Goosehead Insurance (NASDAQ:GSHD) Shares Climb 7.2% – What’s Next?

Goosehead Insurance (NASDAQ:GSHD)’s stock price shot up 7.2% on Thursday. The stock traded as high as $47.73 and last traded at $48.5650. 181,241 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 483,910 shares. The stock had previously closed at $45.32.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Goosehead Insurance from $72.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, October 12th. Texas Capital raised Goosehead Insurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 29th. JPMorgan Chase & Co. cut their price target on shares of Goosehead Insurance from $68.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, October 1st. Royal Bank Of Canada increased their price target on shares of Goosehead Insurance from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Thursday, July 23rd. Finally, Piper Sandler lowered shares of Goosehead Insurance from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $72.00 to $48.00 in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Goosehead Insurance presently has a consensus rating of “Hold” and a consensus price target of $64.42.

Goosehead Insurance Trading Up 11.7%

The company has a market cap of $1.80 billion, a price-to-earnings ratio of 36.95, a price-to-earnings-growth ratio of 1.77 and a beta of 1.46. The firm’s fifty day moving average price is $55.87 and its 200-day moving average price is $50.18.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.17. The business had revenue of $95.63 million during 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 quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS. As a group, research analysts anticipate that Goosehead Insurance will post 1.45 EPS for the current year.

Insiders Place Their Bets

In other Goosehead Insurance news, major shareholder Adrienne Kebodeaux sold 7,000 shares of Goosehead Insurance stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $70.00, for a total transaction of $490,000.00. Following the transaction, the insider directly owned 273,027 shares in the company, valued at approximately $19,111,890. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $65.03, for a total value of $325,150.00. Following the sale, the insider directly owned 58,530 shares in the company, valued at approximately $3,806,205.90. This represents a 7.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have bought 339,979 shares of company stock valued at $18,446,632 and have sold 267,000 shares valued at $18,056,139. Corporate insiders own 38.07% of the company’s stock.

Institutional Trading of Goosehead Insurance

A number of large investors have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB increased its stake in Goosehead Insurance by 484.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company’s stock worth $25,000 after purchasing an additional 426 shares in the last quarter. Versant Capital Management Inc raised its holdings in Goosehead Insurance by 471.9% during the 2nd quarter. Versant Capital Management Inc now owns 772 shares of the company’s stock worth $37,000 after buying an additional 637 shares during the period. Integrated Wealth Concepts LLC bought a new position in Goosehead Insurance in the second quarter valued at approximately $48,000. Nykredit A S bought a new position in Goosehead Insurance in the second quarter valued at approximately $50,000. Finally, GAMMA Investing LLC lifted its stake in Goosehead Insurance by 37.6% in the third quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock valued at $54,000 after buying an additional 328 shares in the last quarter.

About Goosehead Insurance

Goosehead Insurance, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchise locations. The company uses technology and relationships with multiple insurance carriers to help customers compare coverage options and select policies suited to their needs.

Its offerings primarily include homeowners, automobile, renters, flood, umbrella and other personal insurance products, along with selected commercial insurance solutions.