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

Hagerty, Inc. (NYSE:HGTY) insider Kenneth Ahn sold 50,000 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $12.55, for a total value of $627,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, January 12th, Kenneth Ahn sold 50,000 shares of Hagerty stock. The stock was sold at an average price of $12.86, for a total value of $643,000.00.
• On Friday, January 9th, Kenneth Ahn sold 1,350 shares of Hagerty stock. The stock was 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 shares were 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 transaction of $139,846.55.

Hagerty Stock Down 1.7%

HGTY stock opened at $12.60 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50 day simple moving average is $13.06 and its 200-day simple moving average is $11.97. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $14.00. The firm has a market capitalization of $4.31 billion, a PE ratio of 44.98 and a beta of 0.89.

Hagerty (NYSE:HGTY) last posted its earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The firm had revenue of $359.01 million for the quarter, compared to analyst estimates of $354.36 million. Hagerty had a return on equity of 16.85% and a net margin of 5.85%. Equities analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hagerty

Several institutional investors and hedge funds have recently bought and sold shares of HGTY. IFP Advisors Inc acquired a new position in Hagerty in the second quarter valued at $30,000. Osaic Holdings Inc. increased its holdings in Hagerty by 2,374.5% in the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock valued at $50,000 after buying an additional 4,749 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Hagerty by 165.3% during the third quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock valued at $62,000 after buying an additional 3,197 shares in the last quarter. Bank of America Corp DE lifted its holdings in Hagerty by 46.6% during the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock worth $87,000 after buying an additional 2,726 shares during the last quarter. Finally, KLP Kapitalforvaltning AS grew its position in shares of Hagerty by 228.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock worth $106,000 after acquiring an additional 7,300 shares in the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HGTY shares. Citigroup started coverage on shares of Hagerty in a research note on Wednesday, October 1st. They issued an “outperform” rating for the company. JPMorgan Chase & Co. boosted their price objective on shares of Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Citizens Jmp began coverage on shares of Hagerty in a research note on Wednesday, October 1st. They set a “mkt outperform” rating and a $15.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hagerty in a research note on Monday, December 29th. Finally, Wells Fargo & Company initiated coverage on Hagerty in a report on Friday, October 3rd. They issued an “equal weight” rating and a $13.00 price target for the company. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.