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The sales were part of a pre-established trading plan, which allows insiders to sell a predetermined number of shares at set intervals. While trading at a relatively high P/E ratio of 105, the stock's technical indicators and valuation metrics present an interesting investment case, fully analyzed in the comprehensive Pro Research Report available on InvestingPro. While trading at a relatively high P/E ratio of 105, the stock's technical indicators and valuation metrics present an interesting investment case, fully analyzed in the comprehensive Pro Research Report available on InvestingPro.
The sales were part of a pre-established trading plan, which allows insiders to sell a predetermined number of shares at set intervals. While trading at a relatively high P/E ratio of 105, the stock's technical indicators and valuation metrics present an interesting investment case, fully analyzed in the comprehensive Pro Research Report available on InvestingPro.
The sales were part of a pre-established trading plan, which allows insiders to sell a predetermined number of shares at set intervals.
In other recent news, Hagerty Inc. has been the subject of an analyst downgrade and reported substantial growth in its Q3 2024 earnings call. Raymond (NS:RYMD) James analysts downgraded Hagerty's stock rating from Market Perform to Underperform, citing concerns about the company's valuation. Despite recognizing Hagerty's strong position in the classic and collectible vehicles market, the analysts believe the company's financial metrics are being valued more richly than those of its peers.
In contrast, Hagerty reported a 20% surge in total revenue during Q3 2024, reaching $323 million, and a 16% growth in written premium for the year, despite industry challenges and losses from Hurricane Helene. The company anticipates a total revenue of approximately $1.18 billion for 2024, with a projected net income between $65 million and $74 million.
In addition to these financial developments, Hagerty plans to launch its Enthusiast Plus business in early 2025. These recent developments highlight the company's commitment to enhancing member experience amid industry challenges. The company's financial performance and future plans reflect its resilience and adaptability in a dynamic market environment.
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