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Should Investors Buy Hagerty (NYSE: HGTY) As Garner Asset Management Opens a $3 Million Position in the Stock?

The Motley Fool Logo The Motley Fool By Josh Kohn-Lindquist
Should Investors Buy Hagerty (NYSE: HGTY) As Garner Asset Management Opens a $3 Million Position in the Stock?

Garner Asset Management acquired 281,825 shares of Hagerty, representing a $3.39 million investment and 1.37% of its reportable assets. The stock is a specialty insurance provider for automotive and boating enthusiasts with strong growth potential.

Insights
UPS   neutral

High 7% dividend yield with potential sustainability concerns, ongoing cost-saving and automation efforts to improve profitability


HGTY   positive

Strong 25% five-year revenue CAGR, global leadership in classic vehicle insurance, diversified business model with high Net Promoter Score, and partnerships with major insurers