Brokerages Set Hagerty, Inc. (NYSE:HGTY) Price Target at $14.13

Shares of Hagerty, Inc. (NYSE:HGTY) have been assigned an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $14.1250.

A number of research firms recently weighed in on HGTY. Wells Fargo & Company initiated coverage on shares of Hagerty in a research note on Friday, October 3rd. They issued an “equal weight” rating and a $13.00 price objective for the company. Citizens Jmp started coverage on Hagerty in a research note on Wednesday, October 1st. They set a “mkt outperform” rating and a $15.00 price objective on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Hagerty in a research note on Monday, December 29th. Keefe, Bruyette & Woods upped their price target on Hagerty from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. Finally, JMP Securities assumed coverage on shares of Hagerty in a report on Wednesday, October 1st. They issued a “market outperform” rating and a $15.00 price target on the stock.

Hagerty Stock Performance

Shares of Hagerty stock opened at $12.12 on Friday. The business’s fifty day simple moving average is $13.01 and its 200 day simple moving average is $12.03. 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 firm has a market capitalization of $4.15 billion, a P/E ratio of 43.29 and a beta of 0.89. Hagerty has a 12 month low of $8.03 and a 12 month high of $14.00.

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 the consensus estimate of $0.09 by $0.04. The business had revenue of $359.01 million during 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%. As a group, analysts anticipate that Hagerty will post 0.22 EPS for the current year.

Insider Buying and Selling

In other news, insider Kenneth Ahn sold 164,870 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $12.79, for a total transaction of $2,108,687.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 351,350 shares of company stock valued at $4,474,572. 16.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hagerty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HGTY. IFP Advisors Inc purchased a new stake in shares of Hagerty in the 2nd quarter valued at about $30,000. Osaic Holdings Inc. increased its position in shares of Hagerty by 2,374.5% in the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock worth $50,000 after purchasing an additional 4,749 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Hagerty by 165.3% in the third quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock valued at $62,000 after purchasing an additional 3,197 shares in the last quarter. Bank of America Corp DE lifted its position 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 purchasing an additional 2,726 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its position in Hagerty by 228.1% during the second quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock valued at $106,000 after purchasing an additional 7,300 shares during the last quarter. 20.51% of the stock is currently owned by hedge funds and other 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.