Hagerty (NYSE:HGTY) Insider Sells $643,000.00 in Stock

Hagerty, Inc. (NYSE:HGTY) insider Kenneth Ahn sold 50,000 shares of the firm’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $12.86, for a total value of $643,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Kenneth Ahn also recently made the following trade(s):

• On Friday, January 9th, Kenneth Ahn sold 1,350 shares of Hagerty stock. The stock was sold at an average price of $13.25, for a total transaction of $17,887.50.
• On Monday, January 5th, Kenneth Ahn sold 164,870 shares of Hagerty stock. The shares were sold at an average price of $12.79, for a total transaction of $2,108,687.30.
• On Wednesday, January 7th, Kenneth Ahn sold 24,247 shares of Hagerty stock. The stock was sold at an average price of $13.08, for a total value of $317,150.76.
• On Tuesday, January 6th, Kenneth Ahn sold 10,883 shares of Hagerty stock. The stock was sold at an average price of $12.85, for a total transaction of $139,846.55.

Hagerty Trading Down 2.2%

Shares of NYSE:HGTY traded down $0.29 during midday trading on Tuesday, hitting $12.67. 59,800 shares of the stock traded hands, compared to its average volume of 129,938. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $13.05 and its two-hundred day moving average is $11.84. The stock has a market capitalization of $4.33 billion, a PE ratio of 45.25 and a beta of 0.89. Hagerty, Inc. has a one year low of $8.03 and a one year high of $14.00.

Hagerty (NYSE:HGTY) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Hagerty had a return on equity of 16.85% and a net margin of 5.85%.The company had revenue of $359.01 million for the quarter, compared to the consensus estimate of $354.36 million. As a group, research analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Institutional Trading of Hagerty

Several institutional investors have recently made changes to their positions in the business. Neuberger Berman Group LLC increased its holdings in Hagerty by 44.8% in the 3rd 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 during the last quarter. Polar Capital Holdings Plc raised its stake in Hagerty by 9.4% during the third quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock valued at $70,042,000 after purchasing an additional 498,389 shares in the last quarter. Vanguard Group Inc. raised its stake in Hagerty by 32.3% during the third quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock valued at $41,612,000 after purchasing an additional 843,433 shares in the last quarter. Greenhaven Road Investment Management L.P. lifted its position in Hagerty by 47.1% during the third 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 last quarter. Finally, Pembroke Management LTD grew its stake in shares of Hagerty by 127.6% in the 3rd quarter. Pembroke Management LTD now owns 2,261,203 shares of the company’s stock worth $27,225,000 after buying an additional 1,267,754 shares in the last quarter. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Wall Street Analysts Forecast Growth

HGTY has been the topic of a number of analyst reports. Oppenheimer assumed coverage on Hagerty in a research report on Wednesday, September 17th. They issued an “outperform” rating and a $15.00 price target on the stock. BMO Capital Markets initiated coverage on Hagerty in a research note on Monday, September 22nd. They set a “market perform” rating and a $13.00 price objective for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. Citigroup started coverage on Hagerty in a report on Wednesday, October 1st. They set an “outperform” rating for the company. Finally, Citizens Jmp assumed coverage on Hagerty in a research report on Wednesday, October 1st. They issued a “mkt outperform” rating and a $15.00 price target for the company. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.13.

About Hagerty

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.