Hagerty, Inc. $HGTY is Greenhaven Road Investment Management L.P.’s 2nd Largest Position

Greenhaven Road Investment Management L.P. boosted its stake in shares of Hagerty, Inc. (NYSE:HGTY) by 47.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,664,784 shares of the company’s stock after purchasing an additional 853,245 shares during the quarter. Hagerty comprises 4.7% of Greenhaven Road Investment Management L.P.’s holdings, making the stock its 2nd largest holding. Greenhaven Road Investment Management L.P. owned 0.78% of Hagerty worth $32,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in HGTY. Osaic Holdings Inc. lifted its position in shares of Hagerty by 2,374.5% during the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock valued at $50,000 after buying an additional 4,749 shares during the last quarter. BNP Paribas Financial Markets grew its position 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 stake 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 worth $87,000 after acquiring an additional 2,726 shares in the last quarter. Arizona State Retirement System bought a new position in shares of Hagerty during the 3rd quarter worth approximately $141,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Hagerty during the third quarter valued at approximately $155,000. 20.51% of the stock is currently owned by institutional investors.

Hagerty Stock Performance

HGTY opened at $10.41 on Thursday. The company has a market cap of $3.56 billion, a P/E ratio of 31.55 and a beta of 0.90. 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 firm’s 50-day moving average price is $11.81 and its 200-day moving average price is $12.23. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week high of $14.00.

Hagerty (NYSE:HGTY) last released its earnings results on Thursday, February 26th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. The company had revenue of $388.10 million during the quarter, compared to analysts’ expectations of $323.93 million. Hagerty had a net margin of 5.98% and a return on equity of 16.24%. As a group, equities analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HGTY shares. Wall Street Zen downgraded shares of Hagerty from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. JPMorgan Chase & Co. upped their price target on Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Insiders Place Their Bets

In related news, Director Anthony J. Kuczinski acquired 4,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were purchased at an average cost of $9.50 per share, with a total value of $38,000.00. Following the completion of the acquisition, the director directly owned 47,277 shares of the company’s stock, valued at $449,131.50. This represents a 9.24% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth Ahn sold 164,870 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $12.79, for a total value of $2,108,687.30. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 351,350 shares of company stock valued at $4,474,572. Corporate insiders own 16.70% of the company’s stock.

Hagerty 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.