Professional
Added to YB: 2022-10-01
Pitch date: 2022-10-01
HGTY [bullish]
Hagerty, Inc.
+45.06%
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
$8.90
Price Target
N/A
Dividend
N/A
EV/EBITDA
11.25
P/E
38.02
EV/Sales
1.33
Sector
Insurance
Category
growth
Greenhaven Road New Position - Hagerty Inc (HGTY)
HGTY: Hagerty insures classic/collectible cars with 41% loss ratio vs 70%+ industry avg. 90%+ retention, low customer acquisition cost via content/events. Owns 2nd largest car mag, YouTube channel w/ 2M subs. HagertyRe reinsurance earns 30-40% ROI. 2023 catalysts: 470K State Farm policies onboarded, Markel rev share +10%. Building marketplace for $12B in classic car sales. Screens expensive but 30%+ growth expected.
Read full article (9 min)