Insider Selling: Hagerty (NYSE:HGTY) CAO Sells 3,113 Shares of Stock

Hagerty, Inc. (NYSE:HGTY) CAO Kevin Delaney sold 3,113 shares of Hagerty stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $12.25, for a total transaction of $38,134.25. Following the transaction, 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 filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hagerty Price Performance

HGTY stock traded down $0.18 during trading on Monday, reaching $12.21. The company’s stock had a trading volume of 143,077 shares, compared to its average volume of 157,251. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.35. The company’s fifty day moving average is $10.74 and its 200-day moving average is $11.42. The company has a market capitalization of $4.19 billion, a P/E ratio of 61.05 and a beta of 0.79. Hagerty, Inc. has a 1 year low of $8.81 and a 1 year high of $14.00.

Hagerty (NYSE:HGTY) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.04) earnings per share (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 company had revenue of $311.83 million for the quarter, compared to the consensus estimate of $284.88 million. On average, research analysts expect 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 and hedge funds have recently added to or reduced their stakes in HGTY. EverSource Wealth Advisors LLC grew its stake in Hagerty by 107.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock worth $32,000 after acquiring an additional 1,591 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Hagerty during the first quarter valued at approximately $115,000. Renaissance Technologies LLC boosted its holdings in shares of Hagerty by 79.2% in the first quarter. Renaissance Technologies LLC now owns 157,668 shares of the company’s stock valued at $1,660,000 after purchasing an additional 69,700 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Hagerty by 49.5% in the first quarter. Dimensional Fund Advisors LP now owns 271,346 shares of the company’s stock valued at $2,857,000 after purchasing an additional 89,898 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Hagerty by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 39,730 shares of the company’s stock worth $418,000 after purchasing an additional 1,209 shares in the last quarter. Institutional investors own 20.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HGTY. Truist Financial reduced their price objective on Hagerty from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. UBS Group set a $14.00 target price on shares of Hagerty in a research note on Wednesday, June 10th. Wells Fargo & Company cut their price target on shares of Hagerty from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Hagerty in a research note on Wednesday, June 10th. Finally, Weiss Ratings upgraded Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $13.44.

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.