Hagerty, Inc. (NYSE:HGTY) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst consensus: Eight analysts rate Hagerty an average of "Moderate Buy" (four Buy, four Hold) with a 12‑month average target of $13.71, amid recent target changes such as JPMorgan raising to $13 and Wells Fargo cutting to $11.
• Quarterly beat: Hagerty reported EPS of $0.08 versus $0.04 expected and revenue of $388.1M versus $323.9M expected, with a net margin of 5.98% and return on equity of 16.24%.

Shares of Hagerty, Inc. (NYSE:HGTY - Get Free Report) have received an average recommendation of "Moderate Buy" from the eight ratings firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $13.7143.

A number of research analysts have commented on HGTY shares. JPMorgan Chase & Co. upped 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. Wells Fargo & Company decreased their target price on shares of Hagerty from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Thursday. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Hagerty in a research report on Monday, December 29th.

Hagerty Trading Down 2.3%

Shares of HGTY stock opened at $11.10 on Friday. The company's 50-day moving average price is $11.19 and its 200-day moving average price is $12.07. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.27. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 33.64 and a beta of 0.93. Hagerty has a twelve month low of $8.37 and a twelve month high of $14.00.

Hagerty (NYSE:HGTY - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.04. The firm had revenue of $388.10 million for the quarter, compared to analysts' expectations of $323.93 million. Hagerty had a net margin of 5.98% and a return on equity of 16.24%. As a group, equities analysts predict that Hagerty will post 0.22 earnings per share for the current year.

Insider Buying and Selling at Hagerty

In related news, Director Anthony J. Kuczinski bought 4,000 shares of the firm's stock in a transaction on Thursday, March 12th. The shares were bought at an average price of $9.50 per share, with a total value of $38,000.00. Following the completion of the transaction, the director directly owned 47,277 shares of the company's stock, valued at $449,131.50. This represents a 9.24% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kenneth Ahn sold 50,000 shares of the company's 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 disclosure for this sale is available in the SEC filing. Insiders have sold 155,531 shares of company stock valued at $1,951,896 over the last 90 days. 16.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC lifted its position in Hagerty by 2.8% in the fourth quarter. Neuberger Berman Group LLC now owns 8,269,620 shares of the company's stock valued at $111,144,000 after buying an additional 221,834 shares during the last quarter. Polar Capital Holdings Plc lifted its position in shares of Hagerty by 9.4% during the third quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company's stock worth $70,042,000 after purchasing an additional 498,389 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Hagerty by 32.3% during the third quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company's stock worth $41,612,000 after purchasing an additional 843,433 shares in the last quarter. Greenhaven Road Investment Management L.P. lifted its position in shares of Hagerty by 47.1% during the third quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company's stock worth $32,084,000 after purchasing an additional 853,245 shares in the last quarter. Finally, Pembroke Management LTD lifted its position in shares of Hagerty by 127.6% during the third quarter. Pembroke Management LTD now owns 2,261,203 shares of the company's stock worth $27,225,000 after purchasing an additional 1,267,754 shares in 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.

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