Hagerty, Inc. (NYSE:HGTY) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Hagerty, Inc. (NYSE:HGTY) have received an average rating of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $14.00.

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Hagerty from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Keefe, Bruyette & Woods lifted their price target on shares of Hagerty from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 12th. Wall Street Zen raised shares of Hagerty from a “hold” rating to a “buy” rating in a research note on Sunday, November 30th. 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 objective on the stock. Finally, Oppenheimer began coverage on shares of Hagerty in a research note on Wednesday, September 17th. They issued an “outperform” rating and a $15.00 price objective on the stock.

Hagerty Stock Down 2.0%

Shares of HGTY opened at $13.33 on Wednesday. The business’s fifty day moving average price is $12.69 and its two-hundred day moving average price is $11.63. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 47.60 and a beta of 0.89. Hagerty has a 52 week low of $8.03 and a 52 week high of $14.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.00 and a current ratio of 1.00.

Hagerty (NYSE:HGTY) last released its earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. Hagerty had a return on equity of 16.85% and a net margin of 5.85%.The company had revenue of $359.01 million during the quarter, compared to the consensus estimate of $354.36 million. On average, analysts predict that Hagerty will post 0.22 earnings per share for the current year.

Insider Activity

In related news, Director Robert I. Kauffman sold 55,524 shares of Hagerty stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $12.16, for a total transaction of $675,171.84. Following the completion of the sale, the director directly owned 1,023,525 shares of the company’s stock, valued at $12,446,064. The trade was a 5.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 234,780 shares of company stock valued at $2,745,340. 16.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hagerty

Several hedge funds have recently added to or reduced their stakes in HGTY. Neuberger Berman Group LLC boosted its holdings in Hagerty by 44.8% during the third quarter. Neuberger Berman Group LLC now owns 8,047,786 shares of the company’s stock worth $96,895,000 after buying an additional 2,490,359 shares during the last quarter. Pembroke Management LTD boosted its stake in Hagerty by 127.6% during the 3rd quarter. Pembroke Management LTD now owns 2,261,203 shares of the company’s stock worth $27,225,000 after acquiring an additional 1,267,754 shares during the last quarter. Greenhaven Road Investment Management L.P. boosted its stake in Hagerty by 47.1% during the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock worth $32,084,000 after acquiring an additional 853,245 shares during the last quarter. Vanguard Group Inc. grew its holdings in Hagerty by 32.3% during the third quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock valued at $41,612,000 after purchasing an additional 843,433 shares during the period. Finally, Polar Capital Holdings Plc increased its stake in Hagerty by 9.4% in the third quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock valued at $70,042,000 after purchasing an additional 498,389 shares in the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

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.