Hagerty (NYSE:HGTY) Stock Price Down 7.1% – Should You Sell?

Hagerty, Inc. (NYSE:HGTY)’s share price fell 7.1% on Monday . The company traded as low as $11.04 and last traded at $10.9010. 58,497 shares were traded during trading, a decline of 49% from the average session volume of 113,644 shares. The stock had previously closed at $11.74.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HGTY. Keefe, Bruyette & Woods boosted 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. Wall Street Zen cut Hagerty from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. JPMorgan Chase & Co. upped their price target on shares of Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Hagerty in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Hagerty Stock Down 6.0%

The stock has a market cap of $3.78 billion, a P/E ratio of 33.46 and a beta of 0.90. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.17. The stock’s 50-day moving average is $12.60 and its 200-day moving average is $12.31.

Hagerty (NYSE:HGTY) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. The company had revenue of $388.10 million for the quarter, compared to the consensus estimate of $323.93 million. Hagerty had a net margin of 5.98% and a return on equity of 16.80%. As a group, research analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Transactions at Hagerty

In other news, insider Kenneth Ahn sold 164,870 shares of Hagerty 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 351,350 shares of company stock worth $4,474,572. Company insiders own 16.70% of the company’s stock.

Hedge Funds Weigh In On Hagerty

A number of institutional investors have recently bought and sold shares of HGTY. Occudo Quantitative Strategies LP purchased a new stake in Hagerty during the fourth quarter valued at about $170,000. Millennium Management LLC acquired a new stake in shares of Hagerty during the fourth quarter valued at approximately $353,000. Schonfeld Strategic Advisors LLC lifted its position in shares of Hagerty by 107.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 26,718 shares of the company’s stock valued at $359,000 after acquiring an additional 13,808 shares in the last quarter. Gillson Capital LP boosted its stake in Hagerty by 15.4% in the 4th quarter. Gillson Capital LP now owns 202,012 shares of the company’s stock worth $2,715,000 after purchasing an additional 27,012 shares during the period. Finally, AQR Capital Management LLC purchased a new position in Hagerty during the 4th quarter worth approximately $315,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

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.