Scholtz & Company LLC Makes New $2.43 Million Investment in Hagerty, Inc. $HGTY

by · The Markets Daily

Scholtz & Company LLC acquired a new position in Hagerty, Inc. (NYSE:HGTY – Free Report) during the second quarter, Holdings Channel.com reports. The firm acquired 240,290 shares of the company’s stock, valued at approximately $2,429,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc bought a new stake in shares of Hagerty in the 2nd quarter worth about $30,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Hagerty in the 1st quarter worth about $93,000. KLP Kapitalforvaltning AS increased its position in shares of Hagerty by 228.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the company’s stock worth $106,000 after purchasing an additional 7,300 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Hagerty in the 1st quarter worth about $108,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Hagerty by 24.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 37,383 shares of the company’s stock worth $338,000 after purchasing an additional 7,459 shares during the last quarter. Institutional investors and hedge funds own 20.51% of the company’s stock.

Hagerty Price Performance

Shares of NYSE:HGTY opened at $11.21 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.27. Hagerty, Inc. has a fifty-two week low of $8.03 and a fifty-two week high of $13.32. The firm has a 50-day simple moving average of $11.79 and a 200 day simple moving average of $10.51. The company has a market cap of $3.83 billion, a PE ratio of 56.03 and a beta of 0.92.

Hagerty (NYSE:HGTY – Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Hagerty had a net margin of 4.88% and a return on equity of 13.76%. The business had revenue of $368.70 million during the quarter, compared to the consensus estimate of $347.15 million. Hagerty has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Hagerty, Inc. will post 0.22 EPS for the current year.

Analyst Ratings Changes

HGTY has been the subject of several research analyst reports. Evercore ISI initiated coverage on shares of Hagerty in a research report on Wednesday, August 27th. They issued an “outperform” rating and a $14.00 target price for the company. Keefe, Bruyette & Woods initiated coverage on shares of Hagerty in a research report on Wednesday, August 27th. They issued an “outperform” rating and a $14.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Hagerty in a research report on Wednesday, October 8th. Citigroup initiated coverage on shares of Hagerty in a research report on Wednesday, October 1st. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Hagerty from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.88.

View Our Latest Stock Report on HGTY

Insider Transactions at Hagerty

In other Hagerty news, Director Robert I. Kauffman sold 1,455,000 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $8.92, for a total transaction of $12,978,600.00. Following the completion of the transaction, the director directly owned 1,721,662 shares of the company’s stock, valued at $15,357,225.04. The trade was a 45.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Holding Corp. Hagerty sold 8,245,000 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $8.92, for a total transaction of $73,545,400.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,633,821 shares of company stock valued at $105,120,074 over the last three months. 16.70% of the stock is currently owned by company insiders.

Hagerty Company Profile

(Free Report)

Hagerty, Inc provides insurance agency services worldwide. It offers motor vehicle and boat insurance products; and reinsurance products. The company provides Hagerty Media, which publishes contents through the Hagerty Drivers Club Magazine (HDC), video content, and social media channels; HDC that offers subscription based products and services, including HDC Magazine, automotive enthusiast events, proprietary vehicle valuation tools, emergency roadside services, and special vehicle-related discounts.

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