57,965 Shares in Hagerty, Inc. $HGTY Purchased by Bristlecone Value Partners LLC

Bristlecone Value Partners LLC purchased a new position in shares of Hagerty, Inc. (NYSE:HGTY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 57,965 shares of the company’s stock, valued at approximately $779,000. Hagerty accounts for approximately 0.9% of Bristlecone Value Partners LLC’s investment portfolio, making the stock its 24th largest holding.

A number of other large investors have also recently made changes to their positions in HGTY. Osaic Holdings Inc. boosted its stake in shares of 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 boosted its stake in shares of Hagerty by 165.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock worth $62,000 after purchasing an additional 3,197 shares during the period. Bank of America Corp DE boosted its stake in shares of Hagerty by 46.6% during the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock worth $87,000 after purchasing an additional 2,726 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Hagerty during the 4th quarter worth about $98,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Hagerty during the 3rd quarter worth about $155,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hagerty

In other news, Director Laurie Harris sold 5,531 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.

Hagerty Price Performance

Hagerty stock opened at $10.88 on Friday. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 54.42 and a beta of 0.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.65 and a quick ratio of 1.65. Hagerty, Inc. has a 1 year low of $8.81 and a 1 year high of $14.00. The firm has a 50-day moving average of $10.59 and a two-hundred day moving average of $11.60.

Hagerty (NYSE:HGTY) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.05). Hagerty had a net margin of 5.11% and a return on equity of 11.94%. The business had revenue of $311.83 million during the quarter, compared to the consensus estimate of $284.88 million. On average, research analysts forecast that Hagerty, Inc. will post -0.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on HGTY. UBS Group set a $14.00 price target on shares of Hagerty in a research note on Wednesday. Wall Street Zen cut shares of Hagerty from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings cut shares of Hagerty from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Hagerty in a research report on Wednesday. Finally, Wells Fargo & Company lowered their price objective on shares of Hagerty from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.44.

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.