Hagerty (NYSE:HGTY) Coverage Initiated by Analysts at Citizens Jmp

Citizens Jmp assumed coverage on shares of Hagerty (NYSE:HGTY) in a report issued on Wednesday morning, Marketbeat reports. The brokerage issued a mkt outperform rating and a $15.00 price target on the stock.

Several other brokerages have also commented on HGTY. BMO Capital Markets started coverage on Hagerty in a research report on Monday, September 22nd. They set a “market perform” rating and a $13.00 target price on the stock. JMP Securities started coverage on shares of Hagerty in a research note on Wednesday. They issued a “market outperform” rating and a $15.00 price target for the company. Keefe, Bruyette & Woods began coverage on shares of Hagerty in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $14.00 price target for the company. Oppenheimer began coverage on Hagerty in a report on Wednesday, September 17th. They issued an “outperform” rating and a $15.00 price target on the stock. Finally, Evercore ISI began coverage on Hagerty in a report on Wednesday, August 27th. They issued an “outperform” rating and a $14.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.71.

Hagerty Stock Down 0.8%

Shares of Hagerty stock opened at $11.95 on Wednesday. Hagerty has a one year low of $8.03 and a one year high of $13.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.06 and a quick ratio of 1.06. The stock’s 50-day moving average is $11.42 and its 200 day moving average is $10.11. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 59.73 and a beta of 0.92.

Hagerty (NYSE:HGTY) last announced its earnings results on Monday, August 4th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. Hagerty had a return on equity of 13.76% and a net margin of 4.88%.The company had revenue of $368.70 million for the quarter, compared to analyst estimates of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Hagerty will post 0.22 EPS for the current year.

Insider Activity at Hagerty

In related news, Director Robert I. Kauffman sold 18,372 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $12.06, for a total transaction of $221,566.32. Following the completion of the sale, the director directly owned 1,132,877 shares of the company’s stock, valued at approximately $13,662,496.62. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 11,934,210 shares of company stock worth $107,835,862 over the last three months. Company insiders own 16.70% of the company’s stock.

Institutional Trading of Hagerty

A number of institutional investors and hedge funds have recently modified their holdings of HGTY. Neuberger Berman Group LLC increased its position in shares of Hagerty by 15.7% during the first quarter. Neuberger Berman Group LLC now owns 5,468,793 shares of the company’s stock valued at $49,438,000 after acquiring an additional 743,597 shares during the last quarter. Greenhaven Road Investment Management L.P. increased its position in shares of Hagerty by 33.2% during the second quarter. Greenhaven Road Investment Management L.P. now owns 1,811,539 shares of the company’s stock valued at $18,315,000 after acquiring an additional 451,033 shares during the last quarter. Garner Asset Management Corp purchased a new stake in shares of Hagerty during the first quarter valued at approximately $2,909,000. Scholtz & Company LLC purchased a new stake in shares of Hagerty during the second quarter valued at approximately $2,429,000. Finally, Lincoln Capital LLC increased its position in Hagerty by 12.3% in the first quarter. Lincoln Capital LLC now owns 555,286 shares of the company’s stock worth $4,753,000 after buying an additional 60,791 shares during the last quarter. 20.51% of the stock is owned by hedge funds and other institutional investors.

About Hagerty

Hagerty, Inc provides insurance agency services worldwide. It offers motor vehicle and boat insurance products; and reinsurance products. The company 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.