Hagerty (NYSE:HGTY) CAO Kevin Delaney Sells 905 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) CAO Kevin Delaney sold 905 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $12.01, for a total value of $10,869.05. Following the completion of the sale, the chief accounting officer owned 99,050 shares in the company, valued at $1,189,590.50. This represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hagerty Price Performance

NYSE HGTY traded up $0.28 during trading on Thursday, hitting $12.34. 130,491 shares of the stock traded hands, compared to its average volume of 157,362. The company has a market capitalization of $4.24 billion, a P/E ratio of 61.68 and a beta of 0.79. The firm has a 50-day simple moving average of $10.67 and a 200-day simple moving average of $11.43. 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.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data 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). The firm had revenue of $311.83 million for the quarter, compared to analysts’ expectations of $284.88 million. Hagerty had a return on equity of 11.94% and a net margin of 5.11%. As a group, analysts predict that Hagerty, Inc. will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial dropped their price objective on shares of Hagerty from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, May 11th. UBS Group set a $14.00 price target on shares of Hagerty in a report on Wednesday, June 10th. Wells Fargo & Company dropped their price target on Hagerty from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Weiss Ratings raised Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen lowered Hagerty from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.44.

Institutional Investors Weigh In On Hagerty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC raised its stake in shares of Hagerty by 44.8% during the third quarter. Neuberger Berman Group LLC now owns 8,047,786 shares of the company’s stock valued at $96,895,000 after acquiring an additional 2,490,359 shares in the last quarter. Greenhaven Road Investment Management L.P. increased its position in Hagerty by 47.1% during the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock valued at $32,084,000 after purchasing an additional 853,245 shares during the period. TD Asset Management Inc purchased a new stake in shares of Hagerty in the 3rd quarter worth approximately $1,058,000. Bristlecone Value Partners LLC bought a new position in shares of Hagerty during the fourth quarter valued at approximately $779,000. Finally, Yorktown Management & Research Co Inc purchased a new position in Hagerty during the fourth quarter valued at approximately $270,000. Institutional investors 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.