Kenneth Ahn Sells 1,350 Shares of Hagerty (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) insider Kenneth Ahn sold 1,350 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $13.25, for a total transaction of $17,887.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Kenneth Ahn also recently made the following trade(s):

• On Monday, January 12th, Kenneth Ahn sold 50,000 shares of Hagerty stock. The stock was sold at an average price of $12.86, for a total transaction of $643,000.00.
• On Monday, January 5th, Kenneth Ahn sold 164,870 shares of Hagerty stock. The shares were sold at an average price of $12.79, for a total value of $2,108,687.30.
• On Wednesday, January 7th, Kenneth Ahn sold 24,247 shares of Hagerty stock. The stock was sold at an average price of $13.08, for a total value of $317,150.76.
• On Tuesday, January 6th, Kenneth Ahn sold 10,883 shares of Hagerty stock. The shares were sold at an average price of $12.85, for a total value of $139,846.55.

Hagerty Price Performance

Shares of HGTY opened at $12.64 on Thursday. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $14.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a fifty day moving average price of $13.10 and a 200 day moving average price of $11.86. The company has a market cap of $4.32 billion, a P/E ratio of 45.14 and a beta of 0.89.

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

Analyst Ratings Changes

HGTY has been the topic of a number of recent analyst reports. Oppenheimer started coverage on Hagerty in a report on Wednesday, September 17th. They set an “outperform” rating and a $15.00 price target on the stock. Wall Street Zen upgraded Hagerty from a “hold” rating to a “buy” rating in a research report on Sunday, November 30th. JMP Securities initiated coverage on Hagerty in a research report on Wednesday, October 1st. They set a “market outperform” rating and a $15.00 price target for the company. JPMorgan Chase & Co. increased their price target on Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Finally, BMO Capital Markets began coverage on Hagerty in a report on Monday, September 22nd. They set a “market perform” rating and a $13.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.13.

Institutional Trading of Hagerty

A number of large investors have recently added to or reduced their stakes in HGTY. IFP Advisors Inc acquired a new stake in shares of Hagerty during the 2nd quarter valued at $30,000. Osaic Holdings Inc. lifted its holdings in shares of Hagerty by 2,374.5% during the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock valued at $50,000 after purchasing an additional 4,749 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Hagerty by 165.3% during the third quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock valued at $62,000 after purchasing an additional 3,197 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Hagerty by 46.6% in the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock valued at $87,000 after purchasing an additional 2,726 shares during the period. Finally, KLP Kapitalforvaltning AS increased its stake in Hagerty by 228.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock worth $106,000 after purchasing an additional 7,300 shares in the last quarter. 20.51% of the stock is currently owned by institutional investors.

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.