Garner Asset Management Corp Takes $3.39 Million Position in Hagerty, Inc. $HGTY

Garner Asset Management Corp bought a new position in Hagerty, Inc. (NYSE:HGTY) in the third quarter, Holdings Channel reports. The institutional investor bought 281,825 shares of the company’s stock, valued at approximately $3,393,000. Hagerty makes up about 1.4% of Garner Asset Management Corp’s holdings, making the stock its 21st biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Osaic Holdings Inc. grew its position in Hagerty by 2,374.5% during the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock valued at $50,000 after acquiring an additional 4,749 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Hagerty by 46.6% in 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 in the last quarter. Arizona State Retirement System bought a new position in shares of Hagerty during the 3rd quarter valued at $141,000. Marshall Wace LLP raised its position in Hagerty by 37.2% in the 2nd quarter. Marshall Wace LLP now owns 22,405 shares of the company’s stock worth $227,000 after purchasing an additional 6,072 shares during the period. Finally, Corton Capital Inc. purchased a new position in Hagerty in the 2nd quarter worth $273,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Insider Transactions at Hagerty

In other Hagerty news, insider Kenneth Ahn sold 164,870 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $12.79, for a total value of $2,108,687.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 351,350 shares of company stock worth $4,474,572. 16.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HGTY has been the subject of a number of recent research reports. Wall Street Zen lowered Hagerty from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Keefe, Bruyette & Woods boosted their price objective on Hagerty from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. JPMorgan Chase & Co. increased their price objective on Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hagerty in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Hagerty Price Performance

HGTY opened at $11.75 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $4.02 billion, a PE ratio of 41.95 and a beta of 0.89. The stock’s 50 day moving average price is $12.72 and its 200-day moving average price is $12.25. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week high of $14.00.

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.