Hagerty, Inc. (NYSE:HGTY) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Hagerty, Inc. (NYSE:HGTY) have earned a consensus rating of “Hold” from the nine analysts that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $13.3750.

HGTY has been the topic of several recent research reports. Wall Street Zen cut Hagerty from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Wells Fargo & Company reduced their price target on Hagerty from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. Weiss Ratings cut Hagerty from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 20th. Finally, Truist Financial reduced their price target on Hagerty from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, May 11th.

Insider Buying and Selling at Hagerty

In related news, Director Anthony J. Kuczinski bought 4,000 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were acquired at an average cost of $9.50 per share, with a total value of $38,000.00. Following the completion of the acquisition, the director owned 47,277 shares of the company’s stock, valued at $449,131.50. The trade was a 9.24% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Laurie Harris sold 5,531 shares of the business’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $11.01, for a total value of $60,896.31. Following the completion of the sale, the director directly owned 36,689 shares in the company, valued at $403,945.89. This trade represents a 13.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 16.70% of the company’s stock.

Institutional Investors Weigh In On Hagerty

Several hedge funds have recently added to or reduced their stakes in HGTY. EverSource Wealth Advisors LLC boosted its holdings in Hagerty by 107.4% in the first quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock worth $32,000 after acquiring an additional 1,591 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Hagerty by 2,374.5% in the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock worth $50,000 after acquiring an additional 4,749 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Hagerty by 165.3% in the third quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock worth $62,000 after acquiring an additional 3,197 shares in the last quarter. Bank of America Corp DE boosted its holdings in Hagerty by 46.6% in the second quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock worth $87,000 after acquiring an additional 2,726 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Hagerty in the fourth quarter worth $98,000. 20.51% of the stock is owned by institutional investors.

Hagerty Price Performance

Shares of HGTY stock opened at $10.14 on Friday. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 50.69 and a beta of 0.82. The business’s fifty day moving average is $10.59 and its 200 day moving average is $11.72. Hagerty has a twelve month low of $8.81 and a twelve month high of $14.00. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.35.

Hagerty (NYSE:HGTY) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.05). The firm had revenue of $311.83 million during the quarter, compared to analysts’ expectations of $284.88 million. Hagerty had a return on equity of 11.94% and a net margin of 5.11%. Research analysts expect that Hagerty will post -0.11 EPS for the current fiscal year.

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.