HomeBoat InsuranceHagerty (NYSE:HGTY) Provides Earnings Guidance for FY 2022

Hagerty (NYSE:HGTY) Provides Earnings Guidance for FY 2022

Hagerty (NYSE:HGTY) updated its performance projections for the upcoming fiscal year on Saturday morning. The company’s estimated EPS for the relevant period ranged from -$0.19 to $0.16, which was different from the average estimate of -$0.16. The company offered revenue guidance of $767.00 million to $792.00 million, which is lower than the average revenue prediction of $773.25 million.

On October 20, Raymond James started writing a research note about Hagerty. The stock received a “market perform” rating from them.
The opening price of the Hagerty stock on Friday was $8.15. The business has a market value of $2.72 billion, a PE ratio of -14.30, and a beta of 0.58. Over the previous year, Hagerty experienced a high of $19.97 and a low of $7.23. The debt-to-equity, quick, and current ratios for the company are each 0.35, 1.46, and 1.46, respectively. The stock’s fifty-day simple moving average is $8.85, and its 200-day simple moving average is $10.40.
Institutional investors’ and hedge funds’ current ownership stakes in the company have lately altered. Citigroup Inc. increased its stake in Hagerty by roughly $61,000 during the first quarter. Legal & General Group Plc acquired more shares of Hagerty for about $71,000 during the second quarter. Tower Research Capital LLC (TRC) increased its holding in Hagerty by about $88,000 during the third quarter. JPMorgan Chase & Co. purchased more Hagerty shares for $119,000 during the second quarter. Last but not least, for about $128,000 during the first quarter, Raymond James & Associates purchased more shares of Hagerty. Institutional investors and hedge funds own 19.77% of the company’s stock.

Hagerty, Inc. provides services to foreign insurance companies.Along with solutions for car and boat insurance, it offers options for reinsurance. The business also provides HDC, which provides subscription-based services and products like HDC Magazine, automotive enthusiast events, special discounts on vehicles, and roadside assistance, and Hagerty Media, which disseminates materials via the HDC Magazine, video content, and YouTube channel. It also provides HVT, a vehicle valuation tool that enables users to access current and historical pricing data for classic cars, trucks, and other vehicles.

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