Hagerty, Inc. (NYSE:HGTY) Given Average Rating of “Hold” by Analysts

Shares of Hagerty, Inc. (NYSE:HGTY) have been assigned an average recommendation of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $14.00.

HGTY has been the subject of several research analyst reports. UBS Group set a $14.00 price objective on Hagerty in a research note on Wednesday, June 10th. Keefe, Bruyette & Woods upped their target price on Hagerty from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday. Weiss Ratings raised Hagerty from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Wall Street Zen upgraded Hagerty from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, Wells Fargo & Company boosted their price objective on Hagerty from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th.

Hagerty Stock Performance

NYSE HGTY opened at $12.72 on Thursday. Hagerty has a 1 year low of $9.36 and a 1 year high of $14.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.53 and a quick ratio of 1.53. The stock has a market capitalization of $4.37 billion, a PE ratio of 141.33 and a beta of 0.79. The company’s 50 day simple moving average is $11.73 and its two-hundred day simple moving average is $11.25.

Hagerty (NYSE:HGTY) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07. The firm had revenue of $354.82 million during the quarter, compared to analyst estimates of $316.21 million. Hagerty had a net margin of 1.81% and a return on equity of 5.15%. Analysts predict that Hagerty will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Kevin M. Delaney sold 9,440 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $12.10, for a total transaction of $114,224.00. Following the sale, the chief accounting officer owned 89,610 shares in the company, valued at approximately $1,084,281. This trade represents a 9.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 13,458 shares of company stock valued at $163,227. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in Hagerty by 107.4% during the first quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock worth $32,000 after purchasing an additional 1,591 shares during the last quarter. Osaic Holdings Inc. grew its position in Hagerty by 2,374.5% during the second 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. BNP Paribas Financial Markets raised its stake in shares of Hagerty by 165.3% during the third quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock worth $62,000 after acquiring an additional 3,197 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Hagerty by 46.6% in the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock worth $87,000 after acquiring an additional 2,726 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Hagerty in the 4th quarter valued at $98,000. 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.