Hagerty, Inc. (NYSE:HGTY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Hagerty, Inc. (NYSE:HGTY) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $14.00.

A number of brokerages have commented on HGTY. Weiss Ratings restated a “hold (c+)” rating on shares of Hagerty in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their target price on Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Finally, Wall Street Zen cut shares of Hagerty from a “buy” rating to a “hold” rating in a report on Saturday, February 14th.

Insider Activity at Hagerty

In other news, insider Kenneth Ahn sold 164,870 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $12.79, for a total transaction of $2,108,687.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anthony J. Kuczinski purchased 4,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was bought at an average cost of $9.50 per share, for a total transaction of $38,000.00. Following the completion of the purchase, the director directly owned 47,277 shares of the company’s stock, valued at $449,131.50. The trade was a 9.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders sold 351,350 shares of company stock worth $4,474,572. Company insiders own 16.70% of the company’s stock.

Institutional Trading of Hagerty

A number of institutional investors have recently bought and sold shares of HGTY. Osaic Holdings Inc. grew its stake 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 purchasing an additional 4,749 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Hagerty by 165.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock worth $62,000 after purchasing an additional 3,197 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Hagerty by 46.6% during the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock worth $87,000 after purchasing an additional 2,726 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Hagerty during the 4th quarter valued at about $98,000. Finally, Arizona State Retirement System bought a new stake in shares of Hagerty in the 3rd quarter valued at approximately $141,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

Hagerty Price Performance

HGTY opened at $10.45 on Monday. The firm has a market capitalization of $3.58 billion, a P/E ratio of 31.66 and a beta of 0.90. The stock has a fifty day moving average of $11.70 and a 200-day moving average of $12.22. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.27. Hagerty has a 12-month low of $8.03 and a 12-month high of $14.00.

Hagerty (NYSE:HGTY) last issued its quarterly earnings results 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. The business had revenue of $388.10 million for the quarter, compared to the consensus estimate of $323.93 million. Hagerty had a return on equity of 16.24% and a net margin of 5.98%. Equities analysts forecast that Hagerty will post 0.22 EPS for the current fiscal year.

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.