Reliance Global Group Inc (RELI)

[shanak10]

Goose head killing it today

It's interesting that you mention it now. I was just doing some DD on $GSHD, as it is a good example, IMO.
$GSHD profile on TD:
Goosehead Insurance Inc NASDAQ: GSHD
Financials : Insurance | Small Cap GrowthCompany profile
Goosehead Insurance, Inc. is a independent personal lines insurance agency. The Company is primarily engaged in distributing personal lines products and services throughout the United States. The Company underwrites personal lines and small commercial lines risks for approximately 80 insurance companies. The Company’s insurance product offerings portfolio includes homeowner’s insurance; auto insurance; other personal lines products, including flood, wind and earthquake insurance; excess liability or umbrella insurance; specialty lines insurance (motorcycle, recreational vehicle and other insurance); commercial lines insurance (general liability, property and auto insurance for small businesses); and life insurance. The Company do not provide any insurance underwriting services to the companies engaged in same business process. The Company basically deals its projects through two segments: the Corporate Channel and Franchise Channel.
$RELI's PR from 9/9/2020
https://www.otcmarkets.com/stock/RELI/news/Reliance-Global-Group-Announces-LOI-to-Acquire-National-Insurance-Agency-With-Over-145-Affiliated-Offices-Across-40-Stat
Goosehead has over 100 carriers and 600 franchises.
Goosehead Did an IPO 3 years ago and the stock went from $25 to $120 in the three years
From $RELI's PR:

We are excited to announce this planned acquisition, which we believe will be a true game changer for our business. Specifically, the target agency reports over 145 affiliated offices in approximately 40 states nationwide. In addition, they have established relationships with over 120 well-known local and national carriers. The target agency has experienced steady organic growth and is generating over $150 million in recurring annual premiums. In addition, the audited financials for the company reflect over $2.5 million in net income in 2019, and we anticipate the transaction will be immediately accretive to our earnings. Moreover, the combination of this target acquisition with the cash flow of our existing portfolio, should ensure very strong, positive cash flow of the combined entities going forward.”

I realize the potential powerful strength of this acquisition and am holding LONG even if it takes a year to materialize.
I am also feeling confident in the fact that to date $RELI closed all their Insurance LOI's.
I commend Mr. Beyman for seeing the need to shift his directions from RE to insurance at this time. And I am sure that when the time is right and a good and profitable RE opportunity will knock on their door, they will hastingly open it. This is JMHO