Hagerty (NYSE:HGTY) Trading Up 4.9% – Time to Buy?

Hagerty, Inc. (NYSE:HGTY)’s stock price traded up 4.9% during mid-day trading on Friday . The stock traded as high as $10.33 and last traded at $10.2650. 70,658 shares traded hands during trading, a decline of 48% from the average session volume of 135,832 shares. The stock had previously closed at $9.79.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HGTY. JPMorgan Chase & Co. increased their target price on shares of Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Wall Street Zen downgraded Hagerty from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Hagerty has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Hagerty Price Performance

The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.27. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 31.21 and a beta of 0.90. The company’s 50-day moving average is $12.01 and its 200-day moving average is $12.24.

Hagerty (NYSE:HGTY) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. Hagerty had a return on equity of 16.24% and a net margin of 5.98%.The company had revenue of $388.10 million for the quarter, compared to the consensus estimate of $323.93 million. Equities research analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hagerty news, insider Kenneth Ahn sold 50,000 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $12.41, for a total transaction of $620,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 351,350 shares of company stock valued at $4,474,572 in the last quarter. Corporate insiders own 16.70% of the company’s stock.

Institutional Investors Weigh In On Hagerty

Hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. boosted its position in Hagerty by 2,374.5% in the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock valued at $50,000 after buying an additional 4,749 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Hagerty by 165.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock worth $62,000 after acquiring an additional 3,197 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Hagerty by 46.6% in the 2nd 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. Los Angeles Capital Management LLC bought a new stake in Hagerty during the 4th quarter worth approximately $98,000. Finally, Arizona State Retirement System bought a new position in Hagerty in the 3rd quarter valued at $141,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

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.