Here’s How Goosehead Insurance (GSHD) Delivered Strong Performance Despite Housing Market Weakness
Polen Capital, an investment management company, released its “Polen U.S. Small Company Growth Strategy” first-quarter investor letter. A copy of the same can be downloaded here. In the first quarter, the fund delivered 10.81% net of fees compared to a 6.07% return for the Russell 2000 Growth Index. At the beginning of the quarter, the market witnessed growing possibilities but later, the collapse of banks and ensuing concerns affected the market. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Polen U.S. Small Company Growth Strategy highlighted stocks like Goosehead Insurance, Inc (NASDAQ:GSHD) in the first quarter 2023 investor letter. Headquartered in Westlake, Texas, Goosehead Insurance, Inc (NASDAQ:GSHD) is a US-based insurance agency services provider. On April 26, 2023, Goosehead Insurance, Inc (NASDAQ:GSHD) stock closed at $53.73 per share. One-month return of Goosehead Insurance, Inc (NASDAQ:GSHD) was 5.64%, and its shares lost 12.23% of their value over the last 52 weeks. Goosehead Insurance, Inc (NASDAQ:GSHD) has a market capitalization of $2.04 billion.
Alphyn Capital Management made the following comment about Goosehead Insurance, Inc (NASDAQ:GSHD) in its Q1 2023 investor letter:
"The top contributors to the Portfolio’s relative performance in the first quarter included Goosehead Insurance, Inc (NASDAQ:GSHD), Duck Creek Technologies and Altair Engineering. These were also the top contributors on an absolute basis. Goosehead and Duck Creek were two of our worst performers in 2022, despite strong fundamentals, highlighting the significant disconnect between stock prices and fundamental performance last year.
Goosehead Insurance, a personal line P&C insurance brokerage primarily focused on home and auto markets, has continued to deliver strong results despite weakness in the housing market. The company continues to show that they are among the best operators in a difficult macro environment, leaning into its value propositions around great customer service and a better agent experience and kicking off thoughtful, value-add strategic growth programs."
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Goosehead Insurance, Inc (NASDAQ:GSHD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 16 hedge fund portfolios held Goosehead Insurance, Inc (NASDAQ:GSHD) at the end of the fourth quarter which was 22 in the previous quarter.
We discussed Goosehead Insurance, Inc (NASDAQ:GSHD) in another article and shared Polen Capital's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
