Hagerty, Inc. (NYSE:HGTY) Short Interest Update

Key Points

• Short interest climbed 19.3% to 486,740 shares as of March 31 (about 0.2% of the company's stock), producing a days‑to‑cover ratio of 2.7 based on average daily volume.
• Quarterly results exceeded estimates—Hagerty reported Q4 EPS of $0.08 versus a $0.04 consensus and revenue of $388.1M versus $323.9M, with the stock trading at a PE of 32.8 and a market cap of $3.71B.
• Insider and analyst signals are mixed: a director purchased 4,000 shares at $9.50 while another sold 5,531 shares under a 10b5‑1 plan; insiders sold 105,531 shares last quarter and own 16.7%, and analysts have a consensus "Moderate Buy" with an average target of $13.71.

Hagerty, Inc. (NYSE:HGTY - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 486,740 shares, a growth of 19.3% from the March 15th total of 408,077 shares. Currently, 0.2% of the company's stock are short sold. Based on an average daily trading volume, of 180,787 shares, the days-to-cover ratio is presently 2.7 days.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HGTY shares. Wells Fargo & Company dropped their target price on Hagerty from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Thursday, April 9th. JPMorgan Chase & Co. increased their target price on Hagerty from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Wednesday, January 7th. Weiss Ratings reissued a "hold (c+)" rating on shares of Hagerty in a report on Monday, December 29th. Finally, Wall Street Zen lowered Hagerty from a "buy" rating to a "hold" rating in a report on Saturday, February 14th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $13.71.

Insider Activity at Hagerty

In other Hagerty news, Director Anthony J. Kuczinski bought 4,000 shares of the company's stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average price of $9.50 per share, with a total value of $38,000.00. Following the completion of the acquisition, 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 can be accessed through this link. Also, Director Laurie Harris sold 5,531 shares of the stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $11.01, for a total value of $60,896.31. Following the completion of the transaction, the director directly owned 36,689 shares in the company, valued at $403,945.89. This trade represents a 13.10% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold 105,531 shares of company stock valued at $1,308,896 over the last quarter. 16.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Hagerty

Several large investors have recently bought and sold shares of the stock. Swiss National Bank boosted its stake in Hagerty by 3.4% in the fourth quarter. Swiss National Bank now owns 79,260 shares of the company's stock valued at $1,065,000 after acquiring an additional 2,600 shares in the last quarter. Bank of America Corp DE boosted its stake in Hagerty by 46.6% in the second quarter. Bank of America Corp DE now owns 8,571 shares of the company's stock valued at $87,000 after acquiring an additional 2,726 shares in the last quarter. Trexquant Investment LP boosted its stake in shares of Hagerty by 2.6% during the fourth quarter. Trexquant Investment LP now owns 115,277 shares of the company's stock worth $1,549,000 after buying an additional 2,872 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Hagerty by 165.3% during the third quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company's stock worth $62,000 after buying an additional 3,197 shares during the period. Finally, LPL Financial LLC boosted its stake in shares of Hagerty by 3.0% during the fourth quarter. LPL Financial LLC now owns 115,039 shares of the company's stock worth $1,546,000 after buying an additional 3,321 shares during the period. Institutional investors and hedge funds own 20.51% of the company's stock.

Hagerty Stock Performance

NYSE HGTY traded up $0.30 during trading hours on Friday, hitting $10.83. The company had a trading volume of 182,960 shares, compared to its average volume of 172,544. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.63 and a current ratio of 1.63. Hagerty has a 1-year low of $8.37 and a 1-year high of $14.00. The company has a market cap of $3.71 billion, a PE ratio of 32.80 and a beta of 0.93. The business has a 50 day moving average of $10.99 and a 200-day moving average of $12.01.

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