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

Shares of Hagerty, Inc. (NYSE:HGTY) have been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $14.00.

Several research analysts have recently commented on HGTY shares. Wall Street Zen downgraded Hagerty from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th.

Hagerty Trading Up 4.6%

Shares of NYSE:HGTY opened at $10.24 on Monday. Hagerty has a 52-week low of $8.03 and a 52-week high of $14.00. The company has a market capitalization of $3.50 billion, a P/E ratio of 31.03 and a beta of 0.90. The company has a 50-day simple moving average of $11.96 and a 200 day simple moving average of $12.26. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.63 and a current ratio of 1.63.

Hagerty (NYSE:HGTY) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. The firm had revenue of $388.10 million for the quarter, compared to the consensus estimate of $323.93 million. Hagerty had a return on equity of 16.24% and a net margin of 5.98%. Sell-side analysts forecast that Hagerty will post 0.22 earnings per share for the current year.

Insider Activity

In related news, insider Kenneth Ahn sold 50,000 shares of Hagerty stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $12.41, for a total transaction of $620,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anthony J. Kuczinski purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was bought at an average price of $9.50 per share, for a total transaction of $38,000.00. Following the purchase, the director owned 47,277 shares in the company, valued at $449,131.50. The trade was a 9.24% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 351,350 shares of company stock valued at $4,474,572 in the last ninety days. 16.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hagerty

Large investors have recently made changes to their positions in the company. Swiss National Bank boosted its stake in Hagerty by 3.4% in the 4th quarter. Swiss National Bank now owns 79,260 shares of the company’s stock valued at $1,065,000 after purchasing an additional 2,600 shares during the period. Bank of America Corp DE boosted its position in shares of Hagerty by 46.6% in the second quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock valued at $87,000 after acquiring an additional 2,726 shares during the period. Trexquant Investment LP grew its stake in shares of Hagerty by 2.6% in the fourth quarter. Trexquant Investment LP now owns 115,277 shares of the company’s stock valued at $1,549,000 after acquiring an additional 2,872 shares in the last quarter. BNP Paribas Financial Markets increased its position in 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 acquiring an additional 3,197 shares during the period. Finally, LPL Financial LLC increased its position in Hagerty by 3.0% during the fourth quarter. LPL Financial LLC now owns 115,039 shares of the company’s stock worth $1,546,000 after acquiring an additional 3,321 shares during the period. Institutional investors own 20.51% of the company’s stock.

Hagerty Company Profile

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.