Scholtz & Company LLC Makes New $2.43 Million Investment in Hagerty, Inc. $HGTY

Scholtz & Company LLC bought a new position in Hagerty, Inc. (NYSE:HGTY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 240,290 shares of the company’s stock, valued at approximately $2,429,000. Scholtz & Company LLC owned 0.07% of Hagerty as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HGTY. IFP Advisors Inc purchased a new stake in Hagerty in the 2nd quarter worth approximately $30,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Hagerty in the 1st quarter worth approximately $93,000. KLP Kapitalforvaltning AS grew its stake in Hagerty by 228.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock worth $106,000 after acquiring an additional 7,300 shares during the period. Virtu Financial LLC acquired a new position in shares of Hagerty in the 1st quarter valued at $108,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Hagerty by 24.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company’s stock valued at $338,000 after purchasing an additional 7,459 shares during the last quarter. 20.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hagerty

In related news, Director Robert I. Kauffman sold 1,455,000 shares of Hagerty stock in a transaction on Monday, August 11th. The shares were sold at an average price of $8.92, for a total transaction of $12,978,600.00. Following the transaction, the director owned 1,721,662 shares in the company, valued at approximately $15,357,225.04. The trade was a 45.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Holding Corp. Hagerty sold 8,245,000 shares of Hagerty stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $8.92, for a total transaction of $73,545,400.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,633,821 shares of company stock worth $105,120,074 in the last 90 days. Company insiders own 16.70% of the company’s stock.

Hagerty Stock Performance

NYSE:HGTY opened at $11.21 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 56.03 and a beta of 0.92. The firm’s fifty day simple moving average is $11.79 and its 200 day simple moving average is $10.51. Hagerty, Inc. has a twelve month low of $8.03 and a twelve month high of $13.32.

Hagerty (NYSE:HGTY) last posted its earnings results on Monday, August 4th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The business had revenue of $368.70 million for the quarter, compared to analyst estimates of $347.15 million. Hagerty had a net margin of 4.88% and a return on equity of 13.76%. Hagerty has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Hagerty, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Hagerty in a report on Wednesday, August 27th. They issued an “outperform” rating and a $14.00 price target on the stock. Evercore ISI assumed coverage on shares of Hagerty in a report on Wednesday, August 27th. They issued an “outperform” rating and a $14.00 price target on the stock. JMP Securities assumed coverage on shares of Hagerty in a report on Wednesday, October 1st. They issued a “market outperform” rating and a $15.00 price target on the stock. Oppenheimer assumed coverage on shares of Hagerty in a report on Wednesday, September 17th. They issued an “outperform” rating and a $15.00 price target on the stock. Finally, Citizens Jmp assumed coverage on shares of Hagerty in a report on Wednesday, October 1st. They issued a “mkt outperform” rating and a $15.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.88.

About Hagerty

Hagerty, Inc provides insurance agency services worldwide. It offers motor vehicle and boat insurance products; and reinsurance products. The company provides Hagerty Media, which publishes contents through the Hagerty Drivers Club Magazine (HDC), video content, and social media channels; HDC that offers subscription based products and services, including HDC Magazine, automotive enthusiast events, proprietary vehicle valuation tools, emergency roadside services, and special vehicle-related discounts.