Insider Selling: Hagerty (NYSE:HGTY) CAO Sells $10,869.05 in Stock

Hagerty, Inc. (NYSE:HGTY) CAO Kevin Delaney sold 905 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $12.01, for a total transaction of $10,869.05. Following the transaction, the chief accounting officer directly owned 99,050 shares in the company, valued at approximately $1,189,590.50. This represents a 0.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hagerty Stock Down 0.4%

Shares of HGTY opened at $12.34 on Friday. The firm has a market cap of $4.24 billion, a PE ratio of 61.68 and a beta of 0.79. The company’s fifty day moving average is $10.74 and its two-hundred day moving average is $11.43. Hagerty, Inc. has a fifty-two week low of $8.81 and a fifty-two week high of $14.00. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.35.

Hagerty (NYSE:HGTY) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). The firm had revenue of $311.83 million for the quarter, compared to analyst estimates of $284.88 million. Hagerty had a return on equity of 11.94% and a net margin of 5.11%. Analysts forecast that Hagerty, Inc. will post -0.1 earnings per share for the current year.

Institutional Trading of Hagerty

A number of hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in shares of Hagerty by 107.4% in the first quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock worth $32,000 after acquiring an additional 1,591 shares in the last quarter. Osaic Holdings Inc. grew its stake in Hagerty by 2,374.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock valued at $50,000 after purchasing an additional 4,749 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Hagerty by 165.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock worth $62,000 after purchasing an additional 3,197 shares during the last quarter. Bank of America Corp DE increased its holdings in 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 purchasing an additional 2,726 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Hagerty in the 4th quarter valued at approximately $98,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HGTY shares. Wall Street Zen raised Hagerty from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Wells Fargo & Company decreased their price target on Hagerty from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Truist Financial lowered their price objective on shares of Hagerty from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, May 11th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Hagerty in a research note on Wednesday, June 10th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.44.

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.