Hagerty, Inc. (NYSE:HGTY) Receives $14.00 Consensus PT from Brokerages

Hagerty, Inc. (NYSE:HGTY) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $14.00.

Several equities research analysts have commented on the stock. Wall Street Zen downgraded shares of Hagerty from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Keefe, Bruyette & Woods boosted their price target on shares of Hagerty from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th.

Insider Buying and Selling at Hagerty

In related news, insider Kenneth Ahn sold 164,870 shares of the business’s stock in a transaction on Monday, January 5th. The stock was 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 SEC, which is available through this hyperlink. Insiders sold 351,350 shares of company stock valued at $4,474,572 in the last three months. 16.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc purchased a new stake in shares of Hagerty in the second quarter worth about $30,000. Osaic Holdings Inc. increased its holdings in Hagerty by 2,374.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock worth $50,000 after acquiring an additional 4,749 shares during the period. BNP Paribas Financial Markets increased its holdings in Hagerty by 165.3% during the 3rd 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 during the period. Bank of America Corp DE lifted its stake in 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 purchasing an additional 2,726 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Hagerty in the 4th quarter valued at $98,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Hagerty Stock Performance

NYSE:HGTY opened at $11.75 on Thursday. The company has a market capitalization of $4.02 billion, a P/E ratio of 41.95 and a beta of 0.89. The business has a fifty day simple moving average of $12.72 and a two-hundred day simple moving average of $12.26. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 1.00. Hagerty has a 1 year low of $8.03 and a 1 year high of $14.00.

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.