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Robert Kauffman, a director at Hagerty , Inc. (NYSE:HGTY), recently sold shares worth approximately $94,296, according to a regulatory filing. The transactions, executed under a Rule 10b5-1 trading plan, took place over three consecutive days, from February 11 to February 13, 2025. The $3.41 billion market cap company has shown strong momentum, with shares up 22.88% over the past year.
The sales involved a total of 9,298 shares of Hagerty’s Class A common stock. The shares were sold at prices ranging from $10.09 to $10.22 per share. Following these transactions, Kauffman, through Aldel LLC, retains ownership of approximately 4,299,663 shares. According to InvestingPro analysis, Hagerty is currently trading below its Fair Value, with analysts expecting net income growth this year.
These transactions were part of a pre-established trading plan, which allows insiders to sell a predetermined amount of stock at set intervals, often to diversify their holdings or for other personal financial planning reasons. InvestingPro data shows the company maintains a GOOD financial health score, with 6 additional key insights available to subscribers through detailed Pro Research Reports.
In other recent news, Hagerty Inc. has seen a shift in its stock rating due to concerns over its valuation. Raymond (NSE:RYMD) James analysts have downgraded the company’s stock from Market Perform to Underperform despite acknowledging Hagerty’s leadership in the classic and collectible vehicles marketplace. The firm expects robust top-line growth for Hagerty by 2025, propelled by strategic partnerships and an expanding membership base.
The analysts noted that Hagerty’s stock is trading at approximately 34 times their estimated earnings per share (EPS) for 2025, a valuation significantly higher than the industry average. This valuation discrepancy was a deciding factor in the downgrade. Hagerty’s estimated enterprise value to earnings before interest, taxes, depreciation, and amortization (EV/EBITDA) ratio for 2025 is also higher than its peers, further contributing to the downgrade decision.
Despite the positive business growth outlook for Hagerty, Raymond James analysts suggest the stock’s pricing may be ahead of its market comparables. These recent developments serve as a note of caution for investors regarding the stock’s pricing in the context of the broader industry.
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