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

Key Points

• Shares have a consensus analyst rating of Moderate Buy from eight analysts (four hold, four buy) with an average 12‑month price target of $13.71.
• Hagerty recently beat expectations, reporting EPS of $0.08 versus $0.04 and revenue of $388.1M versus $323.9M, while analysts forecast $0.14 EPS for the current year.
• Insiders were active: Director Laurie Harris sold 5,531 shares under a Rule 10b5‑1 plan to cover taxes and Director Anthony J. Kuczinski purchased 4,000 shares; insiders own about 16.7% of the stock.

Shares of Hagerty, Inc. (NYSE:HGTY - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eight analysts that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $13.7143.

A number of brokerages have recently weighed in on HGTY. Wells Fargo & Company lowered their target price on Hagerty from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 9th. JPMorgan Chase & Co. raised their price objective on Hagerty from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 7th. Finally, Wall Street Zen lowered Hagerty from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th.

Insiders Place Their Bets

In other Hagerty news, Director Laurie Harris sold 5,531 shares of the firm's stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $11.01, for a total transaction of $60,896.31. Following the transaction, the director owned 36,689 shares in the company, valued at $403,945.89. This trade represents a 13.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anthony J. Kuczinski acquired 4,000 shares of the stock in a transaction on Thursday, March 12th. The shares were 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 approximately $449,131.50. This trade represents a 9.24% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 16.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hagerty

A number of hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank increased its stake in Hagerty by 3.4% during the 4th quarter. Swiss National Bank now owns 79,260 shares of the company's stock worth $1,065,000 after acquiring an additional 2,600 shares during the period. Bank of America Corp DE increased its stake in shares of Hagerty by 46.6% in the 2nd quarter. Bank of America Corp DE now owns 8,571 shares of the company's stock valued at $87,000 after purchasing an additional 2,726 shares during the last quarter. Trexquant Investment LP increased its stake in shares of Hagerty by 2.6% in the 4th quarter. Trexquant Investment LP now owns 115,277 shares of the company's stock valued at $1,549,000 after purchasing an additional 2,872 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Hagerty by 165.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company's stock valued at $62,000 after purchasing an additional 3,197 shares during the last quarter. Finally, LPL Financial LLC increased its stake in shares of Hagerty by 3.0% in the 4th quarter. LPL Financial LLC now owns 115,039 shares of the company's stock valued at $1,546,000 after purchasing an additional 3,321 shares during the last quarter. Institutional investors own 20.51% of the company's stock.

Hagerty Price Performance

Shares of NYSE HGTY opened at $10.08 on Tuesday. The firm has a market cap of $3.45 billion, a P/E ratio of 30.56 and a beta of 0.83. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.27. Hagerty has a 1-year low of $8.81 and a 1-year high of $14.00. The business's 50 day moving average is $10.73 and its 200-day moving average is $11.92.

Hagerty (NYSE:HGTY - Get Free Report) last announced its 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 company had revenue of $388.10 million for the quarter, compared to analyst estimates of $323.93 million. Hagerty had a return on equity of 16.24% and a net margin of 5.98%. Equities research analysts predict that Hagerty will post 0.14 earnings per share for the current 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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