Garner Asset Management Corp Acquires Shares of 281,825 Hagerty, Inc. $HGTY

Garner Asset Management Corp bought a new stake in Hagerty, Inc. (NYSE:HGTY) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 281,825 shares of the company’s stock, valued at approximately $3,393,000. Hagerty accounts for approximately 1.4% of Garner Asset Management Corp’s holdings, making the stock its 21st biggest position. Garner Asset Management Corp owned about 0.08% of Hagerty at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pembroke Management LTD increased its holdings in Hagerty by 127.6% in the 3rd quarter. Pembroke Management LTD now owns 2,261,203 shares of the company’s stock worth $27,225,000 after acquiring an additional 1,267,754 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Hagerty by 32.3% in the third quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock worth $41,612,000 after purchasing an additional 843,433 shares in the last quarter. Greenhaven Road Investment Management L.P. raised its position in shares of Hagerty by 33.2% in the second quarter. Greenhaven Road Investment Management L.P. now owns 1,811,539 shares of the company’s stock valued at $18,315,000 after purchasing an additional 451,033 shares during the period. Scholtz & Company LLC bought a new stake in shares of Hagerty in the second quarter valued at approximately $2,429,000. Finally, Lincoln Capital LLC lifted its stake in shares of Hagerty by 29.7% during the 3rd quarter. Lincoln Capital LLC now owns 787,387 shares of the company’s stock valued at $9,441,000 after buying an additional 180,078 shares in the last quarter. Institutional investors own 20.51% of the company’s stock.

Hagerty Stock Performance

NYSE:HGTY opened at $11.75 on Friday. The stock has a market cap of $4.02 billion, a P/E ratio of 41.95 and a beta of 0.89. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.17. The business’s 50-day moving average price is $12.72 and its two-hundred day moving average price is $12.25. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $14.00.

Insider Buying and Selling

In other news, insider Kenneth Ahn sold 164,870 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $12.79, for a total value of $2,108,687.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 351,350 shares of company stock valued at $4,474,572. 16.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Hagerty in a research note on Monday, December 29th. Wall Street Zen downgraded Hagerty from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. JPMorgan Chase & Co. lifted their target price on Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Hagerty from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday, November 12th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Hagerty currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Hagerty 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.