Kevin Delaney Sells 9,440 Shares of Hagerty (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) CAO Kevin Delaney sold 9,440 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $12.10, for a total transaction of $114,224.00. Following the transaction, the chief accounting officer owned 89,610 shares in the company, valued at $1,084,281. This represents a 9.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hagerty Price Performance

HGTY stock opened at $12.34 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.65 and a quick ratio of 1.65. Hagerty, Inc. has a 1 year low of $8.81 and a 1 year high of $14.00. The firm has a 50-day moving average of $10.74 and a 200 day moving average of $11.43. The company has a market cap of $4.24 billion, a P/E ratio of 61.68 and a beta of 0.79.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.05). Hagerty had a net margin of 5.11% and a return on equity of 11.94%. The firm had revenue of $311.83 million for the quarter, compared to the consensus estimate of $284.88 million. On average, sell-side analysts forecast that Hagerty, Inc. will post -0.1 EPS for the current year.

Institutional Trading of Hagerty

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its stake in shares of Hagerty by 3.1% in the 1st quarter. Bank of New York Mellon Corp now owns 39,730 shares of the company’s stock worth $418,000 after buying an additional 1,209 shares during the last quarter. EverSource Wealth Advisors LLC raised 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 valued at $32,000 after buying an additional 1,591 shares during the last quarter. Swiss National Bank boosted its holdings in Hagerty by 3.4% in the fourth quarter. Swiss National Bank now owns 79,260 shares of the company’s stock worth $1,065,000 after acquiring an additional 2,600 shares in the last quarter. Bank of America Corp DE boosted its holdings in Hagerty by 46.6% in the second 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 in the last quarter. Finally, Trexquant Investment LP grew its stake in shares of Hagerty by 2.6% in the fourth quarter. Trexquant Investment LP now owns 115,277 shares of the company’s stock worth $1,549,000 after acquiring an additional 2,872 shares during the last quarter. 20.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HGTY has been the topic of several recent research reports. UBS Group set a $14.00 price target on Hagerty in a research note on Wednesday, June 10th. Wall Street Zen raised Hagerty from a “sell” rating to a “hold” rating in a research report on Saturday. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Hagerty in a report on Wednesday, June 10th. Wells Fargo & Company dropped their target price on shares of Hagerty from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Finally, Weiss Ratings raised shares of Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Hagerty presently has an average rating of “Hold” and a consensus target price of $13.44.

About Hagerty

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.