Hagerty (NYSE:HGTY) CAO Kevin Delaney Sells 3,113 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) CAO Kevin Delaney sold 3,113 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $12.25, for a total value of $38,134.25. Following the transaction, the chief accounting officer directly owned 83,972 shares of the company’s stock, valued at $1,028,657. This represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hagerty Stock Down 0.4%

Shares of Hagerty stock opened at $12.35 on Tuesday. The business’s 50 day simple moving average is $10.77 and its 200 day simple moving average is $11.42. Hagerty, Inc. has a 52-week low of $8.81 and a 52-week high of $14.00. The firm has a market cap of $4.24 billion, a PE ratio of 61.66 and a beta of 0.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.65 and a current ratio of 1.65.

Hagerty (NYSE:HGTY) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). The firm had revenue of $311.83 million for the quarter, compared to analyst estimates 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, Inc. will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hagerty

A number of institutional investors have recently modified their holdings of HGTY. Bank of New York Mellon Corp raised its stake in Hagerty by 3.1% during the first quarter. Bank of New York Mellon Corp now owns 39,730 shares of the company’s stock worth $418,000 after buying an additional 1,209 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Hagerty by 107.4% in the first quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock valued at $32,000 after purchasing an additional 1,591 shares in the last quarter. Swiss National Bank raised its stake in Hagerty by 3.4% during the 4th quarter. Swiss National Bank now owns 79,260 shares of the company’s stock worth $1,065,000 after buying an additional 2,600 shares during the period. Bank of America Corp DE grew its stake in 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 acquiring an additional 2,726 shares during the period. Finally, Trexquant Investment LP increased its holdings in shares of Hagerty by 2.6% during the fourth quarter. Trexquant Investment LP now owns 115,277 shares of the company’s stock valued at $1,549,000 after acquiring an additional 2,872 shares in the last quarter. 20.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company dropped their price objective on Hagerty from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. Wall Street Zen upgraded Hagerty from a “sell” rating to a “hold” rating in a research note on Saturday. UBS Group set a $14.00 price target on shares of Hagerty in a research report on Wednesday, June 10th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Hagerty in a report on Wednesday, June 10th. Finally, Weiss Ratings upgraded Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company 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.