Kenneth Ahn Sells 50,000 Shares of Hagerty (NYSE:HGTY) Stock

Hagerty, Inc. (NYSE:HGTY) insider Kenneth Ahn sold 50,000 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $12.86, for a total transaction of $643,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Kenneth Ahn also recently made the following trade(s):

• On Friday, January 9th, Kenneth Ahn sold 1,350 shares of Hagerty stock. The shares were sold at an average price of $13.25, for a total transaction of $17,887.50.
• On Monday, January 5th, Kenneth Ahn sold 164,870 shares of Hagerty stock. The stock was sold at an average price of $12.79, for a total transaction of $2,108,687.30.
• On Wednesday, January 7th, Kenneth Ahn sold 24,247 shares of Hagerty stock. The stock was sold at an average price of $13.08, for a total transaction of $317,150.76.
• On Tuesday, January 6th, Kenneth Ahn sold 10,883 shares of Hagerty stock. The shares were sold at an average price of $12.85, for a total value of $139,846.55.

Hagerty Stock Down 0.4%

NYSE:HGTY opened at $12.64 on Thursday. Hagerty, Inc. has a 52 week low of $8.03 and a 52 week high of $14.00. The stock’s fifty day moving average is $13.10 and its two-hundred day moving average is $11.86. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 45.14 and a beta of 0.89. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.17.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 earnings per share (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 firm had revenue of $359.01 million for the quarter, compared to the consensus estimate of $354.36 million. Research analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current year.

Institutional Investors Weigh In On Hagerty

A number of hedge funds and other institutional investors have recently modified their holdings of the company. 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 in the last quarter. IFP Advisors Inc acquired a new stake in Hagerty in the second quarter valued at $30,000. BNP Paribas Financial Markets lifted its holdings in Hagerty by 165.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock worth $62,000 after buying an additional 3,197 shares during the last quarter. Osaic Holdings Inc. boosted 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 worth $50,000 after acquiring an additional 4,749 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Hagerty by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 254,634 shares of the company’s stock valued at $2,576,000 after acquiring an additional 5,077 shares during the last quarter. 20.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HGTY has been the subject of several recent research reports. JMP Securities initiated coverage on shares of Hagerty in a report on Wednesday, October 1st. They issued a “market outperform” rating and a $15.00 price objective for the company. Keefe, Bruyette & Woods raised their price target on shares of Hagerty from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hagerty in a research report on Monday, December 29th. JPMorgan Chase & Co. increased their price objective on Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Finally, Citigroup assumed coverage on Hagerty in a research note on Wednesday, October 1st. They set an “outperform” rating for the company. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Hagerty presently has an average rating of “Moderate Buy” and a consensus target price of $14.13.

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.