Insider Selling: Hagerty (NYSE:HGTY) Director Sells 5,531 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) Director Laurie Harris sold 5,531 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $11.01, for a total value of $60,896.31. Following the completion of the transaction, the director owned 36,689 shares in the company, valued at $403,945.89. This trade represents a 13.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.

Hagerty Stock Performance

Hagerty stock traded up $0.30 during mid-day trading on Wednesday, reaching $11.38. 522,398 shares of the company were exchanged, compared to its average volume of 154,698. The firm’s 50-day simple moving average is $11.24 and its two-hundred day simple moving average is $12.08. Hagerty, Inc. has a twelve month low of $8.22 and a twelve month high of $14.00. The firm has a market cap of $3.90 billion, a PE ratio of 34.49 and a beta of 0.93. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.63 and a current ratio of 1.63.

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

Hedge Funds Weigh In On Hagerty

Large investors have recently made changes to their positions in the stock. Osaic Holdings Inc. increased its holdings in shares of Hagerty by 2,374.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock valued at $50,000 after purchasing an additional 4,749 shares in the last quarter. BNP Paribas Financial Markets grew its position in Hagerty by 165.3% during the third quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock worth $62,000 after buying an additional 3,197 shares during the period. Los Angeles Capital Management LLC acquired a new position in Hagerty during the fourth quarter worth about $98,000. Bank of America Corp DE increased 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 valued at $87,000 after buying an additional 2,726 shares in the last quarter. Finally, Arizona State Retirement System purchased a new position in Hagerty in the third quarter valued at about $141,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on HGTY shares. Wall Street Zen downgraded shares of Hagerty from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. JPMorgan Chase & Co. boosted their price target on shares of Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. Four equities research 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, the company has a consensus rating of “Moderate Buy” and an average price target of $14.00.

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.