Professional
Added to YB: 2024-08-28
Pitch date: 2024-08-26
HGTY [bullish]
Hagerty, Inc.
+8.07%
current return
Author Info
Greenhaven Road is a boutique hedge fund with the patience and confidence to step outside of the norm. Visit their website.
Company Info
Hagerty, Inc. provides insurance services for collector cars and enthusiast vehicles in the United States.
Market Cap
$1.4B
Pitch Price
$12.02
Price Target
N/A
Dividend
N/A
EV/EBITDA
11.25
P/E
38.02
EV/Sales
1.33
Sector
Insurance
Category
value
Greenhaven Road Capital Main Fund Portfolio Holding: Hagerty, Inc.
HGTY: Classic car insurer w/ diverse ops: direct/partner insurance, reinsurance, marketplace, membership. GAAP financials misleading vs peers. Unique model w/ car shows for customer acquisition/retention. Markel owns 23%, State Farm invested $550M+. Undervalued due to complexity, misunderstood by market.
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