Hagerty, Inc. (NYSE:HGTY) Given Consensus Recommendation of “Hold” by Brokerages

Hagerty, Inc. (NYSE:HGTY) has earned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $13.3750.

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Hagerty from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Truist Financial decreased their price target on shares of Hagerty from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday. Finally, Wall Street Zen lowered shares of Hagerty from a “hold” rating to a “sell” rating in a report on Saturday.

Insider Activity at Hagerty

In related news, Director Laurie Harris sold 5,531 shares of Hagerty stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $11.01, for a total transaction of $60,896.31. Following the sale, the director directly owned 36,689 shares of the company’s stock, valued at approximately $403,945.89. The trade was a 13.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anthony J. Kuczinski purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $9.50 per share, for a total transaction of $38,000.00. Following the completion of the acquisition, the director directly owned 47,277 shares in the company, valued at $449,131.50. The trade was a 9.24% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 16.70% of the company’s stock.

Institutional Investors Weigh In On Hagerty

Hedge funds have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC boosted its position in Hagerty by 44.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 8,047,786 shares of the company’s stock worth $96,895,000 after buying an additional 2,490,359 shares during the period. Garner Asset Management Corp acquired a new stake in Hagerty during the 3rd quarter worth approximately $3,393,000. Pembroke Management LTD boosted its position in Hagerty by 127.6% during the 3rd quarter. Pembroke Management LTD now owns 2,261,203 shares of the company’s stock worth $27,225,000 after buying an additional 1,267,754 shares during the period. Lincoln Capital LLC boosted its position in Hagerty by 29.7% during the 3rd quarter. Lincoln Capital LLC now owns 787,387 shares of the company’s stock worth $9,441,000 after buying an additional 180,078 shares during the period. Finally, Greenhaven Road Investment Management L.P. boosted its position in Hagerty by 47.1% during the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock worth $32,084,000 after buying an additional 853,245 shares during the period. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Hagerty Price Performance

HGTY stock opened at $10.01 on Tuesday. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.35. Hagerty has a 12 month low of $8.81 and a 12 month high of $14.00. The firm has a market cap of $3.43 billion, a P/E ratio of 50.05 and a beta of 0.83. The company’s 50-day moving average price is $10.57 and its two-hundred day moving average price is $11.88.

Hagerty (NYSE:HGTY) last released its earnings results on Wednesday, May 6th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.05). Hagerty had a net margin of 5.11% and a return on equity of 11.94%. The firm had revenue of $311.83 million during the quarter, compared to the consensus estimate of $284.88 million. On average, analysts anticipate that Hagerty will post 0.27 earnings per share for the current fiscal year.

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.