Goosehead Insurance (NASDAQ:GSHD) Shares Gap Up – Still a Buy?

Shares of Goosehead Insurance (NASDAQ:GSHD) gapped up before the market opened on Tuesday . The stock had previously closed at $39.01, but opened at $40.34. Goosehead Insurance shares last traded at $40.8840, with a volume of 24,616 shares.

Wall Street Analysts Forecast Growth

GSHD has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their target price on Goosehead Insurance from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Citizens Jmp decreased their target price on shares of Goosehead Insurance from $125.00 to $100.00 and set a “market outperform” rating on the stock in a research report on Monday, April 13th. Weiss Ratings cut shares of Goosehead Insurance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 20th. UBS Group cut their price target on shares of Goosehead Insurance from $85.00 to $67.00 and set a “buy” rating for the company in a report on Tuesday, June 9th. Finally, Cantor Fitzgerald reduced their price objective on shares of Goosehead Insurance from $84.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Goosehead Insurance currently has an average rating of “Hold” and an average price target of $65.09.

Goosehead Insurance Trading Up 8.3%

The firm has a 50 day moving average of $40.36 and a two-hundred day moving average of $52.32. The stock has a market capitalization of $1.55 billion, a PE ratio of 38.07, a P/E/G ratio of 1.39 and a beta of 1.52.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Thursday, April 23rd. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.17. The company 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%.Goosehead Insurance’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share. Equities research analysts forecast that Goosehead Insurance will post 1.49 EPS for the current year.

Insider Buying and Selling at Goosehead Insurance

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston acquired 2,800 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $35.56 per share, for a total transaction of $99,568.00. Following the transaction, the insider directly owned 7,800 shares of the company’s stock, valued at approximately $277,368. This represents a 56.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John Arthur Martin purchased 5,000 shares of Goosehead Insurance stock in a transaction on Thursday, May 28th. The stock was acquired at an average cost of $34.73 per share, for a total transaction of $173,650.00. Following the acquisition, the chief financial officer directly owned 5,000 shares of the company’s stock, valued at approximately $173,650. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 12,800 shares of company stock valued at $480,718 and have sold 219,192 shares valued at $9,092,267. Corporate insiders own 38.07% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

A number of large investors have recently bought and sold shares of GSHD. EverSource Wealth Advisors LLC increased its position in Goosehead Insurance by 480.4% during the second quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock worth $34,000 after buying an additional 269 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Goosehead Insurance in the fourth quarter valued at $41,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Goosehead Insurance by 802.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock valued at $47,000 after acquiring an additional 393 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Goosehead Insurance by 71.4% during the third quarter. Fifth Third Bancorp now owns 682 shares of the company’s stock valued at $51,000 after acquiring an additional 284 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in Goosehead Insurance by 614.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,000 shares of the company’s stock worth $74,000 after purchasing an additional 860 shares in the last quarter.

Goosehead Insurance Company Profile

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.