Kenneth Ahn Sells 50,000 Shares of Hagerty (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) insider Kenneth Ahn sold 50,000 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $12.55, for a total value of $627,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Kenneth Ahn also recently made the following trade(s):

• On Monday, January 12th, Kenneth Ahn sold 50,000 shares of Hagerty stock. The shares were sold at an average price of $12.86, for a total value of $643,000.00.
• On Friday, January 9th, Kenneth Ahn sold 1,350 shares of Hagerty stock. The stock was sold at an average price of $13.25, for a total value of $17,887.50.
• On Monday, January 5th, Kenneth Ahn sold 164,870 shares of Hagerty stock. The shares were sold at an average price of $12.79, for a total transaction of $2,108,687.30.
• On Wednesday, January 7th, Kenneth Ahn sold 24,247 shares of Hagerty stock. The stock was sold at an average price of $13.08, for a total transaction of $317,150.76.
• On Tuesday, January 6th, Kenneth Ahn sold 10,883 shares of Hagerty stock. The stock was sold at an average price of $12.85, for a total transaction of $139,846.55.

Hagerty Trading Up 0.7%

Shares of HGTY traded up $0.09 during trading hours on Thursday, reaching $12.85. 68,369 shares of the company traded hands, compared to its average volume of 108,491. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $14.00. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 45.88 and a beta of 0.89. The company’s fifty day moving average price is $13.09 and its two-hundred day moving average price is $11.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.17.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. Hagerty had a return on equity of 16.85% and a net margin of 5.85%.The business had revenue of $359.01 million for the quarter, compared to analysts’ expectations of $354.36 million. Equities research analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hagerty

Several hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc bought a new stake in Hagerty during the second quarter valued at about $30,000. Osaic Holdings Inc. boosted its position in shares of Hagerty by 2,374.5% in the second 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 increased its stake in shares of Hagerty by 165.3% in the third 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 in the last quarter. Bank of America Corp DE raised its position 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 valued at $87,000 after purchasing an additional 2,726 shares during the period. Finally, KLP Kapitalforvaltning AS lifted its stake in shares of Hagerty by 228.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock valued at $106,000 after buying an additional 7,300 shares in the last quarter. 20.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Hagerty from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. JMP Securities started coverage on Hagerty in a research report on Wednesday, October 1st. They issued a “market outperform” rating and a $15.00 target price for the company. Wells Fargo & Company initiated coverage on shares of Hagerty in a report on Friday, October 3rd. They set an “equal weight” rating and a $13.00 price target on the stock. Finally, Citizens Jmp initiated coverage on shares of Hagerty in a research note on Wednesday, October 1st. They issued a “mkt outperform” rating and a $15.00 price target for the company. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Hagerty currently has a consensus rating of “Moderate Buy” and an average target price of $14.13.

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.