Hagerty, Inc. $HGTY Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC reduced its stake in Hagerty, Inc. (NYSE:HGTY) by 22.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 196,920 shares of the company’s stock after selling 55,615 shares during the period. Confluence Investment Management LLC owned 0.06% of Hagerty worth $2,647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HGTY. Neuberger Berman Group LLC boosted its holdings in shares of Hagerty by 44.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 8,047,786 shares of the company’s stock valued at $96,895,000 after buying an additional 2,490,359 shares in the last quarter. Polar Capital Holdings Plc raised its stake in 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 acquiring an additional 498,389 shares in the last quarter. Vanguard Group Inc. raised its stake in Hagerty by 32.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock worth $41,612,000 after acquiring an additional 843,433 shares in the last quarter. Greenhaven Road Investment Management L.P. lifted its position in Hagerty by 47.1% in the third quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company’s stock valued at $32,084,000 after acquiring an additional 853,245 shares during the last quarter. Finally, Pembroke Management LTD lifted its position in Hagerty by 127.6% in the third 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.

Insider Activity at Hagerty

In related news, insider Kenneth Ahn sold 50,000 shares of Hagerty stock in a transaction on Monday, January 26th. The shares were sold at an average price of $12.41, for a total value of $620,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anthony J. Kuczinski acquired 4,000 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was purchased at an average cost of $9.50 per share, for a total transaction of $38,000.00. Following the completion of the purchase, the director directly owned 47,277 shares in the company, valued at $449,131.50. This trade represents a 9.24% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 351,350 shares of company stock valued at $4,474,572 in the last 90 days. Company insiders own 16.70% of the company’s stock.

Analysts Set New Price Targets

HGTY has been the topic of several research reports. Wall Street Zen lowered Hagerty from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Hagerty in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. upped their target price on Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Hagerty Stock Performance

Shares of HGTY stock opened at $10.45 on Friday. The stock has a market capitalization of $3.57 billion, a PE ratio of 31.66 and a beta of 0.90. Hagerty, Inc. has a 52-week low of $8.03 and a 52-week high of $14.00. The stock’s 50-day moving average price is $11.70 and its 200 day moving average price is $12.21. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.27.

Hagerty (NYSE:HGTY) last posted its quarterly earnings data 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. Hagerty had a return on equity of 16.24% and a net margin of 5.98%.The company had revenue of $388.10 million during the quarter, compared to analysts’ expectations of $323.93 million. As a group, equities research analysts forecast that Hagerty, Inc. will post 0.22 EPS for the current year.

Hagerty 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.