Key Points
- Hagerty director Laurie Harris sold 5,531 shares on April 7 at an average price of $11.01 for $60,896.31 under a pre-arranged Rule 10b5-1 plan to cover tax withholding from vested equity, trimming her stake by 13.10% to 36,689 shares.
- Hagerty recently beat quarterly estimates with $0.08 EPS (vs. $0.04 expected) and $388.1M revenue (vs. $323.93M expected); the stock has a $3.90B market cap, a 12‑month range of $8.22–$14.00, and a consensus analyst view of "Moderate Buy" with a $14.00 target.
Hagerty, Inc. (NYSE:HGTY - Get Free Report) Director Laurie Harris sold 5,531 shares of Hagerty stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $11.01, for a total value of $60,896.31. Following the sale, the director owned 36,689 shares in the company, valued at $403,945.89. This trade represents a 13.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. 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.
Hagerty Stock Performance
Shares of Hagerty stock opened at $11.38 on Thursday. The business's fifty day simple moving average is $11.22 and its 200 day simple moving average is $12.07. The firm has a market capitalization of $3.90 billion, a P/E ratio of 34.49 and a beta of 0.93. Hagerty, Inc. has a 12 month low of $8.22 and a 12 month high of $14.00. 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 (NYSE:HGTY - Get Free Report) last issued 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. The business 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%. As a group, analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Hagerty in a report on Monday, December 29th. Wall Street Zen downgraded shares of Hagerty from a "buy" rating to a "hold" rating in a report on Saturday, February 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Hagerty from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, January 7th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Hagerty has an average rating of "Moderate Buy" and a consensus target price of $14.00.
Read Our Latest Stock Analysis on HGTY
Institutional Trading of Hagerty
Several hedge funds have recently made changes to their positions in HGTY. Neuberger Berman Group LLC raised its stake in shares of Hagerty by 44.8% in the third quarter. Neuberger Berman Group LLC now owns 8,047,786 shares of the company's stock valued at $96,895,000 after buying an additional 2,490,359 shares during the period. Pembroke Management LTD raised its stake in shares of Hagerty by 127.6% in the third quarter. Pembroke Management LTD now owns 2,261,203 shares of the company's stock valued at $27,225,000 after buying an additional 1,267,754 shares during the period. Greenhaven Road Investment Management L.P. raised its stake in shares of Hagerty by 47.1% in the third quarter. Greenhaven Road Investment Management L.P. now owns 2,664,784 shares of the company's stock valued at $32,084,000 after buying an additional 853,245 shares during the period. Vanguard Group Inc. raised its stake in shares of Hagerty by 32.3% in the third quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company's stock valued at $41,612,000 after buying an additional 843,433 shares during the period. Finally, Polar Capital Holdings Plc raised its stake in shares of Hagerty by 9.4% in the third quarter. Polar Capital Holdings Plc now owns 5,817,416 shares of the company's stock valued at $70,042,000 after buying an additional 498,389 shares during the period. 20.51% of the stock is currently owned by institutional investors.
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.
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