Key Points
- Director Anthony Kuczinski bought 4,000 shares of Hagerty (NYSE:HGTY) on March 12 at $9.50 per share for $38,000, raising his ownership to 47,277 shares (a 9.24% increase) as disclosed in an SEC filing.
- Strong quarter and analyst view: Hagerty reported $0.08 EPS (+$0.04 vs. consensus) and $388.1M revenue for the quarter, and analysts hold a consensus “Moderate Buy” with a $14.00 target price.
- Stock metrics and recent price action: HGTY opened at $10.24, has a 52-week range of $8.03–$14.00, a market cap of about $3.5B and a trailing P/E of ~31, and was recently noted as up roughly 4.6%.
Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Anthony Kuczinski acquired 4,000 shares of the firm's stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $9.50 per share, for a total transaction of $38,000.00. Following the completion of the acquisition, the director owned 47,277 shares in the company, valued at approximately $449,131.50. The trade was a 9.24% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Hagerty Stock Up 4.6%
Hagerty stock opened at $10.24 on Friday. Hagerty, Inc. has a fifty-two week low of $8.03 and a fifty-two week high of $14.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a 50 day moving average price of $11.96 and a 200 day moving average price of $12.24. The company has a market capitalization of $3.50 billion, a PE ratio of 31.03 and a beta of 0.90.
Hagerty (NYSE:HGTY - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.04. Hagerty had a return on equity of 16.24% and a net margin of 5.98%.The company had revenue of $388.10 million for the quarter, compared to analysts' expectations of $323.93 million. Research analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. grew its stake in Hagerty by 2,374.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,949 shares of the company's stock worth $50,000 after purchasing an additional 4,749 shares in the last quarter. BNP Paribas Financial Markets raised its position in 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 in the last quarter. Bank of America Corp DE raised its position in 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 in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Hagerty in the 4th quarter valued at about $98,000. Finally, Arizona State Retirement System acquired a new position in shares of Hagerty during the third quarter worth about $141,000. 20.51% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
HGTY has been the topic of several research reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Hagerty in a research note on Monday, December 29th. JPMorgan Chase & Co. lifted their target price on Hagerty from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, January 7th. Finally, Wall Street Zen lowered shares of Hagerty from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Hagerty currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.
Read Our Latest Stock Analysis on HGTY
Hagerty Company Profile
(
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.
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