Pembroke Management LTD Buys 1,267,754 Shares of Hagerty, Inc. $HGTY

Pembroke Management LTD raised its stake in Hagerty, Inc. (NYSE:HGTY) by 127.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,261,203 shares of the company’s stock after buying an additional 1,267,754 shares during the quarter. Hagerty accounts for about 2.7% of Pembroke Management LTD’s portfolio, making the stock its 15th largest position. Pembroke Management LTD’s holdings in Hagerty were worth $27,225,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Corton Capital Inc. bought a new stake in shares of Hagerty in the 2nd quarter valued at about $273,000. Neuberger Berman Group LLC boosted its stake in Hagerty by 1.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 5,557,427 shares of the company’s stock worth $56,186,000 after acquiring an additional 88,634 shares during the last quarter. IFP Advisors Inc acquired a new position in Hagerty during the second quarter valued at approximately $30,000. Lincoln Capital LLC grew its holdings in Hagerty by 9.4% during the second quarter. Lincoln Capital LLC now owns 607,309 shares of the company’s stock valued at $6,140,000 after purchasing an additional 52,023 shares during the period. Finally, Greenhaven Road Investment Management L.P. increased its stake in Hagerty by 33.2% in the second quarter. Greenhaven Road Investment Management L.P. now owns 1,811,539 shares of the company’s stock valued at $18,315,000 after purchasing an additional 451,033 shares in the last quarter. Institutional investors own 20.51% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert I. Kauffman sold 15,270 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $11.12, for a total value of $169,802.40. Following the sale, the director owned 898,097 shares of the company’s stock, valued at $9,986,838.64. The trade was a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kenneth Ahn sold 164,870 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $12.79, for a total transaction of $2,108,687.30. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 326,351 shares of company stock valued at $4,063,260. Insiders own 16.70% of the company’s stock.

Hagerty Stock Performance

HGTY opened at $12.67 on Friday. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 45.24 and a beta of 0.89. The business’s 50-day moving average price is $13.13 and its two-hundred day moving average price is $11.88. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $14.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 1.00.

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

Wall Street Analysts Forecast Growth

HGTY has been the topic of a number of recent analyst reports. Wells Fargo & Company initiated coverage on shares of Hagerty in a research report on Friday, October 3rd. They set an “equal weight” rating and a $13.00 price target on the stock. Wall Street Zen raised Hagerty from a “hold” rating to a “buy” rating in a research note on Sunday, November 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Hagerty in a research note on Monday, December 29th. Keefe, Bruyette & Woods raised their price target on Hagerty from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 12th. Finally, JMP Securities initiated coverage on Hagerty in a report on Wednesday, October 1st. They set a “market outperform” rating and a $15.00 price objective on the stock. Five equities research 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 has an average rating of “Moderate Buy” and an average target price of $14.13.

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.