Hagerty (NYSE:HGTY) CAO Kevin Delaney Sells 9,440 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) CAO Kevin Delaney sold 9,440 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $12.10, for a total value of $114,224.00. Following the completion of the transaction, the chief accounting officer directly owned 89,610 shares in the company, valued at approximately $1,084,281. This trade represents a 9.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hagerty Stock Up 2.3%

Shares of Hagerty stock opened at $12.34 on Friday. 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, Inc. has a 12 month low of $8.81 and a 12 month high of $14.00. The business has a fifty day simple moving average of $10.71 and a 200 day simple moving average of $11.43. The stock has a market cap of $4.24 billion, a PE ratio of 61.68 and a beta of 0.79.

Hagerty (NYSE:HGTY) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). Hagerty had a net margin of 5.11% and a return on equity of 11.94%. The company had revenue of $311.83 million during the quarter, compared to the consensus estimate of $284.88 million. Research analysts predict that Hagerty, Inc. will post -0.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HGTY. Wall Street Zen downgraded shares of Hagerty from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Hagerty in a report on Wednesday, June 10th. Weiss Ratings raised shares of Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. Wells Fargo & Company cut their target price on shares of Hagerty from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Finally, UBS Group set a $14.00 price objective on shares of Hagerty in a research report on Wednesday, June 10th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.44.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in Hagerty by 107.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock valued at $32,000 after buying an additional 1,591 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Hagerty during the 1st quarter worth approximately $115,000. Renaissance Technologies LLC raised its holdings in shares of Hagerty by 79.2% in the first quarter. Renaissance Technologies LLC now owns 157,668 shares of the company’s stock valued at $1,660,000 after purchasing an additional 69,700 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Hagerty by 49.5% in the first quarter. Dimensional Fund Advisors LP now owns 271,346 shares of the company’s stock valued at $2,857,000 after purchasing an additional 89,898 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Hagerty by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 39,730 shares of the company’s stock worth $418,000 after purchasing an additional 1,209 shares in the last quarter. 20.51% of the stock is owned by institutional investors and hedge funds.

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.