Hagerty (HGTY) to Release Quarterly Earnings on Thursday

Hagerty (NYSE:HGTY) is scheduled to issue its quarterly earnings data before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of $0.08 per share for the quarter. Hagerty has set its FY 2024 guidance at EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Hagerty (NYSE:HGTY) last issued its earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. The company had revenue of $313.23 million during the quarter, compared to analysts’ expectations of $312.64 million. On average, analysts expect Hagerty to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Hagerty Price Performance

Shares of Hagerty stock opened at $10.81 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. Hagerty has a one year low of $7.63 and a one year high of $12.35. The business’s 50 day simple moving average is $10.96 and its two-hundred day simple moving average is $10.35. The stock has a market capitalization of $3.68 billion, a P/E ratio of 90.08 and a beta of 0.79.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HGTY. JPMorgan Chase & Co. lifted their target price on shares of Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Truist Financial boosted their price objective on shares of Hagerty from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Thursday, August 8th.

Insiders Place Their Bets

In other news, Director Robert I. Kauffman sold 14,507 shares of Hagerty stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $11.84, for a total value of $171,762.88. Following the sale, the director now directly owns 5,234,306 shares in the company, valued at approximately $61,974,183.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert I. Kauffman sold 14,507 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $11.84, for a total value of $171,762.88. Following the completion of the sale, the director now directly owns 5,234,306 shares of the company’s stock, valued at approximately $61,974,183.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert I. Kauffman sold 12,152 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $10.37, for a total transaction of $126,016.24. Following the transaction, the director now owns 5,379,341 shares in the company, valued at $55,783,766.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,864 shares of company stock worth $1,487,285. 17.90% of the stock is currently owned by company insiders.

About Hagerty

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.