Hagerty (NYSE:HGTY) Insider Sells $627,500.00 in Stock

Hagerty, Inc. (NYSE:HGTY) insider Kenneth Ahn sold 50,000 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $12.55, for a total value of $627,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, January 12th, Kenneth Ahn sold 50,000 shares of Hagerty stock. The shares were sold at an average price of $12.86, for a total value of $643,000.00.
• On Friday, January 9th, Kenneth Ahn sold 1,350 shares of Hagerty stock. The stock was sold at an average price of $13.25, for a total transaction of $17,887.50.
• On Monday, January 5th, Kenneth Ahn sold 164,870 shares of Hagerty stock. The shares were sold at an average price of $12.79, for a total transaction of $2,108,687.30.
• On Wednesday, January 7th, Kenneth Ahn sold 24,247 shares of Hagerty stock. The stock was 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 shares were sold at an average price of $12.85, for a total value of $139,846.55.

Hagerty Stock Performance

Shares of Hagerty stock traded up $0.09 during trading hours on Thursday, hitting $12.85. 68,369 shares of the company’s stock traded hands, compared to its average volume of 108,491. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 45.88 and a beta of 0.89. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month high of $14.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 1.00. The company has a fifty day simple moving average of $13.09 and a 200-day simple moving average of $11.95.

Hagerty (NYSE:HGTY) last released its earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Hagerty had a net margin of 5.85% and a return on equity of 16.85%. The firm had revenue of $359.01 million for the quarter, compared to analysts’ expectations of $354.36 million. Equities research analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Hagerty

Large investors have recently added to or reduced their stakes in the business. Lincoln Capital LLC increased its stake in shares of Hagerty by 3.2% in the fourth quarter. Lincoln Capital LLC now owns 812,858 shares of the company’s stock worth $10,925,000 after buying an additional 25,471 shares during the period. Greenhaven Road Investment Management L.P. increased its position in shares of Hagerty by 47.1% in the third quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock valued at $32,084,000 after acquiring an additional 853,245 shares during the period. Woodline Partners LP bought a new position in shares of Hagerty during the third quarter valued at about $3,339,000. Polar Capital Holdings Plc boosted its holdings in shares of Hagerty by 9.4% during the third quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock worth $70,042,000 after purchasing an additional 498,389 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Hagerty in the third quarter worth about $155,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Hagerty in a research report on Monday, December 29th. Wall Street Zen upgraded Hagerty from a “hold” rating to a “buy” rating in a research report on Sunday, November 30th. Citigroup initiated coverage on Hagerty in a report on Wednesday, October 1st. They issued an “outperform” rating for the company. JMP Securities assumed coverage on Hagerty in a research report on Wednesday, October 1st. They issued a “market outperform” rating and a $15.00 price target for the company. Finally, Keefe, Bruyette & Woods raised their target price on Hagerty from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 12th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Hagerty currently has an average rating of “Moderate Buy” and a consensus 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.