Hagerty (NYSE:HGTY) CAO Kevin Delaney Sells 3,113 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) CAO Kevin Delaney sold 3,113 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $12.25, for a total transaction of $38,134.25. Following the completion of the transaction, the chief accounting officer owned 83,972 shares in the company, valued at approximately $1,028,657. The trade was a 3.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hagerty Stock Down 1.5%

HGTY stock traded down $0.18 during trading on Monday, hitting $12.21. 143,077 shares of the stock traded hands, compared to its average volume of 157,251. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 61.05 and a beta of 0.79. 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’s 50 day moving average is $10.74 and its two-hundred day moving average is $11.42.

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

Institutional Trading of Hagerty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Greenhaven Road Investment Management L.P. lifted its position in shares of Hagerty by 47.1% during the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock valued at $32,084,000 after buying an additional 853,245 shares in the last quarter. Vanguard Group Inc. increased its holdings in Hagerty by 32.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock worth $41,612,000 after acquiring an additional 843,433 shares in the last quarter. Polar Capital Holdings Plc raised its stake in Hagerty by 9.4% during the 3rd quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock worth $70,042,000 after acquiring an additional 498,389 shares during the period. Woodline Partners LP bought a new stake in Hagerty during the 3rd quarter worth approximately $3,339,000. Finally, Neuberger Berman Group LLC lifted its holdings in Hagerty by 2.8% during the fourth quarter. Neuberger Berman Group LLC now owns 8,269,620 shares of the company’s stock valued at $111,144,000 after purchasing an additional 221,834 shares in the last quarter. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HGTY. Truist Financial dropped their price target on Hagerty from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. Wells Fargo & Company cut their price target on Hagerty from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Hagerty in a research report on Wednesday, June 10th. UBS Group set a $14.00 price objective on shares of Hagerty in a research note on Wednesday, June 10th. Finally, Wall Street Zen raised shares of Hagerty from a “sell” rating to a “hold” rating in a report on Saturday. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hagerty has a consensus 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.