Hagerty (NYSE:HGTY – Get Free Report) had its target price increased by stock analysts at Keefe, Bruyette & Woods from $15.00 to $16.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 21.49% from the company’s current price.
Other research analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. Wells Fargo & Company lifted their price target on shares of Hagerty from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Truist Financial boosted their price target on shares of Hagerty from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Friday. JPMorgan Chase & Co. upped their price objective on shares of Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Finally, UBS Group set a $14.00 price objective on Hagerty in a report on Wednesday, June 10th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.00.
Read Our Latest Analysis on Hagerty
Hagerty Price Performance
Hagerty (NYSE:HGTY – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.07. Hagerty had a net margin of 1.81% and a return on equity of 5.15%. The company had revenue of $354.82 million for the quarter, compared to analyst estimates of $316.21 million. Equities research analysts anticipate that Hagerty will post -0.1 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Hagerty news, CAO Kevin M. Delaney sold 9,440 shares of Hagerty stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $12.10, for a total value of $114,224.00. Following the transaction, the chief accounting officer directly owned 89,610 shares in the company, valued at approximately $1,084,281. The trade was a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 13,458 shares of company stock valued at $163,227 in the last quarter. Insiders own 3.70% of the company’s stock.
Institutional Trading of Hagerty
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Hagerty by 32.3% during the third quarter. Vanguard Group Inc. now owns 3,456,174 shares of the company’s stock worth $41,612,000 after acquiring an additional 843,433 shares during the period. Polar Capital Holdings Plc boosted its holdings in Hagerty by 9.4% in the 3rd 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 in the last quarter. Woodline Partners LP purchased a new stake in Hagerty in the 3rd quarter valued at approximately $3,339,000. Neuberger Berman Group LLC increased 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 purchasing an additional 221,834 shares during the period. Finally, Lincoln Capital LLC raised its position in 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 acquiring an additional 137,794 shares in the last quarter. Hedge funds and other institutional investors own 20.51% of the company’s stock.
About Hagerty
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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