Hagerty (NYSE:HGTY – Free Report) had its price target raised by JPMorgan Chase & Co. from $9.50 to $11.00 in a research report sent to investors on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.
Hagerty Stock Performance
HGTY stock opened at $10.97 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.47 and a quick ratio of 1.47. Hagerty has a 1 year low of $7.52 and a 1 year high of $11.47. The company has a market cap of $3.69 billion, a P/E ratio of 182.86 and a beta of 0.80. The stock’s fifty day moving average price is $9.85 and its 200-day moving average price is $8.96.
Hagerty (NYSE:HGTY – Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Hagerty had a return on equity of 6.35% and a net margin of 1.82%. The business had revenue of $271.71 million during the quarter, compared to the consensus estimate of $264.32 million. On average, equities analysts forecast that Hagerty will post 0.21 earnings per share for the current year.
Insider Activity at Hagerty
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Hagerty by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock valued at $18,559,000 after buying an additional 21,331 shares during the last quarter. Meixler Investment Management Ltd. increased its position in Hagerty by 21.2% in the first quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after purchasing an additional 4,250 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in Hagerty during the first quarter valued at $3,473,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in Hagerty by 34.7% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after purchasing an additional 26,600 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC purchased a new position in shares of Hagerty in the 4th quarter worth $132,000. Hedge funds and other institutional investors own 20.51% of the company’s stock.
Hagerty Company Profile
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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