Hagerty, Inc. (HGTY) – What Are Researchers Saying About This Stock?

Hagerty, Inc. (NYSE:HGTY) has been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $13.80.

A number of research firms recently weighed in on HGTY. Wall Street Zen upgraded shares of Hagerty from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings raised shares of Hagerty from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Wells Fargo & Company lifted their price target on shares of Hagerty from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Hagerty from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th.

Hagerty Stock Up 2.3%

Hagerty stock opened at $15.94 on Tuesday. Hagerty has a twelve month low of $9.36 and a twelve month high of $15.98. The stock’s fifty day simple moving average is $13.92 and its 200-day simple moving average is $12.01. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $5.48 billion, a P/E ratio of 177.11 and a beta of 0.83.

Hagerty (NYSE:HGTY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.07. The business had revenue of $354.82 million for the quarter, compared to analysts’ expectations of $316.21 million. Hagerty had a return on equity of 5.15% and a net margin of 1.81%. As a group, equities analysts expect that Hagerty will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hagerty news, major shareholder Holding Corp. Hagerty sold 9,250,000 shares of Hagerty stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $11.47, for a total transaction of $106,097,500.00. Following the completion of the sale, the insider directly owned 9,250,000 shares of the company’s stock, valued at $106,097,500. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Ancora Advisors LLC purchased a new position in shares of Hagerty in the 2nd quarter valued at about $28,000. 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. State of Alaska Department of Revenue purchased a new stake in Hagerty during the third quarter worth approximately $55,000. Integrated Wealth Concepts LLC purchased a new stake in Hagerty during the second quarter worth approximately $63,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Hagerty in the first quarter valued at approximately $115,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Hagerty Company Profile

Hagerty, Inc is an automotive lifestyle and insurance company focused on enthusiasts and owners of classic, collector and specialty vehicles. The company provides insurance brokerage and related services designed for collector vehicles, with coverage generally underwritten by third-party insurance carriers.

In addition to insurance, Hagerty offers vehicle valuation and pricing information, membership programs, editorial content, events and enthusiast-focused digital services. Its offerings include Hagerty Drivers Club, Hagerty Valuations and Hagerty Marketplace, which connects buyers and sellers of collectible vehicles.