Hagerty, Inc. (NYSE:HGTY) Short Interest Update

Hagerty, Inc. (NYSE:HGTY) was the recipient of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 323,186 shares, a decrease of 15.1% from the December 31st total of 380,573 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 116,983 shares, the short-interest ratio is presently 2.8 days. Based on an average daily volume of 116,983 shares, the short-interest ratio is presently 2.8 days. Currently, 0.1% of the shares of the stock are short sold.

Hagerty Stock Up 0.6%

HGTY stock traded up $0.08 during midday trading on Wednesday, hitting $12.46. The company’s stock had a trading volume of 39,305 shares, compared to its average volume of 123,689. Hagerty has a 52-week low of $8.03 and a 52-week high of $14.00. The firm has a 50-day simple moving average of $12.94 and a 200-day simple moving average of $12.12. 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 firm has a market capitalization of $4.26 billion, a P/E ratio of 45.00 and a beta of 0.89.

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. Hagerty had a return on equity of 16.85% and a net margin of 5.85%.The business had revenue of $359.01 million during the quarter, compared to the consensus estimate of $354.36 million. As a group, equities analysts forecast that Hagerty will post 0.22 EPS for the current year.

Insider Activity at Hagerty

In related news, insider Kenneth Ahn sold 50,000 shares of Hagerty stock in a transaction on Monday, January 26th. The shares were sold at an average price of $12.41, for a total transaction of $620,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 351,350 shares of company stock worth $4,474,572. 16.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hagerty

Several institutional investors and hedge funds have recently modified their holdings of the stock. Neuberger Berman Group LLC lifted its position 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 worth $96,895,000 after purchasing an additional 2,490,359 shares in the last quarter. Pembroke Management LTD lifted its holdings in 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. Greenhaven Road Investment Management L.P. lifted its stake in shares of Hagerty by 47.1% in the third quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock worth $32,084,000 after acquiring an additional 853,245 shares in the last quarter. Vanguard Group Inc. increased its holdings in Hagerty by 32.3% during 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 during the last quarter. Finally, Polar Capital Holdings Plc grew its position in shares of 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 buying an additional 498,389 shares in the last quarter. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hagerty in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Hagerty from a “hold” rating to a “buy” rating in a report on Sunday, November 30th. Keefe, Bruyette & Woods upped their price target on Hagerty from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. Finally, JPMorgan Chase & Co. upped their target price on Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company 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.