Goosehead Insurance (NASDAQ:GSHD) Trading 7.9% Higher – Time to Buy?
by Tristan Rich · The Markets DailyShares of Goosehead Insurance (NASDAQ:GSHD – Get Free Report) rose 7.9% during mid-day trading on Monday . The stock traded as high as $40.17 and last traded at $39.8060. 43,684 shares changed hands during trading, a decline of 91% from the average session volume of 473,563 shares. The stock had previously closed at $36.88.
Wall Street Analysts Forecast Growth
GSHD has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Goosehead Insurance from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Bank of America decreased their price objective on Goosehead Insurance from $43.00 to $37.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Royal Bank Of Canada lifted their target price on Goosehead Insurance from $49.00 to $52.00 and gave the stock a “sector perform” rating in a report on Thursday, April 23rd. Cantor Fitzgerald reduced their target price on shares of Goosehead Insurance from $84.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Finally, Weiss Ratings downgraded shares of Goosehead Insurance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 20th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $65.09.
View Our Latest Research Report on GSHD
Goosehead Insurance Price Performance
The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 33.37, a P/E/G ratio of 1.28 and a beta of 1.52. The business’s 50-day moving average price is $40.40 and its two-hundred day moving average price is $53.06.
Goosehead Insurance (NASDAQ:GSHD – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.17. The business had revenue of $79.48 million for the quarter, compared to the consensus estimate of $105.16 million. Goosehead Insurance had a negative return on equity of 20.96% and a net margin of 7.94%.The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.26 earnings per share. As a group, research analysts predict that Goosehead Insurance will post 1.49 EPS for the current year.
Insider Buying and Selling
In related news, major shareholder Patrick Ryan Langston purchased 2,800 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average price of $35.56 per share, with a total value of $99,568.00. Following the completion of the purchase, the insider directly owned 7,800 shares in the company, valued at $277,368. This trade represents a 56.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Martin Ellis Thornthwaite acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were purchased at an average cost of $41.50 per share, with a total value of $207,500.00. Following the transaction, the general counsel directly owned 5,000 shares of the company’s stock, valued at $207,500. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 12,800 shares of company stock worth $480,718 and have sold 219,192 shares worth $9,092,267. Company insiders own 38.07% of the company’s stock.
Institutional Trading of Goosehead Insurance
Large investors have recently made changes to their positions in the company. Phocas Financial Corp. acquired a new position in Goosehead Insurance during the fourth quarter valued at approximately $3,669,000. M&T Bank Corp boosted its holdings in shares of Goosehead Insurance by 1,075.4% in the 4th quarter. M&T Bank Corp now owns 115,834 shares of the company’s stock valued at $8,531,000 after purchasing an additional 105,979 shares in the last quarter. UBS Group AG boosted its holdings in shares of Goosehead Insurance by 26.7% in the 4th quarter. UBS Group AG now owns 156,019 shares of the company’s stock valued at $11,491,000 after purchasing an additional 32,920 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Goosehead Insurance by 43,893.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 65,111 shares of the company’s stock valued at $4,795,000 after purchasing an additional 64,963 shares during the last quarter. Finally, Jacobson & Schmitt Advisors LLC raised its holdings in shares of Goosehead Insurance by 31.8% during the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 136,553 shares of the company’s stock worth $10,162,000 after buying an additional 32,981 shares in the last quarter.
About Goosehead Insurance
Goosehead Insurance (NASDAQ: GSHD) is a technology-driven insurance agency that connects consumers with a broad range of personal and commercial insurance products through an extensive network of independent insurance advisors. The company specializes in homeowners, auto, flood, dwelling fire, umbrella, life, and commercial lines coverage, working with multiple national and regional carriers to offer tailored policies. By combining advanced quoting tools with local market expertise, Goosehead streamlines the insurance shopping process and helps clients find competitive coverage options.
Founded in 2003 and headquartered in Westlake, Texas, Goosehead has grown its footprint across more than 40 states in the U.S.