Hagerty (NYSE:HGTY) Trading Up 4.9% – What’s Next?

Shares of Hagerty, Inc. (NYSE:HGTY) shot up 4.9% during trading on Friday . The stock traded as high as $10.33 and last traded at $10.2650. 70,658 shares changed hands during trading, a decline of 48% from the average session volume of 135,832 shares. The stock had previously closed at $9.79.

Analysts Set New Price Targets

Several research analysts recently issued reports on HGTY shares. Wall Street Zen downgraded shares of Hagerty from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. JPMorgan Chase & Co. boosted their target price on shares of Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Hagerty in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.00.

Hagerty Stock Up 5.2%

The firm has a 50 day moving average price of $12.01 and a 200-day moving average price of $12.24. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 31.21 and a beta of 0.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.63 and a quick ratio of 1.63.

Hagerty (NYSE:HGTY) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.04. Hagerty had a return on equity of 16.24% and a net margin of 5.98%.The firm had revenue of $388.10 million during the quarter, compared to analysts’ expectations of $323.93 million. As a group, equities analysts predict that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling at Hagerty

In related news, insider Kenneth Ahn sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $12.41, for a total transaction of $620,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 351,350 shares of company stock worth $4,474,572 over the last ninety days. Insiders own 16.70% of the company’s stock.

Institutional Trading of Hagerty

A number of institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. raised its position in shares of Hagerty by 2,374.5% during the 2nd 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. BNP Paribas Financial Markets boosted its position in shares of Hagerty by 165.3% in the 3rd 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 during the last quarter. Bank of America Corp DE grew its stake in shares of Hagerty by 46.6% during 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 period. Los Angeles Capital Management LLC bought a new stake in Hagerty in the fourth quarter valued at about $98,000. Finally, Arizona State Retirement System bought a new stake in Hagerty in the third quarter valued at about $141,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

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.