Key Points
- Kenneth Ahn sold 251,350 Hagerty shares in multiple transactions in early January, totaling about $3.23 million and including a 1,350‑share sale on Jan. 9 disclosed in an SEC filing.
- Hagerty recently beat quarterly EPS and revenue estimates, has a market cap of $4.33 billion and a P/E of 45.25, and carries a consensus analyst rating of "Moderate Buy" with an average target price of $14.13.
Hagerty, Inc. (NYSE:HGTY - Get Free Report) insider Kenneth Ahn sold 1,350 shares of the business's stock in a transaction on Friday, January 9th. The shares were sold at an average price of $13.25, for a total transaction of $17,887.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Kenneth Ahn also recently made the following trade(s):
- On Monday, January 12th, Kenneth Ahn sold 50,000 shares of Hagerty stock. The shares were sold at an average price of $12.86, for a total transaction of $643,000.00.
- On Monday, January 5th, Kenneth Ahn sold 164,870 shares of Hagerty stock. The stock was sold at an average price of $12.79, for a total transaction of $2,108,687.30.
- On Wednesday, January 7th, Kenneth Ahn sold 24,247 shares of Hagerty stock. The stock was sold at an average price of $13.08, for a total transaction of $317,150.76.
- On Tuesday, January 6th, Kenneth Ahn sold 10,883 shares of Hagerty stock. The shares were sold at an average price of $12.85, for a total transaction of $139,846.55.
Hagerty Stock Performance
NYSE HGTY opened at $12.67 on Wednesday. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 45.25 and a beta of 0.89. The business's 50 day moving average is $13.08 and its two-hundred day moving average is $11.85. Hagerty, Inc. has a 12-month low of $8.03 and a 12-month high of $14.00. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.17.
Hagerty (NYSE:HGTY - Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.09 by $0.04. Hagerty had a return on equity of 16.85% and a net margin of 5.85%.The business had revenue of $359.01 million during the quarter, compared to analysts' expectations of $354.36 million. Research analysts expect that Hagerty, Inc. will post 0.22 EPS for the current year.
Hedge Funds Weigh In On Hagerty
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Corton Capital Inc. acquired a new stake in shares of Hagerty in the second quarter valued at approximately $273,000. IFP Advisors Inc purchased a new stake in Hagerty in the 2nd quarter valued at approximately $30,000. Neuberger Berman Group LLC lifted its stake in Hagerty by 1.6% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,557,427 shares of the company's stock valued at $56,186,000 after buying an additional 88,634 shares in the last quarter. Lincoln Capital LLC grew its holdings in Hagerty by 9.4% during the 2nd quarter. Lincoln Capital LLC now owns 607,309 shares of the company's stock valued at $6,140,000 after buying an additional 52,023 shares during the last quarter. Finally, Greenhaven Road Investment Management L.P. increased its position in Hagerty by 33.2% during the second quarter. Greenhaven Road Investment Management L.P. now owns 1,811,539 shares of the company's stock worth $18,315,000 after buying an additional 451,033 shares in the last quarter. Institutional investors and hedge funds own 20.51% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on HGTY shares. JPMorgan Chase & Co. upped their price target on shares of Hagerty from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 7th. Citizens Jmp began coverage on shares of Hagerty in a report on Wednesday, October 1st. They set a "mkt outperform" rating and a $15.00 price objective on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Hagerty in a report on Monday, December 29th. Wells Fargo & Company initiated coverage on shares of Hagerty in a research report on Friday, October 3rd. They set an "equal weight" rating and a $13.00 price target for the company. Finally, Keefe, Bruyette & Woods boosted their price target on Hagerty from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 12th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $14.13.
Check Out Our Latest Stock Analysis on Hagerty
About Hagerty
(
Get Free Report)
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.
Further Reading
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