Hagerty, Inc. (NYSE:HGTY) Receives Consensus Rating of "Moderate Buy" from Analysts

Hagerty, Inc. (NYSE:HGTY - Get Free Report) has received an average recommendation of "Moderate Buy" from the nine research firms that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $14.00.

HGTY has been the subject of several research analyst reports. Weiss Ratings upgraded Hagerty from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. UBS Group set a $14.00 price target on shares of Hagerty in a report on Wednesday, June 10th. Wall Street Zen upgraded shares of Hagerty from a "sell" rating to a "hold" rating in a research note on Saturday, July 4th. JPMorgan Chase & Co. increased their price objective on shares of Hagerty from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Finally, Wells Fargo & Company boosted their target price on shares of Hagerty from $11.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 9th.

Insiders Place Their Bets

In other news, CAO Kevin Delaney sold 3,113 shares of Hagerty stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $12.25, for a total value of $38,134.25. Following the completion of the transaction, the chief accounting officer owned 83,972 shares in the company, valued at approximately $1,028,657. This trade represents a 3.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,458 shares of company stock valued at $163,227 over the last three months. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Hagerty

A number of hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its stake in Hagerty by 1,850.5% during the second quarter. California State Teachers Retirement System now owns 651,571 shares of the company's stock valued at $7,767,000 after purchasing an additional 618,165 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of Hagerty in the 2nd quarter worth about $28,000. Lincoln Capital LLC lifted its position in shares of Hagerty by 2.4% in the 2nd quarter. Lincoln Capital LLC now owns 973,651 shares of the company's stock worth $11,606,000 after buying an additional 22,999 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Hagerty by 107.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company's stock valued at $32,000 after buying an additional 1,591 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Hagerty in the 1st quarter valued at about $115,000. Institutional investors and hedge funds own 20.51% of the company's stock.

Hagerty Trading Up 0.1%

NYSE:HGTY opened at $13.57 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.53 and a current ratio of 1.53. Hagerty has a one year low of $9.36 and a one year high of $14.00. The business's 50-day simple moving average is $12.50 and its 200 day simple moving average is $11.34. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 150.78 and a beta of 0.81.

Hagerty (NYSE:HGTY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.07. Hagerty had a return on equity of 5.15% and a net margin of 1.81%.The firm had revenue of $354.82 million during the quarter, compared to analyst estimates of $316.21 million. As a group, sell-side analysts predict that Hagerty will post 0.01 earnings per share for the current fiscal year.

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.

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