Insider Selling: Hagerty (NYSE:HGTY) Insider Sells 164,870 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) insider Kenneth Ahn sold 164,870 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was 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 through this hyperlink.

Kenneth Ahn also recently made the following trade(s):

• On Wednesday, January 7th, Kenneth Ahn sold 24,247 shares of Hagerty stock. The shares were sold at an average price of $13.08, for a total value of $317,150.76.
• On Tuesday, January 6th, Kenneth Ahn sold 10,883 shares of Hagerty stock. The stock was sold at an average price of $12.85, for a total value of $139,846.55.

Hagerty Stock Performance

HGTY stock traded up $0.14 during midday trading on Wednesday, reaching $13.12. 121,167 shares of the company were exchanged, compared to its average volume of 168,317. Hagerty, Inc. has a one year low of $8.03 and a one year high of $14.00. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 46.86 and a beta of 0.89. The business has a 50-day moving average price of $12.89 and a two-hundred day moving average price of $11.75. 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 (NYSE:HGTY) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. The company had revenue of $359.01 million for the quarter, compared to analyst estimates of $354.36 million. Hagerty had a net margin of 5.85% and a return on equity of 16.85%. Equities research analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current year.

Institutional Trading of Hagerty

Several large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its stake in Hagerty by 24.9% during the first quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company’s stock worth $338,000 after acquiring an additional 7,459 shares in the last quarter. Lincoln Capital LLC grew its holdings in shares of Hagerty by 9.4% during the 2nd quarter. Lincoln Capital LLC now owns 607,309 shares of the company’s stock valued at $6,140,000 after purchasing an additional 52,023 shares during the last quarter. KLP Kapitalforvaltning AS increased its position in Hagerty by 228.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock worth $106,000 after purchasing an additional 7,300 shares in the last quarter. IFP Advisors Inc bought a new position in Hagerty in the 2nd quarter valued at approximately $30,000. Finally, Scholtz & Company LLC acquired a new stake in Hagerty in the second quarter valued at approximately $2,429,000. 20.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HGTY. Weiss Ratings reiterated a “hold (c+)” rating on shares of Hagerty in a research note on Monday, December 29th. Citigroup started coverage on Hagerty in a research report on Wednesday, October 1st. They set an “outperform” rating on the stock. BMO Capital Markets assumed coverage on shares of Hagerty in a research report on Monday, September 22nd. They issued a “market perform” rating and a $13.00 target price for the company. JMP Securities assumed coverage on shares of Hagerty in a research report on Wednesday, October 1st. They set a “market outperform” rating and a $15.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Hagerty from a “hold” rating to a “buy” rating in a research report on Sunday, November 30th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $14.13.

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.