Hagerty, Inc. (NYSE:HGTY – Get Free Report) has earned an average rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $13.80.
A number of research firms have issued reports on HGTY. JPMorgan Chase & Co. boosted their target price on Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Truist Financial raised their price target on Hagerty from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Friday, August 7th. Wells Fargo & Company raised their price target on Hagerty from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Zacks Research cut Hagerty from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Finally, Keefe, Bruyette & Woods boosted their price objective on Hagerty from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th.
Read Our Latest Analysis on Hagerty
Hagerty Stock Up 0.5%
Hagerty stock opened at $15.53 on Tuesday. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 172.56 and a beta of 0.83. The company’s 50 day simple moving average is $14.13 and its 200 day simple moving average is $12.06. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.53 and a quick ratio of 1.53. Hagerty has a fifty-two week low of $9.36 and a fifty-two week high of $16.00.
Hagerty (NYSE:HGTY – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.07. The company had revenue of $354.82 million for the quarter, compared to analyst estimates of $316.21 million. Hagerty had a net margin of 1.81% and a return on equity of 5.15%. As a group, sell-side analysts anticipate that Hagerty will post 0.01 EPS for the current year.
Insider Buying and Selling
In related news, major shareholder Holding Corp. Hagerty sold 1,387,500 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $11.47, for a total value of $15,914,625.00. Following the sale, the insider directly owned 9,250,000 shares of the company’s stock, valued at approximately $106,097,500. The trade was a 13.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.70% of the company’s stock.
Institutional Trading of Hagerty
Institutional investors have recently modified their holdings of the company. Ancora Advisors LLC acquired a new stake in Hagerty in the 2nd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC boosted its position in Hagerty by 107.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock worth $32,000 after acquiring an additional 1,591 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Hagerty during the 3rd quarter worth approximately $55,000. Integrated Wealth Concepts LLC acquired a new position in Hagerty during the 2nd quarter worth approximately $63,000. Finally, Vise Technologies Inc. bought a new position in shares of Hagerty during the 3rd quarter worth approximately $139,000. 20.51% of the stock is currently owned by institutional investors.
Hagerty Company Profile
Hagerty, Inc is an automotive lifestyle and insurance company focused on enthusiasts and owners of classic, collector and specialty vehicles. The company provides insurance brokerage and related services designed for collector vehicles, with coverage generally underwritten by third-party insurance carriers.
In addition to insurance, Hagerty offers vehicle valuation and pricing information, membership programs, editorial content, events and enthusiast-focused digital services. Its offerings include Hagerty Drivers Club, Hagerty Valuations and Hagerty Marketplace, which connects buyers and sellers of collectible vehicles.
Recommended Stories
- Five stocks we like better than Hagerty
- Starbucks Says Its Turnaround Is Done—The Numbers Make a Strong Case (With 1 Catch)
- 3 Robotics ETFs, 3 Different Ways to Bet on Humanoid Robots
- Can Microsoft Turn a Leaner Workforce and Record AI Spending Into Bigger Profits?
- Why JFrog Could Be the Software Infrastructure Company to Beat in the AI Boom
Receive News & Ratings for Hagerty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hagerty and related companies with MarketBeat.com's FREE daily email newsletter.
