Kevin Delaney Sells 905 Shares of Hagerty (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) CAO Kevin Delaney sold 905 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $12.01, for a total transaction of $10,869.05. Following the sale, the chief accounting officer directly owned 99,050 shares of the company’s stock, valued at approximately $1,189,590.50. The trade was a 0.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hagerty Stock Performance

Shares of NYSE:HGTY traded up $0.28 during midday trading on Thursday, hitting $12.34. The company had a trading volume of 130,491 shares, compared to its average volume of 157,362. Hagerty, Inc. has a 12-month low of $8.81 and a 12-month high of $14.00. The company has a fifty day moving average of $10.67 and a two-hundred day moving average of $11.43. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 61.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.65 and a quick ratio of 1.65.

Hagerty (NYSE:HGTY) last released its earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.05). The company had revenue of $311.83 million for the quarter, compared to analysts’ expectations of $284.88 million. Hagerty had a net margin of 5.11% and a return on equity of 11.94%. On average, equities research analysts expect that Hagerty, Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Hagerty from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings upgraded shares of Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Wells Fargo & Company reduced their price objective on shares of Hagerty from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. UBS Group set a $14.00 price objective on shares of Hagerty in a research report on Wednesday, June 10th. Finally, Truist Financial lowered their target price on shares of Hagerty from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its position in shares of Hagerty by 24.9% during the first quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company’s stock valued at $338,000 after buying an additional 7,459 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Hagerty by 2.0% in the second quarter. Geode Capital Management LLC now owns 254,634 shares of the company’s stock worth $2,576,000 after buying an additional 5,077 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Hagerty by 37.2% during the second quarter. Marshall Wace LLP now owns 22,405 shares of the company’s stock worth $227,000 after acquiring an additional 6,072 shares during the last quarter. Bank of America Corp DE grew its stake in Hagerty by 46.6% during the second quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock valued at $87,000 after acquiring an additional 2,726 shares in the last quarter. Finally, Osaic Holdings Inc. increased its holdings in Hagerty by 2,374.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock valued at $50,000 after acquiring an additional 4,749 shares during the last quarter. 20.51% of the stock is currently owned by institutional investors.

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.