Hagerty, Inc. (NYSE:HGTY) Given Consensus Rating of “Hold” by Analysts

Hagerty, Inc. (NYSE:HGTY) has received an average rating of “Hold” from the nine research firms that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $14.00.

Several equities analysts recently weighed in on the stock. Truist Financial increased their price target on shares of Hagerty from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Friday, August 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Hagerty from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday. Wells Fargo & Company increased their target price on shares of Hagerty from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. UBS Group set a $14.00 target price on shares of Hagerty in a research report on Wednesday, June 10th. Finally, Wall Street Zen upgraded shares of Hagerty from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th.

Insiders Place Their Bets

In other Hagerty news, CAO Kevin M. Delaney sold 9,440 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $12.10, for a total value of $114,224.00. Following the completion of the sale, the chief accounting officer directly owned 89,610 shares of the company’s stock, valued at $1,084,281. This trade represents a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,458 shares of company stock worth $163,227 over the last three months. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hagerty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lincoln Capital LLC grew its position in shares of Hagerty by 2.4% in the second quarter. Lincoln Capital LLC now owns 973,651 shares of the company’s stock valued at $11,606,000 after purchasing an additional 22,999 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Hagerty by 107.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock worth $32,000 after purchasing an additional 1,591 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Hagerty during the 1st quarter worth about $115,000. Renaissance Technologies LLC boosted its stake in Hagerty by 79.2% in the 1st quarter. Renaissance Technologies LLC now owns 157,668 shares of the company’s stock worth $1,660,000 after purchasing an additional 69,700 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Hagerty by 49.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 271,346 shares of the company’s stock worth $2,857,000 after purchasing an additional 89,898 shares during the period. Institutional investors own 20.51% of the company’s stock.

Hagerty Stock Performance

Shares of Hagerty stock opened at $12.72 on Thursday. The business’s fifty day simple moving average is $11.73 and its 200 day simple moving average is $11.25. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.33. Hagerty has a 12 month low of $9.36 and a 12 month high of $14.00. The firm has a market capitalization of $4.37 billion, a P/E ratio of 141.33 and a beta of 0.79.

Hagerty (NYSE:HGTY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07. The firm had revenue of $354.82 million during the quarter, compared to the consensus estimate of $316.21 million. Hagerty had a return on equity of 5.15% and a net margin of 1.81%. As a group, analysts anticipate that Hagerty will post -0.1 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.