Hagerty, Inc. (NYSE:HGTY) Given Average Rating of “Hold” by Analysts

Hagerty, Inc. (NYSE:HGTY) has earned a consensus rating of “Hold” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $13.4444.

HGTY has been the subject of several analyst reports. UBS Group set a $14.00 price objective on Hagerty in a report on Wednesday, June 10th. Truist Financial decreased their price objective on Hagerty from $13.00 to $11.00 and set a “hold” rating for the company in a report on Monday, May 11th. Wells Fargo & Company decreased their price objective on Hagerty from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Wall Street Zen cut Hagerty from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Hagerty in a report on Wednesday, June 10th.

Insiders Place Their Bets

In related news, Director Laurie Harris sold 5,531 shares of the company’s stock in a transaction dated 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 transaction, the director owned 36,689 shares of the company’s stock, valued at approximately $403,945.89. This represents 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. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Hagerty

A number of large investors have recently bought and sold shares of the business. Neuberger Berman Group LLC raised its holdings in Hagerty by 2.8% in the 4th quarter. Neuberger Berman Group LLC now owns 8,269,620 shares of the company’s stock worth $111,144,000 after purchasing an additional 221,834 shares during the period. Polar Capital Holdings Plc raised its holdings in Hagerty by 9.4% in the 3rd quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock worth $70,042,000 after purchasing an additional 498,389 shares during the period. Vanguard Group Inc. raised its holdings in Hagerty by 32.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock worth $41,612,000 after purchasing an additional 843,433 shares during the period. Greenhaven Road Investment Management L.P. raised its holdings in Hagerty by 47.1% in the 3rd 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 during the period. Finally, Lincoln Capital LLC raised its holdings in Hagerty by 17.0% in the 1st quarter. Lincoln Capital LLC now owns 950,652 shares of the company’s stock worth $10,008,000 after purchasing an additional 137,794 shares during the period. Institutional investors and hedge funds own 20.51% of the company’s stock.

Hagerty Stock Up 3.6%

Hagerty stock opened at $11.23 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.65 and a current ratio of 1.65. The business’s 50-day simple moving average is $10.57 and its two-hundred day simple moving average is $11.47. The company has a market cap of $3.86 billion, a PE ratio of 56.15 and a beta of 0.82. Hagerty has a fifty-two week low of $8.81 and a fifty-two week high of $14.00.

Hagerty (NYSE:HGTY) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share 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 net margin of 5.11% and a return on equity of 11.94%. Equities analysts anticipate that Hagerty will post -0.1 EPS for the current year.

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.