Lincoln Capital LLC Has $10.01 Million Position in Hagerty, Inc. $HGTY

Lincoln Capital LLC lifted its holdings in Hagerty, Inc. (NYSE:HGTY) by 17.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 950,652 shares of the company’s stock after acquiring an additional 137,794 shares during the period. Hagerty makes up approximately 1.9% of Lincoln Capital LLC’s portfolio, making the stock its 11th biggest position. Lincoln Capital LLC’s holdings in Hagerty were worth $10,008,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Greenhaven Road Investment Management L.P. grew its stake in Hagerty by 47.1% during the third quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock worth $32,084,000 after purchasing an additional 853,245 shares during the period. Bristlecone Value Partners LLC bought a new stake in Hagerty in the fourth quarter worth approximately $779,000. Goldman Sachs Group Inc. lifted its stake in Hagerty by 203.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 56,035 shares of the company’s stock valued at $753,000 after buying an additional 37,555 shares during the period. Vident Advisory LLC boosted its holdings in shares of Hagerty by 67.2% during the 3rd quarter. Vident Advisory LLC now owns 59,938 shares of the company’s stock worth $722,000 after buying an additional 24,093 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of Hagerty by 44.0% during the 3rd quarter. California State Teachers Retirement System now owns 33,406 shares of the company’s stock worth $402,000 after buying an additional 10,214 shares in the last quarter. 20.51% of the stock is owned by institutional investors and hedge funds.

Hagerty Stock Down 0.4%

Shares of HGTY traded down $0.05 during trading hours on Friday, reaching $12.23. The stock had a trading volume of 75,487 shares, compared to its average volume of 154,358. The firm has a 50-day simple moving average of $10.90 and a 200 day simple moving average of $11.41. Hagerty, Inc. has a 12 month low of $8.81 and a 12 month high of $14.00. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 61.16 and a beta of 0.79.

Hagerty (NYSE:HGTY) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). The business had revenue of $311.83 million for the quarter, compared to the consensus estimate of $284.88 million. Hagerty had a net margin of 5.11% and a return on equity of 11.94%. Equities research analysts predict that Hagerty, Inc. will post -0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on HGTY shares. Wells Fargo & Company raised their price objective on shares of Hagerty from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wall Street Zen raised shares of Hagerty from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Keefe, Bruyette & Woods raised 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. Truist Financial decreased their price target on shares of Hagerty from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, May 11th. Finally, UBS Group set a $14.00 price objective on shares of Hagerty in a report on Wednesday, June 10th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Hagerty has an average rating of “Hold” and an average price target of $13.67.

Insider Buying and Selling at Hagerty

In related news, CAO Kevin M. Delaney sold 3,113 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $12.25, for a total value of $38,134.25. Following the sale, the chief accounting officer owned 83,972 shares in the company, valued at $1,028,657. This represents a 3.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 13,458 shares of company stock valued at $163,227. Corporate insiders own 3.70% of the company’s stock.

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.