Hagerty (NYSE:HGTY) Trading Down 5.3% – Should You Sell?

Hagerty, Inc. (NYSE:HGTY)’s stock price traded down 5.3% during mid-day trading on Monday . The stock traded as low as $11.94 and last traded at $11.93. 45,487 shares changed hands during trading, a decline of 62% from the average session volume of 119,363 shares. The stock had previously closed at $12.60.

Analyst Upgrades and Downgrades

HGTY has been the subject of several research reports. Wall Street Zen raised Hagerty from a “hold” rating to a “buy” rating in a report on Sunday, November 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Hagerty in a research note on Monday, December 29th. Keefe, Bruyette & Woods increased their price target on shares of Hagerty from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday, November 12th. Finally, JPMorgan Chase & Co. raised their price objective on Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.13.

Hagerty Stock Performance

The stock has a market capitalization of $4.11 billion, a PE ratio of 35.00 and a beta of 0.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a fifty day moving average price of $12.89 and a two-hundred day moving average price of $12.17.

Insider Activity

In related news, insider Kenneth Ahn sold 50,000 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $12.41, for a total value of $620,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have sold 351,350 shares of company stock worth $4,474,572. Corporate insiders own 16.70% of the company’s stock.

Institutional Investors Weigh In On Hagerty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Corton Capital Inc. purchased a new position in Hagerty in the 2nd quarter valued at $273,000. Pembroke Management LTD boosted its stake 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 acquiring an additional 1,267,754 shares in the last quarter. Neuberger Berman Group LLC boosted its position in Hagerty by 1.6% during the second 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 in the last quarter. IFP Advisors Inc purchased a new stake in shares of Hagerty in the 2nd quarter worth about $30,000. Finally, Lincoln Capital LLC grew its position in shares of Hagerty by 29.7% in the third quarter. Lincoln Capital LLC now owns 787,387 shares of the company’s stock valued at $9,441,000 after purchasing an additional 180,078 shares during the last quarter. Hedge funds and other institutional investors own 20.51% of the company’s stock.

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.