Should You Still Hold Goosehead Insurance (GSHD) Stock?

Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. The portfolio returned 1.44% net of fees in the third quarter compared to -0.12% return for the Russell 2500 Growth Index. Stock selection is a significant factor in the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Polen Capital discussed stocks like Goosehead Insurance, Inc (NASDAQ:GSHD) in the Q3 2022 investor letter. Headquartered in Westlake, Texas, Goosehead Insurance, Inc (NASDAQ:GSHD) is a US-based insurance agency services provider. On October 26, 2022, Goosehead Insurance, Inc (NASDAQ:GSHD) stock closed at $34.96 per share. One-month return of Goosehead Insurance, Inc (NASDAQ:GSHD) was -2.75% and its shares lost 76.33% of their value over the last 52 weeks. Goosehead Insurance, Inc (NASDAQ:GSHD) has a market capitalization of $1.358 billion.

Polen Capital made the following comment about Goosehead Insurance, Inc (NASDAQ:GSHD) in its Q3 2022 investor letter:

“The most significant absolute detractors from the Portfolio’s performance over the quarter included Yeti, Goosehead Insurance, Inc (NASDAQ:GSHD), and Dynatrace.

Goosehead Insurance, a personal line insurance brokerage focused primarily on homeowner and auto insurance, remains on track and the underlying business remains strong. However, the stock came under pressure during in the quarter due to an unfavorable corporate governance development. After visiting the company’s headquarters in Texas, exploring the issue in detail, and sharing our feedback, we remain confident in our long-term view of the company.”

Goosehead Insurance, Inc (NASDAQ:GSHD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Goosehead Insurance, Inc (NASDAQ:GSHD) at the end of the second quarter which was 17 in the previous quarter.

We discussed Goosehead Insurance, Inc (NASDAQ:GSHD) in another article and shared Polen Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 2022 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.