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David

Managing Director and Senior Equity Research Analyst at JMP Securities

David Turkaly is a Managing Director and Senior Equity Research Analyst at Citizens JMP Securities, specializing in healthcare sector coverage with a focus on companies such as STERIS. He has rated 34 stocks and is recognized for delivering a high volume of actionable investment recommendations, with a 41% success rate and an average return of -2.60% per transaction according to TipRanks data. Turkaly began his analyst career before joining JMP Securities, where he has maintained a visible presence in equity research since at least 2017, having prior experience at other financial institutions. He holds multiple professional securities licenses and is registered with FINRA, consistently leveraging his industry expertise for institutional clients.

David's questions to Hagerty (HGTY) leadership

David's questions to Hagerty (HGTY) leadership • Q1 2025

Question

David of JMP Securities, on for Matt Carletti, asked about the potential impact of tariffs on Hagerty's business and recent trends in customer shopping behavior.

Answer

CFO Patrick McClymont stated that the impact from tariffs is expected to be muted, as parts supply chains are diverse and vehicles over 25 years old are exempt from new rules. He also noted that while quote volume remains strong, new business growth was slightly slower than planned due to weather and other factors, but is expected to accelerate in the second half of the year, driven by the State Farm partnership.

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