Hagerty (NYSE:HGTY) Director Acquires $38,000.00 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Anthony Kuczinski bought 4,000 shares of Hagerty stock in a transaction dated Thursday, March 12th. The stock was purchased at an average cost of $9.50 per share, for a total transaction of $38,000.00. Following the completion of the acquisition, the director directly owned 47,277 shares of the company’s stock, valued at approximately $449,131.50. The trade was a 9.24% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hagerty Trading Up 4.6%

NYSE HGTY traded up $0.45 during trading hours on Friday, hitting $10.24. 171,550 shares of the company were exchanged, compared to its average volume of 159,794. The stock has a market cap of $3.50 billion, a PE ratio of 31.03 and a beta of 0.90. 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 50-day moving average price of $11.96 and a 200 day moving average price of $12.24. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $14.00.

Hagerty (NYSE:HGTY) last released its earnings results on Thursday, February 26th. The company reported $0.08 EPS 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 firm had revenue of $388.10 million for the quarter, compared to analysts’ expectations of $323.93 million. Analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HGTY. Neuberger Berman Group LLC lifted its stake in shares of Hagerty by 44.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 8,047,786 shares of the company’s stock worth $96,895,000 after purchasing an additional 2,490,359 shares during the last quarter. Pembroke Management LTD raised its holdings in Hagerty by 127.6% in the third quarter. Pembroke Management LTD now owns 2,261,203 shares of the company’s stock worth $27,225,000 after purchasing an additional 1,267,754 shares in the last quarter. Greenhaven Road Investment Management L.P. raised its holdings in 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 worth $32,084,000 after purchasing an additional 853,245 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Hagerty by 32.3% during the third quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock valued at $41,612,000 after buying an additional 843,433 shares during the last quarter. Finally, Polar Capital Holdings Plc lifted its position 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 valued at $70,042,000 after buying an additional 498,389 shares during the last quarter. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.