Hagerty, Inc. $HGTY is Greenhaven Road Investment Management L.P.’s 2nd Largest Position

Greenhaven Road Investment Management L.P. increased its position in shares of Hagerty, Inc. (NYSE:HGTY) by 47.1% in the third quarter, HoldingsChannel reports. The firm owned 2,664,784 shares of the company’s stock after acquiring an additional 853,245 shares during the quarter. Hagerty accounts for 4.7% of Greenhaven Road Investment Management L.P.’s portfolio, making the stock its 2nd biggest position. Greenhaven Road Investment Management L.P.’s holdings in Hagerty were worth $32,084,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. 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 worth $96,895,000 after buying an additional 2,490,359 shares during the period. Polar Capital Holdings Plc lifted its stake in Hagerty by 9.4% during the 3rd quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock valued at $70,042,000 after acquiring an additional 498,389 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Hagerty by 32.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock valued at $41,612,000 after acquiring an additional 843,433 shares during the last quarter. Pembroke Management LTD boosted its holdings 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 valued at $27,225,000 after acquiring an additional 1,267,754 shares during the last quarter. Finally, Lincoln Capital LLC increased its stake in shares of Hagerty by 29.7% in the third quarter. Lincoln Capital LLC now owns 787,387 shares of the company’s stock worth $9,441,000 after acquiring an additional 180,078 shares during the period. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

HGTY has been the subject of several recent research reports. Wall Street Zen cut shares of Hagerty from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. JPMorgan Chase & Co. increased 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. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Hagerty in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.00.

Insider Buying and Selling at Hagerty

In other Hagerty 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 value of $620,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anthony J. Kuczinski acquired 4,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was purchased at an average price of $9.50 per share, with a total value of $38,000.00. Following the transaction, the director owned 47,277 shares of the company’s stock, valued at approximately $449,131.50. This trade represents a 9.24% increase in their position. The SEC filing for this purchase provides additional information. 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.

Hagerty Price Performance

Shares of NYSE HGTY opened at $10.41 on Thursday. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 31.55 and a beta of 0.90. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $14.00. The firm’s 50 day simple moving average is $11.81 and its 200-day simple moving average is $12.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.63 and a quick ratio of 1.63.

Hagerty (NYSE:HGTY) last posted its earnings results on Thursday, February 26th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.04. Hagerty had a net margin of 5.98% and a return on equity of 16.24%. The firm had revenue of $388.10 million during the quarter, compared to analyst estimates of $323.93 million. Analysts expect that Hagerty, Inc. will post 0.22 EPS for the current year.

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.