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

Hagerty, Inc. (NYSE:HGTY) insider Kenneth Ahn sold 50,000 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $12.41, for a total value of $620,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, January 20th, Kenneth Ahn sold 50,000 shares of Hagerty stock. The shares were sold at an average price of $12.55, for a total transaction of $627,500.00.
• 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 transaction of $643,000.00.
• 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 transaction of $139,846.55.

Hagerty Price Performance

Shares of NYSE:HGTY opened at $12.12 on Wednesday. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 43.29 and a beta of 0.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 1.00. Hagerty, Inc. has a 12 month low of $8.03 and a 12 month high of $14.00. The stock’s 50 day moving average price is $13.01 and its 200 day moving average price is $12.03.

Hagerty (NYSE:HGTY) last issued its quarterly earnings results 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. The company had revenue of $359.01 million for the quarter, compared to analysts’ expectations of $354.36 million. Hagerty had a return on equity of 16.85% and a net margin of 5.85%. Equities research analysts anticipate that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc purchased a new stake in Hagerty in the 2nd quarter worth about $30,000. Osaic Holdings Inc. lifted its position 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 purchasing an additional 4,749 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings 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 during the period. Bank of America Corp DE grew its position in Hagerty by 46.6% during the second quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock valued at $87,000 after purchasing an additional 2,726 shares in the last quarter. Finally, KLP Kapitalforvaltning AS increased its stake in Hagerty by 228.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock valued at $106,000 after buying an additional 7,300 shares during the period. Hedge funds and other institutional investors own 20.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. Citizens Jmp assumed coverage on Hagerty in a research report on Wednesday, October 1st. They set a “mkt outperform” rating and a $15.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on Hagerty from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 12th. JPMorgan Chase & Co. boosted their target price on Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Finally, Citigroup initiated coverage on Hagerty in a research report on Wednesday, October 1st. They issued an “outperform” rating for the company. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.