Hagerty (NYSE:HGTY) Price Target Raised to $15.00 at Keefe, Bruyette & Woods

Hagerty (NYSE:HGTY) had its target price increased by Keefe, Bruyette & Woods from $14.00 to $15.00 in a report published on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the company. Truist Financial reduced their target price on Hagerty from $13.00 to $11.00 and set a “hold” rating for the company in a report on Monday, May 11th. Weiss Ratings upgraded Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. Wall Street Zen raised shares of Hagerty from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. Wells Fargo & Company reduced 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 note on Thursday, April 9th. Finally, UBS Group set a $14.00 price objective on shares of Hagerty in a research note on Wednesday, June 10th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.44.

Hagerty Stock Performance

Shares of HGTY opened at $12.09 on Wednesday. The company has a 50-day moving average of $10.83 and a two-hundred day moving average of $11.41. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 60.43 and a beta of 0.79. 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 has a one year low of $8.81 and a one year high of $14.00.

Hagerty (NYSE:HGTY) last issued 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). Hagerty had a net margin of 5.11% and a return on equity of 11.94%. The business had revenue of $311.83 million for the quarter, compared to analysts’ expectations of $284.88 million. On average, equities research analysts expect that Hagerty will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Hagerty

In other Hagerty news, CAO Kevin M. Delaney sold 3,113 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $12.25, for a total value of $38,134.25. Following the completion of the sale, the chief accounting officer owned 83,972 shares in the company, valued at approximately $1,028,657. This trade represents a 3.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,458 shares of company stock valued at $163,227 in the last three months. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Hagerty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HGTY. Greenhaven Road Investment Management L.P. boosted its position in shares of Hagerty by 47.1% during the third quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock worth $32,084,000 after purchasing an additional 853,245 shares in the last quarter. Bristlecone Value Partners LLC bought a new stake in shares of Hagerty in the 4th quarter valued at $779,000. Goldman Sachs Group Inc. increased its position in shares of Hagerty by 203.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 56,035 shares of the company’s stock valued at $753,000 after buying an additional 37,555 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its stake in Hagerty by 107.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 26,718 shares of the company’s stock worth $359,000 after buying an additional 13,808 shares during the period. Finally, Millennium Management LLC acquired a new stake in Hagerty during the 4th quarter worth $353,000. 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.