Hagerty (NYSE:HGTY) Upgraded by Wall Street Zen to Buy Rating

Hagerty (NYSE:HGTY) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Several other equities research analysts also recently issued reports on the company. Evercore ISI initiated coverage on Hagerty in a report on Wednesday, August 27th. They set an “outperform” rating and a $14.00 price objective on the stock. Wells Fargo & Company assumed coverage on shares of Hagerty in a research note on Friday, October 3rd. They issued an “equal weight” rating and a $13.00 price target for the company. Citizens Jmp started coverage on shares of Hagerty in a report on Wednesday, October 1st. They issued a “mkt outperform” rating and a $15.00 price target on the stock. Oppenheimer started coverage on shares of Hagerty in a research note on Wednesday, September 17th. They set an “outperform” rating and a $15.00 price objective on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Hagerty in a research report on Monday, November 24th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.00.

Hagerty Price Performance

HGTY opened at $13.36 on Friday. Hagerty has a twelve month low of $8.03 and a twelve month high of $13.86. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 47.71 and a beta of 0.91. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $12.18 and a 200 day simple moving average of $11.09.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The company had revenue of $359.01 million during the quarter, compared to analysts’ expectations of $354.36 million. Hagerty had a net margin of 5.85% and a return on equity of 16.85%. Hagerty has set its FY 2025 guidance at EPS. Equities research analysts expect that Hagerty will post 0.22 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert I. Kauffman sold 55,524 shares of Hagerty stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $12.16, for a total value of $675,171.84. Following the completion of the transaction, the director directly owned 1,023,525 shares of the company’s stock, valued at approximately $12,446,064. The trade was a 5.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 390,432 shares of company stock valued at $4,642,401. Company insiders own 16.70% of the company’s stock.

Hedge Funds Weigh In On Hagerty

A number of large investors have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Hagerty during the first quarter valued at approximately $93,000. Swiss National Bank boosted its position in Hagerty by 15.3% during the 1st quarter. Swiss National Bank now owns 61,100 shares of the company’s stock valued at $552,000 after purchasing an additional 8,100 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Hagerty by 4.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,768 shares of the company’s stock worth $1,291,000 after buying an additional 5,667 shares during the last quarter. Virtu Financial LLC bought a new stake in Hagerty in the first quarter valued at $108,000. Finally, Neuberger Berman Group LLC lifted its stake in Hagerty by 15.7% in the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company’s stock valued at $49,438,000 after buying an additional 743,597 shares during the last quarter. Institutional investors own 20.51% of the company’s stock.

Hagerty Company Profile

Hagerty, Inc provides insurance agency services worldwide. It offers motor vehicle and boat insurance products; and reinsurance products. The company provides Hagerty Media, which publishes contents through the Hagerty Drivers Club Magazine (HDC), video content, and social media channels; HDC that offers subscription based products and services, including HDC Magazine, automotive enthusiast events, proprietary vehicle valuation tools, emergency roadside services, and special vehicle-related discounts.