Polen Capital: “Goosehead (GSHD) Continues to Deliver Results Ahead of Expectations”
Polen Capital, an investment management firm, released its "U.S. Small Company Growth Fund" third quarter 2023 investor letter, a copy of which can be downloaded here. In the third quarter, the U.S. Small Company Growth Composite Portfolio, referred to as the "Portfolio," posted returns of -3.66% gross and -3.97% net of fees. This performance is in contrast to the -7.32% return of the Russell 2000 Growth Index, known as the "Index." Take a moment to review the fund's top 5 holdings to gain insights into their primary investment choices for 2023.
In its Q3 2023 investor letter, Polen U.S. Small Company Growth mentioned Goosehead Insurance, Inc (NASDAQ:GSHD) and explained its insights for the company. Goosehead Insurance, Inc (NASDAQ:GSHD) is a Westlake, Texas-based insurance company with a $2.6 billion market capitalization. Goosehead Insurance, Inc (NASDAQ:GSHD) delivered a 107.11% return since the beginning of the year, while its 12-month returns are up by 94.42%. The stock closed at $71.12 per share on November 3, 2023.
Here is what Polen U.S. Small Company Growth has to say about Goosehead Insurance, Inc (NASDAQ:GSHD) in its Q3 2023 investor letter:
"Goosehead Insurance operates as a personal line insurance brokerage, pioneering a disruptive business model swiftly seizing market share from conventional independent and captive broker models. The company continues to deliver results ahead of expectations, underpinned by compelling pricing, enhanced agent productivity, and improved margins. We are particularly impressed by the company's adept execution and its capacity to achieve substantial cost efficiencies, which we believe are sustainable in the long term."
A homeowner happily smiling while holding a copy of their new insurance policy.
Our calculations show that Goosehead Insurance, Inc (NASDAQ:GSHD) does not belong on our list of the 30 Most Popular Stocks Among Hedge Funds. Goosehead Insurance, Inc (NASDAQ:GSHD) was in 19 hedge fund portfolios at the end of the second quarter of 2023, compared to 20 funds in the previous quarter. Goosehead Insurance, Inc (NASDAQ:GSHD) delivered a 6.98% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q3 2023 page.
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Disclosure: None. This article is originally published at Insider Monkey.
