Fintel reports that on June 16, 2023, Truist Securities initiated coverage of Hagerty Inc – (NYSE:HGTY) with a Hold recommendation.
Analyst Price Forecast Suggests 58.88% Upside
As of June 2, 2023, the average one-year price target for Hagerty Inc – is 15.30. The forecasts range from a low of 15.15 to a high of $15.75. The average price target represents an increase of 58.88% from its latest reported closing price of 9.63.
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The projected annual revenue for Hagerty Inc – is 948MM, an increase of 13.12%. The projected annual non-GAAP EPS is -0.06.
What is the Fund Sentiment?
There are 102 funds or institutions reporting positions in Hagerty Inc -. This is a decrease of 6 owner(s) or 5.56% in the last quarter. Average portfolio weight of all funds dedicated to HGTY is 0.16%, a decrease of 8.85%. Total shares owned by institutions increased in the last three months by 2.30% to 70,026K shares. The put/call ratio of HGTY is 0.08, indicating a bullish outlook.
What are Other Shareholders Doing?
State Farm Mutual Automobile Insurance holds 50,000K shares representing 59.26% ownership of the company. No change in the last quarter.
Polar Capital Holdings holds 4,582K shares representing 5.43% ownership of the company. In it’s prior filing, the firm reported owning 4,526K shares, representing an increase of 1.21%. The firm decreased its portfolio allocation in HGTY by 3.80% over the last quarter.
Neuberger Berman Group holds 2,321K shares representing 2.75% ownership of the company. In it’s prior filing, the firm reported owning 1,679K shares, representing an increase of 27.69%. The firm decreased its portfolio allocation in HGTY by 30.58% over the last quarter.
Granahan Investment Management holds 1,276K shares representing 1.51% ownership of the company. In it’s prior filing, the firm reported owning 1,593K shares, representing a decrease of 24.87%. The firm decreased its portfolio allocation in HGTY by 17.18% over the last quarter.
NBGNX – Neuberger Berman Genesis Fund Investor Class holds 1,186K shares representing 1.41% ownership of the company. In it’s prior filing, the firm reported owning 386K shares, representing an increase of 67.43%. The firm increased its portfolio allocation in HGTY by 204.82% over the last quarter.
Hagerty Background Information
(This description is provided by the company.)
Based in Traverse City, Michigan, Hagerty’s purpose is to save driving and preserve car culture for future generations and its mission is to build a global business to fund that purpose. Hagerty is home to Hagerty Drivers Club, Hagerty DriveShare, Hagerty Valuation Tools, Hagerty Media, Hagerty Drivers Club magazine, MotorsportReg, Hagerty Garage + Social, the Amelia Island Concours d’Elegance, the Concours d’Elegance of America, the Greenwich Concours d’Elegance, the California Mille, Motorworks Revival and more.
Key filings for this company:
This story originally appeared on Fintel.
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