Hagerty, Inc. (NYSE:HGTY) Receives Consensus Rating of “Hold” from Brokerages

Shares of Hagerty, Inc. (NYSE:HGTY) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $13.3750.

Several brokerages recently commented on HGTY. Truist Financial cut their price target on shares of Hagerty from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, May 11th. Weiss Ratings downgraded shares of Hagerty from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 20th. Wall Street Zen downgraded shares of Hagerty from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Wells Fargo & Company cut their price target on shares of Hagerty from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th.

Hagerty Stock Up 0.5%

NYSE HGTY opened at $10.23 on Friday. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.35. The company has a fifty day moving average of $10.60 and a two-hundred day moving average of $11.80. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 51.13 and a beta of 0.83. Hagerty has a 52 week low of $8.81 and a 52 week high of $14.00.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.05). The firm had revenue of $311.83 million for the quarter, compared to analysts’ expectations of $284.88 million. Hagerty had a return on equity of 11.94% and a net margin of 5.11%. On average, analysts predict that Hagerty will post 0.09 earnings per share for the current year.

Insider Activity at Hagerty

In other Hagerty news, Director Anthony J. Kuczinski purchased 4,000 shares of Hagerty stock in a transaction dated Thursday, March 12th. The shares were purchased at an average cost of $9.50 per share, for a total transaction of $38,000.00. Following the completion of the acquisition, the director owned 47,277 shares in the company, valued at $449,131.50. This represents a 9.24% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Laurie Harris sold 5,531 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $11.01, for a total value of $60,896.31. Following the completion of the sale, the director owned 36,689 shares in the company, valued at approximately $403,945.89. The trade was a 13.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 16.70% of the company’s stock.

Institutional Trading of Hagerty

Several institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in shares of Hagerty by 107.4% during the first quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock worth $32,000 after purchasing an additional 1,591 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Hagerty in the 1st quarter valued at about $115,000. Renaissance Technologies LLC boosted its position in Hagerty by 79.2% in the 1st quarter. Renaissance Technologies LLC now owns 157,668 shares of the company’s stock valued at $1,660,000 after buying an additional 69,700 shares during the period. Dimensional Fund Advisors LP boosted its position in Hagerty by 49.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 271,346 shares of the company’s stock valued at $2,857,000 after buying an additional 89,898 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Hagerty by 3.1% in the 1st quarter. Bank of New York Mellon Corp now owns 39,730 shares of the company’s stock valued at $418,000 after buying an additional 1,209 shares during the period. 20.51% of the stock is currently owned by institutional investors.

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.