Insider Selling: Hagerty (NYSE:HGTY) Insider Sells 50,000 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) insider Kenneth Ahn sold 50,000 shares of Hagerty stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $12.86, for a total value of $643,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, January 9th, Kenneth Ahn sold 1,350 shares of Hagerty stock. The shares were sold at an average price of $13.25, for a total value of $17,887.50.
• On Monday, January 5th, Kenneth Ahn sold 164,870 shares of Hagerty stock. The stock was sold at an average price of $12.79, for a total transaction of $2,108,687.30.
• 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.
• On Tuesday, January 6th, Kenneth Ahn sold 10,883 shares of Hagerty stock. The shares were sold at an average price of $12.85, for a total transaction of $139,846.55.

Hagerty Stock Down 2.2%

NYSE:HGTY traded down $0.29 during midday trading on Tuesday, reaching $12.67. 59,800 shares of the stock traded hands, compared to its average volume of 129,938. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month high of $14.00. The business has a 50-day moving average of $13.05 and a two-hundred day moving average of $11.84. 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 stock has a market capitalization of $4.33 billion, a PE ratio of 45.25 and a beta of 0.89.

Hagerty (NYSE:HGTY) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $359.01 million for the quarter, compared to analyst estimates of $354.36 million. Hagerty had a return on equity of 16.85% and a net margin of 5.85%. On average, equities analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HGTY has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. Oppenheimer assumed coverage on shares of Hagerty in a research report on Wednesday, September 17th. They issued an “outperform” rating and a $15.00 target price on the stock. BMO Capital Markets began coverage on shares of Hagerty in a research report on Monday, September 22nd. They set a “market perform” rating and a $13.00 price target for the company. Citizens Jmp initiated coverage on shares of Hagerty in a research note on Wednesday, October 1st. They issued a “mkt outperform” rating and a $15.00 price target on the stock. Finally, Citigroup assumed coverage on Hagerty in a research note on Wednesday, October 1st. They set an “outperform” rating for the company. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Hagerty currently has an average rating of “Moderate Buy” and a consensus price target of $14.13.

Institutional Investors Weigh In On Hagerty

Large investors have recently made changes to their positions in the stock. Lincoln Capital LLC lifted its position in Hagerty by 3.2% during the fourth quarter. Lincoln Capital LLC now owns 812,858 shares of the company’s stock worth $10,925,000 after buying an additional 25,471 shares in the last quarter. Greenhaven Road Investment Management L.P. grew its stake in shares of Hagerty by 47.1% in the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock valued at $32,084,000 after buying an additional 853,245 shares during the period. Woodline Partners LP acquired a new stake in shares of Hagerty during the 3rd quarter worth approximately $3,339,000. Polar Capital Holdings Plc raised its position in shares of Hagerty by 9.4% during the 3rd quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock valued at $70,042,000 after buying an additional 498,389 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Hagerty in the third quarter valued at approximately $155,000. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

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.