Hagerty: An Overlooked, Fast Growing Niche Insurance Stock [Seeking Alpha]
Hagerty, Inc. Class A (HGTY)
Company Research
Source: Seeking Alpha
The company's combined ratio, as a measure of profitability, is better than its peers. Hagerty's unique business model and strong fundamentals make it a compelling choice for potential investors, despite concerns about its complex equity structure. Hagerty, Inc ( NYSE: HGTY ) is a multi-faceted automotive lifestyle brand, with a core offering of providing insurance service for vintage and classic cars. Since becoming a publicly traded company through SPAC in December 2021, Hagerty has seen consistent growth. Third quarter 2023 total revenue increased 27% to $275.6 million compared to the prior year period. While insurance brings in the most revenue (around 90% of total revenue), Hagerty's membership program, online marketplace, and other exclusive entertainment contents are rapidly growing, contributing 37% more revenue year-over-year. Adjusted EBITDA for the third quarter 2023 was $37.4 million, compared to the negative $10 million in the prior year period. Net income did de
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HGTY
News
- Esteemed Contemporary Architect Steven Harris Named Grand Marshal of Greenwich Concours d'ElegancePR Newswire
- Hagerty to Report First Quarter 2024 Results and Host Conference Call on Tuesday, May 7, 2024PR Newswire
- Mobil 1™ Announced as Title Sponsor of RADwood 2024 and New Mobil 1 Totally RAD Live Festival ExperiencePR Newswire
- Hagerty Celebrates 40 Years of Cars, Culture and Community with "Keepers of the Flame" Campaign Honoring Car LovePR Newswire
- Broad Arrow Announces Continued Expansion into the UK and EU with the Addition of Five New Team Members, including Veteran Car Specialists Joe Twyman and Robert Glover [Yahoo! Finance]Yahoo! Finance
HGTY
Earnings
- 3/12/24 - In-Line
HGTY
Sec Filings
- 4/26/24 - Form 3
- 4/26/24 - Form DEFA14A
- 4/25/24 - Form ARS
- HGTY's page on the SEC website