Brokerages Set Hagerty, Inc. (NYSE:HGTY) Price Target at $14.00
by Tristan Rich · The Markets DailyShares of Hagerty, Inc. (NYSE:HGTY – Get Free Report) have earned a consensus rating of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $14.00.
HGTY has been the topic of several analyst reports. Wall Street Zen lowered Hagerty from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Hagerty in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Hagerty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th.
Read Our Latest Stock Analysis on HGTY
Insider Buying and Selling at Hagerty
In other Hagerty news, insider Kenneth Ahn sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $12.41, for a total transaction of $620,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony J. Kuczinski bought 4,000 shares of the stock in a transaction on Thursday, March 12th. The stock was bought at an average price of $9.50 per share, for a total transaction of $38,000.00. Following the completion of the purchase, the director directly owned 47,277 shares in the company, valued at approximately $449,131.50. The trade was a 9.24% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 351,350 shares of company stock valued at $4,474,572. Corporate insiders own 16.70% of the company’s stock.
Hedge Funds Weigh In On Hagerty
Hedge funds and other institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its position in Hagerty by 2,374.5% in the second quarter. Osaic Holdings Inc. now owns 4,949 shares of the company’s stock valued at $50,000 after purchasing an additional 4,749 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Hagerty by 165.3% in the third quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock valued at $62,000 after buying an additional 3,197 shares in the last quarter. Bank of America Corp DE grew its holdings in Hagerty by 46.6% during the second quarter. Bank of America Corp DE now owns 8,571 shares of the company’s stock worth $87,000 after acquiring an additional 2,726 shares during the period. Los Angeles Capital Management LLC acquired a new position in Hagerty during the fourth quarter worth $98,000. Finally, Arizona State Retirement System purchased a new position in Hagerty in the third quarter worth $141,000. 20.51% of the stock is currently owned by hedge funds and other institutional investors.
Hagerty Stock Up 2.0%
Shares of HGTY opened at $10.45 on Monday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.27. Hagerty has a 52-week low of $8.03 and a 52-week high of $14.00. The company has a market cap of $3.57 billion, a PE ratio of 31.66 and a beta of 0.90. The business has a fifty day moving average of $11.70 and a 200 day moving average of $12.21.
Hagerty (NYSE:HGTY – Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. Hagerty had a net margin of 5.98% and a return on equity of 16.24%. The firm had revenue of $388.10 million during the quarter, compared to analyst estimates of $323.93 million. On average, sell-side analysts expect that Hagerty will post 0.22 EPS for the current year.
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.