Hagerty Inc Class A (HGTY)

In the past six months, Hagerty's stock was impacted by its Q1 2026 earnings report and a significant accounting transition. On May 6, 2026, Hagerty reported an adjusted loss of $0.04 per share for Q1 2026, matching analyst expectations, with revenue down 5% year-over-year to $311.8 million. Despite the GAAP loss, Hagerty reported strong underlying business growth, with written premiums increasing 18% to $289 million and policies in force growing 15% to 1.8 million, including a record 112,000 new policies. The company reaffirmed its full-year 2026 outlook, anticipating 15-16% written premium growth, adjusted EBITDA between $236 million and $247 million, and a GAAP net loss of $41 million to $51 million. Hagerty's partnership with State Farm also continues to expand, with expectations of 19,000 State Farm agents selling Hagerty products across 40 states by year-end 2026. Following the Q1 2026 earnings release, HGTY stock traded up 2.2%, though it had been hovering near its 52-week low of $8.81 in early May 2026.

Hagerty's business experiences seasonality, particularly in its insurance segment, which caters to collector vehicles. The classic car driving season typically gets underway in the first quarter, which is historically the weakest seasonal period for new policy additions. Management has explicitly stated that the business is seasonal and that expenses are expected to ramp up throughout the year.

Hagerty, Inc. is an American automotive lifestyle and membership company, and the world's largest provider of specialty insurance for classic vehicles, operating in the Financials sector. Its core business involves underwriting, selling, and servicing insurance policies for collector cars and enthusiast vehicles. Beyond insurance, Hagerty offers a comprehensive automotive enthusiast platform, including Hagerty Drivers Club memberships, marketplace services, DriveShare, and Hagerty Garage + Social.

Hagerty, Inc. is headquartered in Traverse City, Michigan, United States, and has an international presence, operating in Canada, Germany, and the United Kingdom. Its Hagerty Garage + Social facilities are located in various cities, including Miami, Toronto, Van Nuys, Seattle, Chicago, Bedford Hills (NY), Delray Beach, Palm Beach, and Culver City (CA).

In the past year, Hagerty has maintained a strong brand reputation, positioning itself as "the world's most loved automotive enthusiast brand". The company boasts a high customer retention rate of 89% and an exceptional Net Promoter Score (NPS) of 82. No specific negative events directly impacting Hagerty's brand reputation within the May 2025 to May 2026 period were prominently reported.

Hagerty's ownership structure is a blend of family control and significant institutional investment. The founding family, through Hagerty Holding Corp. (HHC), maintains over 50% of the company's total voting control. Major institutional owners of Hagerty, Inc. include State Farm Mutual Automobile Insurance Co., Neuberger Berman Group LLC, Vanguard Group Inc., Markel Group Inc., Polar Capital Holdings Plc, Greenhaven Road Investment Management, L.P., Pembroke Management, LTD, T. Rowe Price Investment Management, Inc., and BlackRock, Inc.