Hagerty Holding Corp. sold $122.0M of HGTY

Hagerty Holding Corp. (HGTY) stock fell 9.8% in pre-market trading after pricing a 9.25 million share secondary offering at $11.95 per share, a discount to its prior close. The sale, conducted by a selling stockholder, will not benefit the company. The broader market showed little support, with the S&P 500 flat, Dow Jones slightly positive, and Nasdaq modestly lower.

Hagerty, Inc. (NYSE: HGTY) announced an upsized secondary offering of 9.25M shares of Class A Common Stock at $11.95 per share, with an option for underwriters to purchase 1.39M additional shares. The offering, expected to close on September 11, 2026, is being conducted by Hagerty Holding Corp. Proceeds will be used for share redemption, not benefiting Hagerty directly.

Hagerty, Inc. (NYSE: HGTY) announced a secondary offering of 8.25 million shares of its Class A Common Stock by Hagerty Holding Corp. The Selling Stockholder may also grant underwriters an option to purchase an additional 1.24 million shares. Hagerty will not receive proceeds from this sale, which will be used to redeem HHC shares for the Kim Hagerty Revocable Trust. Wells Fargo Securities and J.P. Morgan are leading the offering.

Hagerty stock fell 2.3% in after-hours trading after its parent, Hagerty Holding Corp., announced a secondary offering of 8.25 million shares, with no proceeds going to the company. The stock had recently traded near its 52-week high following strong Q2 2026 earnings. Analysts maintain a positive outlook, but the offering introduces near-term supply pressure.

Hagerty, Inc. (NYSE:HGTY) shares fell 2.3% after hours Wednesday following a plan to sell 8.25 million Class A shares in a secondary offering. The selling stockholder may also grant a 30-day option for additional shares. Hagerty will not receive proceeds, and the funds will be used for a redemption by the Kim Hagerty Revocable Trust. Wells Fargo and J.P. Morgan are lead managers.

Hagerty, Inc. (NYSE: HGTY) reported second quarter and first-half 2026 results, citing record member and premium growth and an increased 2026 outlook. First-half written premium rose 19% to $713 million and earned premium rose 42% to $492 million. Net loss was $5 million, including $153 million of Markel Fronting transitional costs. Adjusted EBITDA rose 32% to $160 million; 2026 guidance: written premium growth 16% to 17%, net income $18 to $30 million, and adjusted EBITDA $270 to $280 million.