Hagerty, Inc. (NYSE:HGTY) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Hagerty, Inc. (NYSE:HGTY) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $14.00.

A number of research firms have weighed in on HGTY. Weiss Ratings reissued a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. JPMorgan Chase & Co. increased their target price 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. Wall Street Zen cut shares of Hagerty from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Hagerty from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, November 12th.

Hagerty Trading Down 1.5%

Shares of NYSE HGTY opened at $11.96 on Thursday. 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 market capitalization of $4.09 billion, a PE ratio of 42.70 and a beta of 0.89. Hagerty has a twelve month low of $8.03 and a twelve month high of $14.00. The stock has a fifty day simple moving average of $12.77 and a 200-day simple moving average of $12.25.

Insider Activity

In related news, insider Kenneth Ahn sold 164,870 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $12.79, for a total value of $2,108,687.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 351,350 shares of company stock worth $4,474,572 in the last 90 days. Company insiders own 16.70% of the company’s stock.

Hedge Funds Weigh In On Hagerty

Institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC boosted its stake in shares of Hagerty by 2.8% during the 4th quarter. Neuberger Berman Group LLC now owns 8,269,620 shares of the company’s stock worth $111,144,000 after acquiring an additional 221,834 shares in the last quarter. Polar Capital Holdings Plc raised its stake in shares of Hagerty by 9.4% during the 3rd quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company’s stock worth $70,042,000 after buying an additional 498,389 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Hagerty by 32.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock worth $41,612,000 after buying an additional 843,433 shares in the last quarter. Greenhaven Road Investment Management L.P. boosted its position in shares of Hagerty by 47.1% in the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock worth $32,084,000 after buying an additional 853,245 shares in the last quarter. Finally, Pembroke Management LTD grew its stake in Hagerty by 127.6% in the 3rd quarter. Pembroke Management LTD now owns 2,261,203 shares of the company’s stock valued at $27,225,000 after acquiring an additional 1,267,754 shares during the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

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.