Hagerty, Inc. $HGTY Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lowered its position in Hagerty, Inc. (NYSE:HGTY) by 22.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 196,920 shares of the company’s stock after selling 55,615 shares during the quarter. Confluence Investment Management LLC’s holdings in Hagerty were worth $2,647,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its position in Hagerty by 2,374.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock worth $50,000 after purchasing an additional 4,749 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Hagerty by 165.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock valued at $62,000 after buying an additional 3,197 shares during the period. Bank of America Corp DE boosted its stake in shares of Hagerty by 46.6% in the second quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock valued at $87,000 after buying an additional 2,726 shares in the last quarter. Arizona State Retirement System acquired a new position in Hagerty during the third quarter worth $141,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Hagerty during the third quarter worth $155,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Hagerty Stock Performance

Shares of HGTY stock opened at $10.45 on Friday. The stock has a fifty day moving average price of $11.70 and a 200 day moving average price of $12.21. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market cap of $3.57 billion, a PE ratio of 31.66 and a beta of 0.90. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $14.00.

Hagerty (NYSE:HGTY) last posted its earnings results on Thursday, February 26th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.04. Hagerty had a return on equity of 16.24% and a net margin of 5.98%.The company had revenue of $388.10 million for the quarter, compared to analyst estimates of $323.93 million. Sell-side analysts forecast that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Transactions at Hagerty

In other Hagerty news, Director Anthony J. Kuczinski bought 4,000 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was purchased at an average cost of $9.50 per share, for a total transaction of $38,000.00. Following the acquisition, the director owned 47,277 shares of the company’s stock, valued at $449,131.50. The trade was a 9.24% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $620,500.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 351,350 shares of company stock worth $4,474,572. 16.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on HGTY. Weiss Ratings restated a “hold (c+)” rating on shares of Hagerty in a research report on Monday, December 29th. JPMorgan Chase & Co. increased their price target on shares of Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Finally, Wall Street Zen cut shares of Hagerty from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

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.