Renaissance Technologies LLC Purchases 69,700 Shares of Hagerty, Inc. $HGTY

Renaissance Technologies LLC boosted its position in shares of Hagerty, Inc. (NYSE:HGTY) by 79.2% in the first quarter, Holdings Channel reports. The firm owned 157,668 shares of the company’s stock after purchasing an additional 69,700 shares during the period. Renaissance Technologies LLC’s holdings in Hagerty were worth $1,660,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Bristlecone Value Partners LLC acquired a new stake in Hagerty in the fourth quarter worth $779,000. Lincoln Capital LLC grew its holdings in shares of Hagerty by 17.0% in the 1st quarter. Lincoln Capital LLC now owns 950,652 shares of the company’s stock valued at $10,008,000 after buying an additional 137,794 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Hagerty by 24.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company’s stock valued at $338,000 after buying an additional 7,459 shares during the period. AQR Capital Management LLC acquired a new position in shares of Hagerty in the 4th quarter valued at $315,000. Finally, Marshall Wace LLP increased its position in shares of Hagerty by 37.2% in the 2nd quarter. Marshall Wace LLP now owns 22,405 shares of the company’s stock valued at $227,000 after buying an additional 6,072 shares in the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

Hagerty Stock Down 2.6%

Hagerty stock opened at $12.78 on Wednesday. The company has a 50 day moving average of $11.67 and a 200-day moving average of $11.25. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.33. Hagerty, Inc. has a twelve month low of $9.36 and a twelve month high of $14.00. The stock has a market capitalization of $4.39 billion, a PE ratio of 142.02 and a beta of 0.79.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.07. The business had revenue of $354.82 million for the quarter, compared to analyst estimates of $316.21 million. Hagerty had a net margin of 1.81% and a return on equity of 5.15%. On average, equities research analysts anticipate that Hagerty, Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on HGTY shares. Weiss Ratings raised Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. JPMorgan Chase & Co. boosted their target price on Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Truist Financial increased their price target on Hagerty from $11.00 to $13.00 and gave the stock a “hold” rating in a report on Friday, August 7th. UBS Group set a $14.00 price target on Hagerty in a research report on Wednesday, June 10th. Finally, Wells Fargo & Company lifted their price objective on Hagerty from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Hagerty presently has an average rating of “Hold” and an average target price of $14.00.

Insider Transactions at Hagerty

In other Hagerty news, CAO Kevin M. Delaney sold 9,440 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $12.10, for a total transaction of $114,224.00. Following the completion of the transaction, the chief accounting officer owned 89,610 shares in the company, valued at approximately $1,084,281. This represents a 9.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 13,458 shares of company stock worth $163,227. 3.70% of the stock is currently owned by corporate insiders.

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.