Hagerty: Shrugging Off The Secondary And Hitting New Highs

Summary Hagerty is rated a buy, with accelerating fundamentals, strong written premium growth, and a technical breakout despite messy GAAP numbers from a reinsurance transition. Written premium grew 19% in H1, adjusted EBITDA rose 32% to $160M, and management raised full-year guidance twice, signaling robust underlying business momentum. The Markel transition distorts GAAP results, but these effects should roll off by 2027, making written premium, policies in force, and adjusted EBITDA the key metrics to monitor. Valuation is attractive on EV/Sales (0.81x vs. 2.95x sector median), with consensus EPS growth expected to rapidly compress forward multiples as accounting noise clears. Joe Morris/iStock Editorial via Getty Images Investment Thesis I rate Hagerty ( HGTY ) a buy. Shares closed at $13.94 on September 18, a fresh leg higher after hitting a new 52-week high of $14.17 a few days earlier. The stock is up roughly 50% from This article was written by The Market Auditor 34 Followers Follow I am a Certified Public Accountant (CPA) with over 30 years of personal investing experience and a corporate finance background with three Fortune 500 companies. I hold a Bachelor's in Finance and Accounting and an MBA.My investing approach centers on identifying stocks poised for significant moves — both long and short. I primarily focus on swing and momentum trading, using technical and fundamental analysis to find setups with strong risk/reward profiles. That said, I'm not rigidly short-term; when a position continues to perform, I'm comfortable holding it long term and letting the thesis play out. I don't limit my research to any specific sector or industry — if the opportunity is compelling, I'll follow it wherever it leads. I write about stocks I'm genuinely passionate about: names I'm actively researching, currently holding, or seriously considering. That personal stake keeps my analysis honest and grounded in real conviction rather than surface-level coverage. My motivation for contributing to Seeking Alpha is twofold. First, I want to help fellow investors identify actionable opportunities they might otherwise overlook. Second, I believe that the discipline of writing analysis makes me a sharper investor — and I'm committed to continuing to grow in both areas. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in HGTY over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.