Hagerty (NYSE:HGTY) Director Sells $60,896.31 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Laurie Harris sold 5,531 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $11.01, for a total value of $60,896.31. Following the completion of the transaction, the director owned 36,689 shares in the company, valued at approximately $403,945.89. The trade was a 13.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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.

Hagerty Stock Up 2.7%

HGTY stock traded up $0.30 during trading on Wednesday, hitting $11.38. 522,398 shares of the company’s stock were exchanged, compared to its average volume of 154,698. The business has a 50-day moving average price of $11.24 and a two-hundred day moving average price of $12.08. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 34.49 and a beta of 0.93. Hagerty, Inc. has a 52-week low of $8.22 and a 52-week high of $14.00. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.27.

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

Hedge Funds Weigh In On Hagerty

Hedge funds have recently modified their holdings of the business. Swiss National Bank raised its position in Hagerty by 3.4% in the 4th quarter. Swiss National Bank now owns 79,260 shares of the company’s stock valued at $1,065,000 after purchasing an additional 2,600 shares during 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 purchasing an additional 2,726 shares during the period. Trexquant Investment LP increased its stake in Hagerty by 2.6% in the fourth quarter. Trexquant Investment LP now owns 115,277 shares of the company’s stock valued at $1,549,000 after purchasing an additional 2,872 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Hagerty by 165.3% in the third quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock valued at $62,000 after buying an additional 3,197 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Hagerty by 3.0% in the fourth quarter. LPL Financial LLC now owns 115,039 shares of the company’s stock valued at $1,546,000 after buying an additional 3,321 shares during the last quarter. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.