Kevin Delaney Sells 3,113 Shares of Hagerty (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) CAO Kevin Delaney sold 3,113 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $12.25, for a total transaction of $38,134.25. Following the completion of the transaction, the chief accounting officer directly owned 83,972 shares in the company, valued at $1,028,657. This represents a 3.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hagerty Price Performance

NYSE:HGTY opened at $12.12 on Wednesday. The stock has a 50 day moving average of $10.80 and a two-hundred day moving average of $11.41. Hagerty, Inc. has a 12 month low of $8.81 and a 12 month high of $14.00. The firm has a market cap of $4.16 billion, a P/E ratio of 60.60 and a beta of 0.79. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.35.

Hagerty (NYSE:HGTY) last released its earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share 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 during the quarter, compared to analysts’ expectations of $284.88 million. On average, analysts expect that Hagerty, Inc. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HGTY. Wells Fargo & Company dropped their target price on shares of Hagerty from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Wall Street Zen raised shares of Hagerty from a “sell” rating to a “hold” rating in a research note on Saturday. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Hagerty in a research report on Wednesday, June 10th. 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. Finally, UBS Group set a $14.00 price objective on shares of Hagerty in a report on Wednesday, June 10th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.44.

Institutional Trading of Hagerty

A number of hedge funds and other institutional investors have recently modified their holdings of HGTY. EverSource Wealth Advisors LLC boosted its position in shares of Hagerty by 107.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock valued at $32,000 after acquiring an additional 1,591 shares during the last quarter. Osaic Holdings Inc. increased its position in Hagerty by 2,374.5% during the second 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 increased 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 last quarter. Bank of America Corp DE raised its stake in Hagerty by 46.6% during the second 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 during the period. Finally, Los Angeles Capital Management LLC purchased a new position in Hagerty during the fourth quarter worth about $98,000. 20.51% of the stock is owned by institutional investors and hedge funds.

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.