Hagerty (HGTY) Scheduled to Post Earnings on Wednesday

Hagerty (NYSE:HGTY) is scheduled to be releasing its earnings data before the market opens on Wednesday, November 8th. Analysts expect Hagerty to post earnings of $0.03 per share for the quarter. Hagerty has set its FY 2023 guidance at EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Hagerty (NYSE:HGTY) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. Hagerty had a net margin of 1.17% and a negative return on equity of 7.80%. The firm had revenue of $261.24 million for the quarter, compared to analyst estimates of $259.56 million. On average, analysts expect Hagerty to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Hagerty Stock Performance

Shares of HGTY stock opened at $7.68 on Wednesday. The firm has a market cap of $2.58 billion, a P/E ratio of 768.00 and a beta of 0.75. Hagerty has a one year low of $7.52 and a one year high of $10.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.39 and a current ratio of 1.39. The firm’s 50 day moving average price is $8.30 and its 200-day moving average price is $8.86.

Institutional Investors Weigh In On Hagerty

Several hedge funds and other institutional investors have recently made changes to their positions in HGTY. Vanguard Group Inc. grew its holdings in Hagerty by 46.2% during the third quarter. Vanguard Group Inc. now owns 1,987,616 shares of the company’s stock worth $17,869,000 after acquiring an additional 628,530 shares during the period. BlackRock Inc. acquired a new position in Hagerty during the first quarter worth $3,594,000. Wasatch Advisors Inc. grew its holdings in Hagerty by 3.3% during the first quarter. Wasatch Advisors Inc. now owns 7,025,761 shares of the company’s stock worth $75,808,000 after acquiring an additional 224,842 shares during the period. Charles Schwab Investment Management Inc. acquired a new position in Hagerty during the first quarter worth $1,482,000. Finally, Royal Bank of Canada grew its holdings in Hagerty by 1,396.1% during the third quarter. Royal Bank of Canada now owns 107,498 shares of the company’s stock worth $966,000 after acquiring an additional 100,313 shares during the period. Institutional investors and hedge funds own 20.79% of the company’s stock.

About Hagerty

Hagerty, Inc provides insurance agency services worldwide. It offers motor vehicle and boat insurance products; and reinsurance products. The company also provides Hagerty Media, which publishes contents through the Hagerty Drivers Club Magazine (HDC), video content, and social media channels; HDC that offers subscription based products and services, including HDC Magazine, automotive enthusiast events, proprietary vehicle valuation tools, emergency roadside services, and special vehicle-related discounts; HVT, a valuation tool used by the customer to access current and historic pricing data of collector vehicle models; and Hagerty Events, an eclectic mix of small and large events.