Pembroke Management LTD Has $27.23 Million Stake in Hagerty, Inc. $HGTY

Pembroke Management LTD boosted its stake in shares of Hagerty, Inc. (NYSE:HGTY) by 127.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,261,203 shares of the company’s stock after acquiring an additional 1,267,754 shares during the quarter. Hagerty accounts for 2.7% of Pembroke Management LTD’s portfolio, making the stock its 15th largest position. Pembroke Management LTD owned about 0.66% of Hagerty worth $27,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in HGTY. Neuberger Berman Group LLC grew its holdings in shares of Hagerty by 1.6% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,557,427 shares of the company’s stock worth $56,186,000 after purchasing an additional 88,634 shares during the last quarter. Greenhaven Road Investment Management L.P. boosted its position in Hagerty by 33.2% in the second quarter. Greenhaven Road Investment Management L.P. now owns 1,811,539 shares of the company’s stock valued at $18,315,000 after buying an additional 451,033 shares in the last quarter. Lincoln Capital LLC grew its stake in Hagerty by 9.4% during the second quarter. Lincoln Capital LLC now owns 607,309 shares of the company’s stock worth $6,140,000 after buying an additional 52,023 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Hagerty by 2.0% during the second quarter. Geode Capital Management LLC now owns 254,634 shares of the company’s stock worth $2,576,000 after buying an additional 5,077 shares in the last quarter. Finally, Scholtz & Company LLC bought a new position in shares of Hagerty in the second quarter valued at approximately $2,429,000. 20.51% of the stock is owned by institutional investors.

Insider Activity at Hagerty

In other Hagerty news, Director Robert I. Kauffman sold 15,270 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $11.12, for a total value of $169,802.40. Following the transaction, the director directly owned 898,097 shares of the company’s stock, valued at approximately $9,986,838.64. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth Ahn sold 50,000 shares of Hagerty stock in a transaction on Monday, January 12th. The stock was sold at an average price of $12.86, for a total transaction of $643,000.00. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 326,351 shares of company stock valued at $4,063,260. 16.70% of the stock is owned by corporate insiders.

Hagerty Trading Down 0.8%

HGTY stock opened at $12.67 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.17. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $14.00. The company has a market cap of $4.33 billion, a P/E ratio of 45.24 and a beta of 0.89. The business has a fifty day moving average of $13.13 and a 200-day moving average of $11.88.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on HGTY. JMP Securities initiated coverage on Hagerty in a research report on Wednesday, October 1st. They set a “market outperform” rating and a $15.00 price target on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Hagerty in a research note on Monday, December 29th. Wells Fargo & Company assumed coverage on Hagerty in a research note on Friday, October 3rd. They issued an “equal weight” rating and a $13.00 target price for the company. Citigroup initiated coverage on Hagerty in a report on Wednesday, October 1st. They issued an “outperform” rating for the company. Finally, Wall Street Zen upgraded shares of Hagerty from a “hold” rating to a “buy” rating in a research report on Sunday, November 30th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.13.

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.