Goosehead Insurance (NASDAQ:GSHD) Receives Average Recommendation of “Hold” from Brokerages

Shares of Goosehead Insurance (NASDAQ:GSHD) have received a consensus rating of “Hold” from the fourteen brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $68.4545.

Several analysts have commented on the stock. Weiss Ratings upgraded shares of Goosehead Insurance from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. UBS Group raised their target price on Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Cantor Fitzgerald restated an “overweight” rating and set a $76.00 price target on shares of Goosehead Insurance in a research report on Thursday, July 23rd. Royal Bank Of Canada upped their price target on Goosehead Insurance from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd. Finally, Piper Sandler increased their price objective on Goosehead Insurance from $52.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th.

Insider Buying and Selling

In related news, major shareholder & Robyn Jones Descendants Mark sold 22,481 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $66.87, for a total value of $1,503,304.47. Following the sale, the insider owned 6,767,661 shares in the company, valued at $452,553,491.07. This represents a 0.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Durable Capital Partners Lp purchased 36,256 shares of Goosehead Insurance stock in a transaction dated Friday, July 31st. The shares were bought at an average price of $61.92 per share, with a total value of $2,244,971.52. Following the completion of the acquisition, the insider directly owned 2,570,260 shares of the company’s stock, valued at approximately $159,150,499.20. This represents a 1.43% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 189,979 shares of company stock valued at $11,348,632 and sold 267,000 shares valued at $18,056,139. 38.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

Several institutional investors and hedge funds have recently added to or reduced their stakes in GSHD. AQR Capital Management LLC raised its stake in Goosehead Insurance by 85.7% during the 1st quarter. AQR Capital Management LLC now owns 4,332 shares of the company’s stock valued at $511,000 after buying an additional 1,999 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Goosehead Insurance by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,369 shares of the company’s stock worth $1,578,000 after buying an additional 578 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Goosehead Insurance by 86.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 354,775 shares of the company’s stock worth $41,885,000 after buying an additional 164,693 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Goosehead Insurance by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,395 shares of the company’s stock valued at $6,894,000 after acquiring an additional 3,218 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in Goosehead Insurance by 28.2% in the first quarter. Intech Investment Management LLC now owns 11,179 shares of the company’s stock valued at $1,320,000 after acquiring an additional 2,461 shares during the period.

Goosehead Insurance Price Performance

GSHD opened at $65.21 on Friday. The business has a 50 day simple moving average of $61.85 and a two-hundred day simple moving average of $49.50. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 47.60, a PEG ratio of 2.39 and a beta of 1.36. Goosehead Insurance has a one year low of $33.68 and a one year high of $85.53.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.17. The business had revenue of $95.63 million for the quarter, compared to analysts’ expectations of $103.30 million. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. As a group, sell-side analysts expect that Goosehead Insurance will post 1.46 EPS for the current fiscal year.

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.