Key Points
- Hagerty CAO Kevin Delaney sold 3,113 shares on July 2 at an average price of $12.25, totaling about $38,134. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still directly owns 83,972 shares.
- Hagerty’s stock was trading at $12.35 at the time of the report, near the middle of its 52-week range of $8.81 to $14.00. The company has a market cap of about $4.24 billion and a beta of 0.79.
- Recent fundamentals and analyst views were mixed: Hagerty missed EPS expectations in its latest quarterly report but posted higher-than-expected revenue. Wall Street currently has a consensus Hold rating with an average price target of $13.44.
Hagerty, Inc. (NYSE:HGTY - Get Free Report) CAO Kevin Delaney sold 3,113 shares of the business's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $12.25, for a total transaction of $38,134.25. Following the sale, the chief accounting officer directly owned 83,972 shares of the company's stock, valued at approximately $1,028,657. The trade was a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Hagerty Price Performance
HGTY stock opened at $12.35 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.65 and a current ratio of 1.65. The business has a 50-day simple moving average of $10.77 and a two-hundred day simple moving average of $11.42. The company has a market capitalization of $4.24 billion, a P/E ratio of 61.66 and a beta of 0.79. Hagerty, Inc. has a 52-week low of $8.81 and a 52-week high of $14.00.
Hagerty (NYSE:HGTY - Get Free Report) last posted its 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 net margin of 5.11% and a return on equity of 11.94%. The company had revenue of $311.83 million during the quarter, compared to the consensus estimate of $284.88 million. Research analysts expect that Hagerty, Inc. will post -0.1 EPS for the current fiscal year.
Hedge Funds Weigh In On Hagerty
A number of institutional investors have recently added to or reduced their stakes in HGTY. EverSource Wealth Advisors LLC boosted its position in shares of Hagerty by 107.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company's stock valued at $32,000 after acquiring an additional 1,591 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Hagerty in the first quarter worth approximately $115,000. Renaissance Technologies LLC increased its position in shares of Hagerty by 79.2% in the first quarter. Renaissance Technologies LLC now owns 157,668 shares of the company's stock worth $1,660,000 after purchasing an additional 69,700 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Hagerty by 49.5% in the first quarter. Dimensional Fund Advisors LP now owns 271,346 shares of the company's stock valued at $2,857,000 after purchasing an additional 89,898 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Hagerty by 3.1% during the first quarter. Bank of New York Mellon Corp now owns 39,730 shares of the company's stock valued at $418,000 after purchasing an additional 1,209 shares during the last quarter. 20.51% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
HGTY has been the topic of several research reports. Wall Street Zen raised shares of Hagerty from a "sell" rating to a "hold" rating in a research report on Saturday. Weiss Ratings raised Hagerty from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, June 17th. UBS Group set a $14.00 price target on shares of Hagerty in a research note on Wednesday, June 10th. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Hagerty in a research report on Wednesday, June 10th. Finally, Wells Fargo & Company decreased their price target on Hagerty from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 9th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $13.44.
Check Out Our Latest Stock Report 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.
See Also
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].
