Hagerty (NYSE:HGTY) Director Purchases $38,000.00 in Stock

Hagerty, Inc. (NYSE:HGTY) Director Anthony Kuczinski acquired 4,000 shares of Hagerty stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average price of $9.50 per share, with a total value of $38,000.00. Following the purchase, the director owned 47,277 shares in the company, valued at $449,131.50. This represents a 9.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hagerty Stock Up 4.6%

HGTY traded up $0.45 during trading on Friday, hitting $10.24. The stock had a trading volume of 171,550 shares, compared to its average volume of 159,794. The stock has a 50 day simple moving average of $11.96 and a two-hundred day simple moving average of $12.24. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.63 and a current ratio of 1.63. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $14.00. The company has a market capitalization of $3.50 billion, a PE ratio of 31.03 and a beta of 0.90.

Hagerty (NYSE:HGTY) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. Hagerty had a return on equity of 16.24% and a net margin of 5.98%.The business had revenue of $388.10 million for the quarter, compared to the consensus estimate of $323.93 million. On average, research analysts predict that Hagerty, Inc. will post 0.22 earnings per share for the current year.

Analyst Ratings Changes

HGTY has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Hagerty in a research note on Monday, December 29th. JPMorgan Chase & Co. upped their price objective on shares of Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Finally, Wall Street Zen lowered shares of Hagerty from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Hedge Funds Weigh In On Hagerty

Hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. lifted its position in Hagerty by 2,374.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock worth $50,000 after acquiring an additional 4,749 shares during the period. BNP Paribas Financial Markets increased its holdings 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 valued at $62,000 after purchasing an additional 3,197 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Hagerty in the fourth quarter worth about $98,000. Bank of America Corp DE raised its stake in shares of Hagerty by 46.6% in the second quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock worth $87,000 after purchasing an additional 2,726 shares during the last quarter. Finally, Arizona State Retirement System acquired a new stake in shares of Hagerty during the third quarter worth about $141,000. 20.51% of the stock is owned by institutional investors and hedge funds.

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.