Vident Advisory LLC Has $400,000 Position in Hagerty, Inc. $HGTY

Key Points

• Vident Advisory LLC reduced its stake in Hagerty, Inc. by 35.9% during the first quarter, holding now 44,220 shares worth $400,000.
• Several institutional investors, including Neuberger Berman Group LLC and Dimensional Fund Advisors LP, increased their positions in Hagerty, reflecting ongoing interest from the investment community.
• Hagerty's stock has shown volatility, with a recent trading price of $11.75, having a market cap of $4.02 billion and a P/E ratio of 58.75.

Vident Advisory LLC reduced its holdings in Hagerty, Inc. (NYSE:HGTY - Free Report) by 35.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,220 shares of the company's stock after selling 24,748 shares during the period. Vident Advisory LLC's holdings in Hagerty were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of HGTY. BNP Paribas Financial Markets purchased a new position in shares of Hagerty in the fourth quarter worth about $84,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Hagerty in the first quarter worth about $93,000. Voya Investment Management LLC purchased a new position in shares of Hagerty in the fourth quarter worth about $104,000. Virtu Financial LLC purchased a new position in Hagerty during the first quarter worth about $108,000. Finally, Jane Street Group LLC purchased a new position in Hagerty during the fourth quarter worth about $230,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

Hagerty Stock Down 0.5%

NYSE:HGTY traded down $0.07 on Thursday, hitting $12.41. 202,504 shares of the company's stock traded hands, compared to its average volume of 99,218. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $12.75. The firm has a 50-day moving average price of $10.74 and a 200-day moving average price of $9.84. The company has a market cap of $4.24 billion, a PE ratio of 62.08 and a beta of 0.91.

Hagerty (NYSE:HGTY - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. Hagerty had a return on equity of 13.76% and a net margin of 4.88%.The business had revenue of $368.70 million during the quarter, compared to analyst estimates of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. Equities analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Holding Corp. Hagerty sold 1,236,750 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $8.92, for a total transaction of $11,031,810.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert I. Kauffman sold 38,085 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $12.01, for a total value of $457,400.85. Following the sale, the director owned 1,250,444 shares in the company, valued at approximately $15,017,832.44. This represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,953,079 shares of company stock worth $107,763,203. 16.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on HGTY shares. Evercore ISI started coverage on shares of Hagerty in a research note on Wednesday, August 27th. They set an "outperform" rating and a $14.00 target price on the stock. Keefe, Bruyette & Woods started coverage on shares of Hagerty in a research note on Wednesday, August 27th. They set an "outperform" rating and a $14.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $12.67.

Hagerty Profile

Hagerty, Inc provides insurance agency services worldwide. It offers motor vehicle and boat insurance products; and reinsurance products. The company provides Hagerty Media, which publishes contents through the Hagerty Drivers Club Magazine (HDC), video content, and social media channels; HDC that offers subscription based products and services, including HDC Magazine, automotive enthusiast events, proprietary vehicle valuation tools, emergency roadside services, and special vehicle-related discounts.