139,846.55 in Stock

Hagerty, Inc. (NYSE:HGTY) insider Kenneth Ahn sold 10,883 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $12.85, for a total value of $139,846.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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 shares were sold at an average price of $13.08, for a total transaction of $317,150.76.

Hagerty Trading Down 1.3%

Shares of Hagerty stock opened at $13.05 on Friday. 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 has a market capitalization of $4.46 billion, a P/E ratio of 46.61 and a beta of 0.89. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $14.00. The company’s fifty day moving average is $13.02 and its two-hundred day moving average is $11.79.

Hagerty (NYSE:HGTY) last announced its 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 net margin of 5.85% and a return on equity of 16.85%. The business had revenue of $359.01 million during the quarter, compared to the consensus estimate of $354.36 million. Analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HGTY shares. Citigroup assumed coverage on Hagerty in a research note on Wednesday, October 1st. They set an “outperform” rating for the company. JMP Securities started coverage on shares of Hagerty in a research report on Wednesday, October 1st. They set a “market outperform” rating and a $15.00 price objective for the company. Oppenheimer started coverage on shares of Hagerty in a research note on Wednesday, September 17th. They issued an “outperform” rating and a $15.00 target price for the company. Citizens Jmp started coverage on shares of Hagerty in a research note on Wednesday, October 1st. They set a “mkt outperform” rating and a $15.00 price target on the stock. Finally, BMO Capital Markets assumed coverage on shares of Hagerty in a report on Monday, September 22nd. They set a “market perform” rating and a $13.00 price target for the company. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Hagerty presently has an average rating of “Moderate Buy” and an average target price of $14.13.

Hedge Funds Weigh In On Hagerty

A number of large investors have recently made changes to their positions in the stock. Lincoln Capital LLC lifted its stake in shares of Hagerty by 3.2% in the fourth quarter. Lincoln Capital LLC now owns 812,858 shares of the company’s stock valued at $10,925,000 after purchasing an additional 25,471 shares during the period. Greenhaven Road Investment Management L.P. increased its holdings in Hagerty by 47.1% in the third quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock valued at $32,084,000 after buying an additional 853,245 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Hagerty during the 3rd quarter valued at approximately $3,339,000. Polar Capital Holdings Plc boosted its stake in shares of Hagerty by 9.4% during the 3rd quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock worth $70,042,000 after acquiring an additional 498,389 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Hagerty in the 3rd quarter worth approximately $155,000. Hedge funds and other 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.