Insider Selling: Hagerty (NYSE:HGTY) Insider Sells $620,500.00 in Stock

Hagerty, Inc. (NYSE:HGTY) insider Kenneth Ahn sold 50,000 shares of Hagerty stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $12.41, for a total value of $620,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, January 20th, Kenneth Ahn sold 50,000 shares of Hagerty stock. The stock was sold at an average price of $12.55, for a total transaction of $627,500.00.
• On Monday, January 12th, Kenneth Ahn sold 50,000 shares of Hagerty stock. The shares were sold at an average price of $12.86, for a total transaction of $643,000.00.
• On Friday, January 9th, Kenneth Ahn sold 1,350 shares of Hagerty stock. The shares were sold at an average price of $13.25, for a total transaction of $17,887.50.
• On Monday, January 5th, Kenneth Ahn sold 164,870 shares of Hagerty stock. The stock was sold at an average price of $12.79, for a total transaction 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 transaction 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 transaction of $139,846.55.

Hagerty Stock Performance

Shares of Hagerty stock opened at $12.61 on Friday. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $14.00. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.17. The stock has a market cap of $4.31 billion, a PE ratio of 45.02 and a beta of 0.89. The business has a fifty day simple moving average of $12.98 and a 200-day simple moving average of $12.04.

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

Analyst Ratings Changes

HGTY has been the subject of several research reports. JPMorgan Chase & Co. raised their price target on shares of Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Wells Fargo & Company assumed coverage on shares of Hagerty in a research note on Friday, October 3rd. They set an “equal weight” rating and a $13.00 target price for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. Wall Street Zen upgraded Hagerty from a “hold” rating to a “buy” rating in a report on Sunday, November 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on Hagerty from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HGTY. Yorktown Management & Research Co Inc bought a new stake in Hagerty in the fourth quarter worth $270,000. Lincoln Capital LLC increased its holdings in shares of Hagerty by 3.2% during the 4th quarter. Lincoln Capital LLC now owns 812,858 shares of the company’s stock valued at $10,925,000 after acquiring an additional 25,471 shares during the last quarter. Greenhaven Road Investment Management L.P. raised its stake in shares of Hagerty by 47.1% in the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock valued at $32,084,000 after acquiring an additional 853,245 shares in the last quarter. Woodline Partners LP acquired a new stake in Hagerty in the 3rd quarter worth approximately $3,339,000. Finally, Polar Capital Holdings Plc boosted its position in Hagerty by 9.4% during the third quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock worth $70,042,000 after purchasing an additional 498,389 shares during the period. Institutional investors 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.