---
title: "BUZZ-Auto insurer Hagerty drops after announcing secondary offering"
description: "Shares of Hagerty Inc, a specialty vehicle insurance provider, fell 6.4% to $10.22 in after-hours trading following the announcement of a secondary offering. Existing stockholders Hagerty Holding Corp"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/251909450.md"
published_at: "2025-08-06T21:53:42.000Z"
---

# BUZZ-Auto insurer Hagerty drops after announcing secondary offering

> Shares of Hagerty Inc, a specialty vehicle insurance provider, fell 6.4% to $10.22 in after-hours trading following the announcement of a secondary offering. Existing stockholders Hagerty Holding Corp and Aldel LLC plan to sell 8.7 million shares. The company has approximately 342 million shares outstanding and a market cap of $3.7 billion. Analysts have mixed ratings on the stock, with two holding and one selling, and a median price target of $11. Hagerty went public in December 2021 via a SPAC deal.

Shares of specialty vehicle insurance provider Hagerty Inc (HGTY.N) down 6.4% in extend

ed trading to $10.22 after secondary offering news

Michigan-based firm existing stockholders Hagerty Holding Corp (HHC) and Aldel LLC to sell 8.7 mln shares

KBW and JP Morgan are lead bookrunning managers for the offering

Co has ~342 mln shares outstanding for $3.7 bln market cap and ~84.3 mln shares of public float, per LSEG data

HGTY shares on Weds ended down 1.8% at $10.92, up 13% YTD

2 analysts rate stock “hold”, the other rates “sell” and median PT is $11, per LSEG

Hagerty, which provides insurance coverage for collectible cars, went public in Dec 2021 after completing SPAC deal with Aldel (Lance Tupper is a Reuters market analyst. The views expressed are his own)

### Related Stocks

- [HGTY.US - Hagerty](https://longbridge.com/en/quote/HGTY.US.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.