Hagerty (NYSE:HGTY) CAO Sells $38,134.25 in Stock

Hagerty, Inc. (NYSE:HGTY) CAO Kevin Delaney sold 3,113 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $12.25, for a total transaction of $38,134.25. Following the sale, the chief accounting officer owned 83,972 shares in the company, valued at approximately $1,028,657. The trade was a 3.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hagerty Price Performance

HGTY stock opened at $12.09 on Thursday. The stock has a 50-day moving average price of $10.83 and a two-hundred day moving average price of $11.41. Hagerty, Inc. has a 1 year low of $8.81 and a 1 year high of $14.00. The stock has a market cap of $4.15 billion, a PE ratio of 60.43 and a beta of 0.79. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.35.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate 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%. Equities analysts forecast that Hagerty, Inc. will post -0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Hagerty

A number of institutional investors have recently bought and sold shares of HGTY. EverSource Wealth Advisors LLC raised its stake in Hagerty by 107.4% in the first quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock valued at $32,000 after buying an additional 1,591 shares during the period. Osaic Holdings Inc. boosted its stake in shares of Hagerty by 2,374.5% during the 2nd 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 period. BNP Paribas Financial Markets increased its holdings in shares of 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 acquiring an additional 3,197 shares during the last quarter. Bank of America Corp DE increased its holdings 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 during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Hagerty in the 4th quarter valued at $98,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Truist Financial decreased their price target on shares of Hagerty from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, May 11th. Wells Fargo & Company reduced their target price on shares of Hagerty from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Keefe, Bruyette & Woods raised their target price on shares of Hagerty from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group set a $14.00 price target on shares of Hagerty in a research note on Wednesday, June 10th. Finally, Weiss Ratings raised shares of Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Four equities 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.com, Hagerty currently has an average rating of “Hold” and an average price target of $13.44.

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.