Hagerty (NYSE:HGTY) Major Shareholder Holding Corp. Hagerty Sells 1,387,500 Shares

Hagerty, Inc. (NYSE:HGTY) major shareholder Holding Corp. Hagerty sold 1,387,500 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $11.47, for a total transaction of $15,914,625.00. Following the transaction, the insider owned 9,250,000 shares in the company, valued at approximately $106,097,500. This represents a 13.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Holding Corp. Hagerty also recently made the following trade(s):

• On Wednesday, September 9th, Holding Corp. Hagerty sold 9,250,000 shares of Hagerty stock. The stock was sold at an average price of $11.47, for a total transaction of $106,097,500.00.

Hagerty Stock Up 0.3%

Shares of NYSE:HGTY traded up $0.04 during midday trading on Friday, hitting $13.53. 572,272 shares of the stock were exchanged, compared to its average volume of 197,808. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.53 and a current ratio of 1.53. Hagerty, Inc. has a 52-week low of $9.36 and a 52-week high of $14.00. The business’s fifty day simple moving average is $12.61 and its two-hundred day simple moving average is $11.39. The company has a market capitalization of $4.65 billion, a PE ratio of 150.32 and a beta of 0.81.

Hagerty (NYSE:HGTY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07. Hagerty had a return on equity of 5.15% and a net margin of 1.81%.The firm had revenue of $354.82 million for the quarter, compared to the consensus estimate of $316.21 million. As a group, research analysts predict that Hagerty, Inc. will post 0.01 earnings per share for the current fiscal year.

Institutional Trading of Hagerty

Several large investors have recently made changes to their positions in the stock. Ancora Advisors LLC acquired a new position in shares of Hagerty during the 2nd quarter valued at about $28,000. EverSource Wealth Advisors LLC lifted its holdings in Hagerty by 107.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock worth $32,000 after purchasing an additional 1,591 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in Hagerty by 2,374.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock worth $50,000 after purchasing an additional 4,749 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Hagerty by 165.3% during the third 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 during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in Hagerty during the second quarter worth approximately $63,000. Institutional investors own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

HGTY has been the subject of several recent research reports. UBS Group set a $14.00 price target on Hagerty in a research note on Wednesday, June 10th. Keefe, Bruyette & Woods raised their price objective on shares of Hagerty from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. lifted 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 Tuesday, July 14th. Weiss Ratings raised shares of Hagerty from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen upgraded shares of Hagerty from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $14.00.

Hagerty Company Profile

Hagerty, Inc is an automotive lifestyle company focused on serving classic and enthusiast vehicle owners. Through its insurance operations, the company provides specialty insurance products and related services designed for collector cars, classic vehicles, motorsports vehicles and other vehicles that may require coverage tailored to their usage and value.

Hagerty also offers automotive valuation tools, vehicle research and pricing information, membership benefits, and digital content for enthusiasts.