Hagerty (NYSE:HGTY) Sees Large Volume Increase – What’s Next?

Shares of Hagerty, Inc. (NYSE:HGTY) saw unusually-high trading volume on Wednesday . Approximately 454,609 shares traded hands during trading, an increase of 325% from the previous session’s volume of 107,036 shares.The stock last traded at $12.41 and had previously closed at $12.14.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HGTY shares. JPMorgan Chase & Co. raised their price target on Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Citigroup assumed coverage on shares of Hagerty in a report on Wednesday, October 1st. They set an “outperform” rating for the company. Citizens Jmp assumed coverage on Hagerty in a research report on Wednesday, October 1st. They issued a “mkt outperform” rating and a $15.00 target price on the stock. Wells Fargo & Company started coverage on Hagerty in a research note on Friday, October 3rd. They set an “equal weight” rating and a $13.00 target price for the company. Finally, Keefe, Bruyette & Woods raised their price target on shares of Hagerty from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, November 12th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.13.

Hagerty Stock Performance

The stock has a market capitalization of $4.27 billion, a P/E ratio of 44.54 and a beta of 0.89. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $13.01 and a two-hundred day moving average price of $12.03.

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

Insider Activity

In other news, insider Kenneth Ahn sold 164,870 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $12.79, for a total transaction of $2,108,687.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 351,350 shares of company stock worth $4,474,572 in the last ninety days. 16.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hagerty

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Neuberger Berman Group LLC grew its stake in shares of Hagerty by 44.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 8,047,786 shares of the company’s stock worth $96,895,000 after acquiring an additional 2,490,359 shares in the last quarter. Polar Capital Holdings Plc boosted its holdings in Hagerty by 9.4% during the third quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock worth $70,042,000 after purchasing an additional 498,389 shares during the last quarter. Vanguard Group Inc. grew its position in Hagerty by 32.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock worth $41,612,000 after purchasing an additional 843,433 shares in the last quarter. Greenhaven Road Investment Management L.P. grew its position in Hagerty by 47.1% in the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock worth $32,084,000 after purchasing an additional 853,245 shares in the last quarter. Finally, Pembroke Management LTD lifted its position in shares of Hagerty by 127.6% during 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. 20.51% of the stock is owned by hedge funds and other institutional investors.

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.