Hagerty (NYSE:HGTY) Rating Lowered to Sell at Wall Street Zen

by · The Cerbat Gem

Hagerty (NYSE:HGTY – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Separately, Wells Fargo & Company dropped their target price on shares of Hagerty from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Hagerty currently has an average rating of “Moderate Buy” and an average price target of $13.71.

Check Out Our Latest Report on Hagerty

Hagerty Trading Down 0.4%

Shares of HGTY stock opened at $10.02 on Friday. Hagerty has a 1 year low of $8.81 and a 1 year high of $14.00. The firm’s fifty day simple moving average is $10.65 and its 200 day simple moving average is $11.89. The firm has a market capitalization of $3.43 billion, a P/E ratio of 50.12 and a beta of 0.83. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.35.

Hagerty (NYSE:HGTY – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $284.88 million. As a group, sell-side analysts predict that Hagerty will post 0.27 EPS for the current year.

Insiders Place Their Bets

In other Hagerty news, Director Anthony J. Kuczinski purchased 4,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were purchased 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 of the company’s stock, valued at approximately $449,131.50. This represents a 9.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Laurie Harris sold 5,531 shares of Hagerty stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $11.01, for a total transaction of $60,896.31. Following the sale, the director owned 36,689 shares in the company, valued at $403,945.89. This represents a 13.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. 16.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Hagerty

Institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its holdings in Hagerty by 2,374.5% during 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 in the last quarter. BNP Paribas Financial Markets boosted its holdings in Hagerty by 165.3% during the third quarter. BNP Paribas Financial Markets now owns 5,131 shares of the company’s stock valued at $62,000 after purchasing an additional 3,197 shares in the last quarter. Bank of America Corp DE boosted 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 valued at $87,000 after purchasing an additional 2,726 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Hagerty during the fourth quarter valued at approximately $98,000. Finally, Arizona State Retirement System acquired a new stake in Hagerty during the third quarter valued at approximately $141,000. 20.51% of the stock is owned by institutional investors and hedge funds.

About Hagerty

(Get Free Report)

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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