Hagerty (NYSE:HGTY) Director Anthony Kuczinski Purchases 4,000 Shares

Hagerty, Inc. (NYSE:HGTY) Director Anthony Kuczinski bought 4,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $9.50 per share, for a total transaction of $38,000.00. Following the transaction, the director owned 47,277 shares of the company’s stock, valued at approximately $449,131.50. This trade represents a 9.24% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Hagerty Stock Up 4.6%

HGTY opened at $10.24 on Friday. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $14.00. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $11.96 and a 200 day moving average price of $12.24. The company has a market cap of $3.50 billion, a PE ratio of 31.03 and a beta of 0.90.

Hagerty (NYSE:HGTY) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. Hagerty had a net margin of 5.98% and a return on equity of 16.24%. The firm had revenue of $388.10 million for the quarter, compared to analyst estimates of $323.93 million. Sell-side analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HGTY shares. Wall Street Zen lowered Hagerty from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Hagerty in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their price objective on Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Hedge Funds Weigh In On Hagerty

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. increased its stake in Hagerty by 2,374.5% during the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock worth $50,000 after acquiring an additional 4,749 shares during the last quarter. BNP Paribas Financial Markets lifted its stake 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 valued at $62,000 after purchasing an additional 3,197 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Hagerty by 46.6% in the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock valued at $87,000 after purchasing an additional 2,726 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Hagerty during the 4th quarter worth $98,000. Finally, Arizona State Retirement System purchased a new position in shares of Hagerty during the 3rd quarter worth $141,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

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.