Shares of Hagerty, Inc. (NYSE:HGTY – Get Free Report) have earned an average recommendation of “Hold” from the nine analysts that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $13.4444.
Several analysts recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Hagerty from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. Truist Financial reduced their price objective on shares of Hagerty from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. Weiss Ratings raised shares of Hagerty from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. Wall Street Zen cut shares of Hagerty from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Hagerty in a research note on Wednesday, June 10th.
Read Our Latest Stock Report on HGTY
Hagerty Stock Down 0.1%
Hagerty (NYSE:HGTY – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $284.88 million. On average, equities analysts predict that Hagerty will post -0.1 EPS for the current fiscal year.
Insider Buying and Selling at Hagerty
In related news, Director Laurie Harris sold 5,531 shares of the business’s stock in a transaction on Tuesday, April 7th. The shares were 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 of the company’s stock, valued at $403,945.89. The trade was 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 the SEC website. 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. 3.70% of the stock is currently owned by corporate insiders.
Institutional Trading of Hagerty
Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted 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 acquiring an additional 1,209 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Hagerty by 107.4% during the first 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. Swiss National Bank boosted its position in Hagerty by 3.4% during the fourth quarter. Swiss National Bank now owns 79,260 shares of the company’s stock valued at $1,065,000 after acquiring an additional 2,600 shares during the last quarter. Bank of America Corp DE boosted its position in Hagerty by 46.6% during the second quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock valued at $87,000 after acquiring an additional 2,726 shares during the last quarter. Finally, Trexquant Investment LP boosted its position in Hagerty by 2.6% during the fourth quarter. Trexquant Investment LP now owns 115,277 shares of the company’s stock valued at $1,549,000 after acquiring an additional 2,872 shares during the last quarter. Institutional investors own 20.51% of the company’s stock.
Hagerty Company Profile
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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