Hagerty, Inc. $HGTY Shares Sold by Greenhaven Road Investment Management L.P.

Greenhaven Road Investment Management L.P. trimmed its position in Hagerty, Inc. (NYSE:HGTY) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,616,654 shares of the company’s stock after selling 48,130 shares during the period. Hagerty makes up about 5.9% of Greenhaven Road Investment Management L.P.’s portfolio, making the stock its largest holding. Greenhaven Road Investment Management L.P.’s holdings in Hagerty were worth $35,168,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Osaic Holdings Inc. lifted its position in shares of Hagerty by 2,374.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock valued at $50,000 after acquiring an additional 4,749 shares during the last quarter. BNP Paribas Financial Markets lifted its position 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 valued at $62,000 after acquiring an additional 3,197 shares during the last quarter. Bank of America Corp DE lifted its position 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 valued at $87,000 after acquiring an additional 2,726 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Hagerty during the 4th quarter valued at $98,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Hagerty during the 3rd quarter valued at $155,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

Hagerty Price Performance

Shares of NYSE:HGTY opened at $10.88 on Friday. The company’s fifty day moving average is $10.59 and its two-hundred day moving average is $11.60. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.35. Hagerty, Inc. has a 12-month low of $8.81 and a 12-month high of $14.00. The company has a market cap of $3.74 billion, a P/E ratio of 54.42 and a beta of 0.82.

Hagerty (NYSE:HGTY) last announced its earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.05). Hagerty had a net margin of 5.11% and a return on equity of 11.94%. The firm had revenue of $311.83 million for the quarter, compared to analyst estimates of $284.88 million. Equities analysts expect that Hagerty, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Transactions at Hagerty

In other Hagerty news, Director Laurie Harris sold 5,531 shares of the business’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $11.01, for a total transaction of $60,896.31. Following the sale, the director directly owned 36,689 shares of the company’s stock, valued at $403,945.89. The trade was a 13.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 16.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group set a $14.00 price objective on Hagerty in a research report on Wednesday. Wall Street Zen downgraded Hagerty from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded Hagerty from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Hagerty in a research report on Wednesday. Finally, Truist Financial cut their price objective on Hagerty from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Hagerty currently has a consensus rating of “Hold” and an average target price of $13.44.

Hagerty 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.