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Hagerty, Inc. - HGTY STOCK NEWS

Welcome to our dedicated page for Hagerty news (Ticker: HGTY), a resource for investors and traders seeking the latest updates and insights on Hagerty stock.

Hagerty, Inc. (NYSE: HGTY) is a globally recognized automotive enthusiast brand, deeply rooted in the car culture with a mission to save driving for future generations. Established initially as a niche insurance agency focusing on collector cars, Hagerty has grown into the world’s largest membership organization for car lovers. The company's offerings include specialty automotive insurance, car valuation data and insights, live and digital car auction services, and a suite of immersive events catering to car enthusiasts.

Hagerty's core business revolves around providing specialty automotive insurance, underwriting, selling, and servicing policies for classic cars and enthusiast vehicles. The majority of its revenue comes from commissions and fees, and it serves customers in Europe, Canada, and the United States.

Key to Hagerty’s appeal is its Hagerty Drivers Club, which boasts over 800,000 members globally. The club offers integrated membership products and unique programs that create engaging experiences for car lovers. Events like the Greenwich Concours d’Elegance and the California Mille, alongside media and valuation services, further cement Hagerty's position in the automotive community.

Hagerty is also notable for its extensive media presence, providing automotive content through various channels including the recently launched Hagerty Media on Samsung TV Plus, reaching millions of viewers with original programming.

Financially, Hagerty has demonstrated robust growth, achieving over $1 billion in revenue in 2023, with expectations of continued strong performance in 2024. The company’s strategic focus on efficiency and expanding its product offerings has resulted in significant profitability improvements. Hagerty is also actively involved in community and environmental initiatives, embodying a purpose-driven approach to its business operations.

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The Detroit Concours is returning to the Motor City on September 22-23, featuring a two-day event celebrating automotive Americana. The event will include car culture experiences, automotive activities for all ages, and a show field with 150 rare vehicles. Tickets can be purchased for both days, and children 15 and under will be admitted for free.
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On May 15, Hagerty Marketplace will launch its first-ever private collection sale, featuring the Retro Motors Collection, which includes over 30 American muscle and high-powered European sports cars. This rolling auction format will open bidding daily, allowing collectors to purchase meticulously inspected vehicles. Highlights include a 2020 Chevrolet Corvette, a 2006 Ford GT, and a 2008 Ferrari F430 Spider. The auction aims to attract enthusiasts by offering high-quality vehicles, with the entire collection cataloged by specialists. More details and bidder registration can be found at hagerty.com/marketplace.

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Hagerty, Inc. (NYSE: HGTY), an automotive lifestyle brand and specialty insurance provider, is set to report its first quarter 2023 financial results on May 9, 2023, before market opening. A conference call will follow at 10:00 am Eastern Time to discuss the results, with a live webcast available on Hagerty's investor relations website.

Hagerty serves the automotive enthusiast market, providing specialty vehicle insurance and expert car valuation data. The company operates in the U.S., Canada, and the UK, and has a community of 750,000 car enthusiasts. Hagerty is dedicated to preserving car culture for future generations while promoting positive change through its Hagerty Impact initiative.

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Hagerty, headquartered in Traverse City, Michigan, has announced $46,000 in quarterly corporate giving grants to support local organizations focused on environmental stewardship, entrepreneurship, and community resilience. This initiative is part of Hagerty's broader commitment, having donated over $5.5 million to local nonprofits since its inception. Organizations receiving grants include Paddle Antrim, Discovery Center Great Lakes, Northwest Food Coalition, Stand Up For Great Lakes, and Traverse Area Recreation Trail. The company's Vice President of Brand Strategy, Kory Felker, emphasized the importance of these initiatives in enhancing the quality of life in the Grand Traverse region. For more details on applying for grants, visit the Hagerty Corporate Giving page.

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FAQ

What is the current stock price of Hagerty (HGTY)?

The current stock price of Hagerty (HGTY) is $10.41 as of December 20, 2024.

What is the market cap of Hagerty (HGTY)?

The market cap of Hagerty (HGTY) is approximately 953.4M.

What is Hagerty, Inc.?

Hagerty, Inc. is an automotive enthusiast brand and a leading provider of specialty vehicle insurance, car valuation data, and immersive events aimed at car lovers.

What services does Hagerty offer?

Hagerty offers specialty automotive insurance, car valuation data and insights, live and digital car auction services, and various immersive events for car enthusiasts.

What is the Hagerty Drivers Club?

The Hagerty Drivers Club is a community with over 800,000 members that provides integrated membership products and unique automotive experiences worldwide.

Where does Hagerty operate?

Hagerty operates in Europe, Canada, and the United States, catering to car enthusiasts globally.

How does Hagerty generate revenue?

Hagerty generates revenue primarily through commissions and fees from underwriting, selling, and servicing specialty automotive insurance policies.

What recent achievements has Hagerty announced?

Hagerty recently surpassed $1 billion in revenue for 2023 and launched Hagerty Media content on Samsung TV Plus, extending its media reach.

What is Hagerty’s mission?

Hagerty’s mission is to save driving and fuel car culture for future generations by building a global business that offers comprehensive automotive enthusiast services.

What types of events does Hagerty host?

Hagerty hosts a variety of automotive events including the Greenwich Concours d’Elegance, the California Mille, and auctions through Broad Arrow Auctions.

How has Hagerty performed financially?

Hagerty has shown strong financial performance, with a reported revenue growth of 27% in 2023 and significant improvements in profitability.

What is Hagerty Impact?

Hagerty Impact is an initiative aimed at driving positive change on environmental and community issues that matter to its members and the broader automotive community.

Hagerty, Inc.

NYSE:HGTY

HGTY Rankings

HGTY Stock Data

953.44M
81.69M
8.99%
82.35%
0.36%
Insurance - Property & Casualty
Insurance Agents, Brokers & Service
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United States of America
TRAVERSE CITY