HGTY stock icon

Hagerty
HGTY

$11.46
2.39%

Market Cap: $1.03B

 

About: Hagerty Inc is a provider of specialty automotive insurance. The company underwrites, sells, and services classic car and enthusiast vehicle insurance policies. Substantial revenue is derived from Commission and fees. Geographically it serves Europe, Canada, and the United States.

Employees: 1,732

0
Funds holding %
of 6,686 funds
Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

285% more call options, than puts

Call options by funds: $131K | Put options by funds: $34K

21% more repeat investments, than reductions

Existing positions increased: 23 | Existing positions reduced: 19

16% more capital invested

Capital invested by funds: $639M [Q1] → $739M (+$100M) [Q2]

0.45% more ownership

Funds ownership: 82.47% [Q1] → 82.92% (+0.45%) [Q2]

0% more funds holding in top 10

Funds holding in top 10: 1 [Q1] → 1 (+0) [Q2]

4% less funds holding

Funds holding: 74 [Q1] → 71 (-3) [Q2]

23% less first-time investments, than exits

New positions opened: 10 | Existing positions closed: 13

Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target
$11
4%
downside
Avg. target
$11
4%
downside
High target
$11
4%
downside

2 analyst ratings

positive
0%
neutral
100%
negative
0%
Truist Securities
Mark Hughes
85% 1-year accuracy
53 / 62 met price target
4%downside
$11
Hold
Maintained
8 Aug 2024
JP Morgan
Pablo Singzon
100% 1-year accuracy
2 / 2 met price target
4%downside
$11
Neutral
Maintained
11 Jul 2024

Financial journalist opinion

Based on 6 articles about HGTY published over the past 30 days

Neutral
PRNewsWire
1 month ago
Hagerty Reports Second Quarter 2024 Results
Increases 2024 Outlook for Revenue and Profit Growth Second quarter 2024 Total Revenue increased 20% year-over-year to $313.2 million, and year-to-date 2024 Total Revenue increased 22% year-over-year to $584.9 million Second quarter 2024 Written Premium increased 16% year-over-year to $321.2 million, and year-to-date 2024 Written Premium increased 18% year-over-year to $539.5 million Second quarter 2024 Operating Income margin expanded by 560 bps compared to the prior year period, and year-to-date 2024 Operating Income margin expanded by 840 bps compared to the prior year period Second quarter 2024 Net Income of $42.7 million, an increase of $27.1 million compared to the prior year period, and year-to-date 2024 Net Income of $50.9 million, an increase of $50.3 million compared to the prior year period Second quarter 2024 Adjusted EBITDA of $53.1 million, an increase of $18.7 million compared to the prior year period, and year-to-date 2024 Adjusted EBITDA of $80.4 million, an increase of $39.4 million compared to the prior year period Delivered Policies in Force Retention of 89% and maintained a Net Promoter Score of 82 Increased 2024 growth outlook for Total Revenue to 16-18%, Written Premium of 14-15%, Net Income of 170-198% and Adjusted EBITDA of 47-59% Completed warrant exchange offer and mandatory exchange in July 2024, whereby the Company issued 3.9 million shares of Class A Common Stock in exchange for 19.5 million warrants TRAVERSE CITY, Mich. , Aug. 6, 2024 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY), an automotive enthusiast brand and leading specialty vehicle insurance provider, announced today financial results for the three and six months ended June 30, 2024.
Hagerty Reports Second Quarter 2024 Results