Kevin Delaney Sells 905 Shares of Hagerty (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) CAO Kevin Delaney sold 905 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $12.01, for a total value of $10,869.05. Following the sale, the chief accounting officer directly owned 99,050 shares of the company’s stock, valued at approximately $1,189,590.50. This represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hagerty Trading Down 0.4%

NYSE HGTY opened at $12.34 on Friday. The business’s fifty day moving average is $10.74 and its 200-day moving average is $11.43. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.65 and a quick ratio of 1.65. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 61.68 and a beta of 0.79. Hagerty, Inc. has a one year low of $8.81 and a one year high of $14.00.

Hagerty (NYSE:HGTY) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share 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. Equities research analysts predict that Hagerty, Inc. will post -0.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HGTY shares. Wells Fargo & Company reduced their target price on shares of Hagerty from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. UBS Group set a $14.00 price target on shares of Hagerty in a report on Wednesday, June 10th. Truist Financial dropped 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. Wall Street Zen upgraded Hagerty from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Hagerty in a report on Wednesday, June 10th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Hagerty has a consensus rating of “Hold” and a consensus price target of $13.44.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings in Hagerty by 107.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock valued at $32,000 after acquiring an additional 1,591 shares during the period. Osaic Holdings Inc. lifted its position in shares of Hagerty by 2,374.5% during the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock worth $50,000 after acquiring an additional 4,749 shares in the last quarter. BNP Paribas Financial Markets boosted 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 worth $62,000 after acquiring an additional 3,197 shares during the period. Bank of America Corp DE boosted its holdings 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 acquiring an additional 2,726 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of Hagerty in the fourth quarter worth $98,000. 20.51% of the stock is owned by institutional investors.

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.