Insider Selling: Hagerty (NYSE:HGTY) Insider Sells 10,883 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) insider Kenneth Ahn sold 10,883 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $12.85, for a total transaction of $139,846.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kenneth Ahn also recently made the following trade(s):

• On Wednesday, January 7th, Kenneth Ahn sold 24,247 shares of Hagerty stock. The stock was sold at an average price of $13.08, for a total value of $317,150.76.

Hagerty Price Performance

Hagerty stock traded up $0.14 on Wednesday, reaching $13.12. The company’s stock had a trading volume of 121,167 shares, compared to its average volume of 168,313. The business’s fifty day moving average price is $12.89 and its 200 day moving average price is $11.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 46.86 and a beta of 0.89. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $14.00.

Hagerty (NYSE:HGTY) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.04. The business had revenue of $359.01 million for the quarter, compared to the consensus estimate of $354.36 million. Hagerty had a net margin of 5.85% and a return on equity of 16.85%. Equities analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on HGTY. Keefe, Bruyette & Woods increased their price objective on Hagerty from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. Citizens Jmp began coverage on Hagerty in a research report on Wednesday, October 1st. They issued a “mkt outperform” rating and a $15.00 price objective for the company. BMO Capital Markets assumed coverage on shares of Hagerty in a research report on Monday, September 22nd. They set a “market perform” rating and a $13.00 target price on the stock. Finally, Oppenheimer initiated coverage on shares of Hagerty in a report on Wednesday, September 17th. They issued an “outperform” rating and a $15.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.13.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HGTY. IFP Advisors Inc acquired a new position in Hagerty during the second quarter valued at approximately $30,000. Osaic Holdings Inc. boosted 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 worth $50,000 after purchasing an additional 4,749 shares in the last quarter. BNP Paribas Financial Markets grew its holdings 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 buying an additional 3,197 shares during the period. Bank of America Corp DE increased its position 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 buying an additional 2,726 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its stake in Hagerty by 228.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock worth $106,000 after buying an additional 7,300 shares during the period. Institutional investors own 20.51% of the company’s stock.

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.