Key Points
- Hagerty CAO Kevin Delaney sold 9,440 shares on July 1 at an average price of $12.10, bringing in about $114,224. After the sale, he still held 89,610 shares, and the transaction was made under a pre-arranged Rule 10b5-1 plan.
- The stock has been trading near the middle of its yearly range, opening at $12.34 versus a 52-week low of $8.81 and high of $14.00. Hagerty also carries a market cap of about $4.24 billion and a relatively low beta of 0.79.
- Hagerty’s latest earnings missed profit expectations but beat on revenue, posting EPS of -$0.04 versus the expected $0.01 while revenue came in at $311.83 million, above estimates. Analysts currently rate the stock a consensus Hold with an average target price of $13.44.
Hagerty, Inc. (NYSE:HGTY - Get Free Report) CAO Kevin Delaney sold 905 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $12.01, for a total transaction of $10,869.05. Following the completion of the transaction, the chief accounting officer owned 99,050 shares in the company, valued at approximately $1,189,590.50. This represents a 0.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Hagerty Stock Up 2.3%
HGTY stock opened at $12.34 on Friday. The company has a 50 day moving average of $10.71 and a two-hundred day moving average of $11.43. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 61.68 and a beta of 0.79. Hagerty, Inc. has a 12-month low of $8.81 and a 12-month high of $14.00. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.35.
Hagerty (NYSE:HGTY - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.05). Hagerty had a return on equity of 11.94% and a net margin of 5.11%.The company had revenue of $311.83 million during the quarter, compared to analyst estimates of $284.88 million. On average, equities analysts anticipate that Hagerty, Inc. will post -0.1 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research firms recently commented on HGTY. Wells Fargo & Company dropped their price objective on Hagerty from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Thursday, April 9th. UBS Group set a $14.00 target price on shares of Hagerty in a research report on Wednesday, June 10th. Truist Financial reduced their price objective on shares of Hagerty from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Monday, May 11th. Weiss Ratings upgraded shares of Hagerty from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, June 17th. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of Hagerty in a research report on Wednesday, June 10th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Hagerty presently has an average rating of "Hold" and a consensus target price of $13.44.
Get Our Latest Research Report on Hagerty
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC lifted its position in Hagerty by 2.8% during the 4th quarter. Neuberger Berman Group LLC now owns 8,269,620 shares of the company's stock worth $111,144,000 after acquiring an additional 221,834 shares during the last quarter. Polar Capital Holdings Plc grew its position 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 purchasing an additional 498,389 shares during the last quarter. Vanguard Group Inc. grew its position 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 purchasing an additional 843,433 shares during the last quarter. Greenhaven Road Investment Management L.P. increased 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 worth $32,084,000 after purchasing an additional 853,245 shares during the period. Finally, Lincoln Capital LLC increased its stake in shares of Hagerty by 17.0% in the first quarter. Lincoln Capital LLC now owns 950,652 shares of the company's stock worth $10,008,000 after purchasing an additional 137,794 shares during the period. 20.51% of the stock is currently owned by institutional investors and hedge funds.
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
