Hagerty, Inc. (HGTY) – What Are Researchers Thinking About This Stock?

Shares of Hagerty, Inc. (NYSE:HGTY) have received an average recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $13.80.

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lifted 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 Tuesday, July 14th. Keefe, Bruyette & Woods raised their price objective on shares of Hagerty from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Truist Financial boosted their target price on Hagerty from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Friday, August 7th. Weiss Ratings raised Hagerty from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Wells Fargo & Company raised their target price on shares of Hagerty from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th.

Insider Buying and Selling at Hagerty

In other news, major shareholder Holding Corp. Hagerty sold 1,387,500 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $11.47, for a total transaction of $15,914,625.00. Following the transaction, the insider directly owned 9,250,000 shares in the company, valued at approximately $106,097,500. This trade represents a 13.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Hagerty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vise Technologies Inc. purchased a new position in Hagerty in the third quarter worth $139,000. E. Ohman J or Asset Management AB grew its stake in Hagerty by 4.2% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 48,047 shares of the company’s stock worth $647,000 after buying an additional 1,941 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Hagerty during the 3rd quarter valued at about $55,000. Lincoln Capital LLC increased its position in Hagerty by 38.7% during the 3rd quarter. Lincoln Capital LLC now owns 1,350,809 shares of the company’s stock valued at $18,209,000 after buying an additional 377,158 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Hagerty during the 2nd quarter valued at about $170,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Hagerty Trading Up 1.4%

Shares of NYSE HGTY opened at $15.80 on Tuesday. The business’s 50 day moving average is $14.18 and its two-hundred day moving average is $12.08. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.53 and a quick ratio of 1.53. Hagerty has a 1-year low of $9.36 and a 1-year high of $16.00. The stock has a market capitalization of $5.43 billion, a P/E ratio of 175.59 and a beta of 0.83.

Hagerty (NYSE:HGTY) last issued 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. Hagerty had a return on equity of 5.15% and a net margin of 1.81%. The business had revenue of $354.82 million for the quarter, compared to the consensus estimate of $316.21 million. As a group, research analysts expect that Hagerty will post 0.01 EPS for the current year.

Hagerty Company Profile

Hagerty, Inc is an automotive lifestyle and insurance company focused on enthusiasts and owners of classic, collector and specialty vehicles. The company provides insurance brokerage and related services designed for collector vehicles, with coverage generally underwritten by third-party insurance carriers.

In addition to insurance, Hagerty offers vehicle valuation and pricing information, membership programs, editorial content, events and enthusiast-focused digital services. Its offerings include Hagerty Drivers Club, Hagerty Valuations and Hagerty Marketplace, which connects buyers and sellers of collectible vehicles.