Hagerty, Inc. (NYSE:HGTY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Hagerty, Inc. (NYSE:HGTY) have been given an average recommendation of “Moderate Buy” by the nine research firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $14.00.

Several brokerages have recently commented on HGTY. Citizens Jmp assumed coverage on shares of Hagerty in a research note on Wednesday, October 1st. They issued a “mkt outperform” rating and a $15.00 target price on the stock. Citigroup initiated coverage on shares of Hagerty in a report on Wednesday, October 1st. They set an “outperform” rating for the company. Oppenheimer started coverage on shares of Hagerty in a research note on Wednesday, September 17th. They set an “outperform” rating and a $15.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Hagerty from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Finally, Wall Street Zen upgraded shares of Hagerty from a “hold” rating to a “buy” rating in a research note on Sunday, November 30th.

Hagerty Trading Down 2.0%

Shares of HGTY opened at $13.33 on Wednesday. Hagerty has a 1 year low of $8.03 and a 1 year high of $14.00. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $12.69 and a 200-day simple moving average of $11.63. The stock has a market cap of $4.56 billion, a PE ratio of 47.60 and a beta of 0.89.

Hagerty (NYSE:HGTY) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.09 by $0.04. Hagerty had a return on equity of 16.85% and a net margin of 5.85%.The business had revenue of $359.01 million for the quarter, compared to analyst estimates of $354.36 million. On average, sell-side analysts predict that Hagerty will post 0.22 EPS for the current fiscal year.

Insider Transactions at Hagerty

In other Hagerty news, Director Robert I. Kauffman sold 55,524 shares of the business’s stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $12.16, for a total value of $675,171.84. Following the transaction, the director owned 1,023,525 shares of the company’s stock, valued at approximately $12,446,064. The trade was a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 234,780 shares of company stock valued at $2,745,340. Insiders own 16.70% of the company’s stock.

Institutional Trading of Hagerty

Hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc acquired a new position in Hagerty during the 2nd quarter worth about $30,000. Osaic Holdings Inc. raised its stake in shares of Hagerty by 2,374.5% in 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 during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Hagerty by 165.3% during the third 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 in the last quarter. Bank of America Corp DE lifted its position 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 in the last quarter. Finally, KLP Kapitalforvaltning AS grew its stake in shares of Hagerty by 228.1% during the second quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock valued at $106,000 after purchasing an additional 7,300 shares during the last quarter. 20.51% of the stock is currently 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.