Goosehead Insurance (NASDAQ:GSHD) Stock Jumps 8.5% – What’s Next?

Shares of Goosehead Insurance (NASDAQ:GSHD) rose 8.5% on Thursday. The company traded as high as $47.75 and last traded at $48.3710. Approximately 134,820 shares traded hands during trading, a decline of 72% from the average daily volume of 486,360 shares. The stock had previously closed at $44.60.

Analyst Upgrades and Downgrades

GSHD has been the topic of several analyst reports. Keefe, Bruyette & Woods cut their target price on Goosehead Insurance from $72.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday. Citizens Jmp decreased their price target on shares of Goosehead Insurance from $100.00 to $80.00 and set a “market outperform” rating for the company in a research report on Monday. Texas Capital raised shares of Goosehead Insurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 29th. JPMorgan Chase & Co. lowered their price target on shares of Goosehead Insurance from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, October 1st. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Goosehead Insurance in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $64.42.

Goosehead Insurance Stock Up 5.5%

The business has a 50-day moving average price of $57.82 and a 200-day moving average price of $50.04. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 34.31, a P/E/G ratio of 1.68 and a beta of 1.46.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.47 by $0.17. The firm had revenue of $95.63 million during the quarter, compared to analyst estimates of $103.30 million. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 EPS. On average, equities research analysts forecast that Goosehead Insurance will post 1.45 earnings per share for the current year.

Insiders Place Their Bets

In other Goosehead Insurance news, major shareholder Durable Capital Partners Lp purchased 150,000 shares of the stock in a transaction on Tuesday, September 22nd. The stock was acquired at an average price of $47.32 per share, with a total value of $7,098,000.00. Following the completion of the acquisition, the insider owned 2,720,260 shares in the company, valued at $128,722,703.20. The trade was a 5.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Adrienne Kebodeaux sold 7,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $70.00, for a total value of $490,000.00. Following the completion of the sale, the insider directly owned 273,027 shares of the company’s stock, valued at approximately $19,111,890. This represents a 2.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders purchased 339,979 shares of company stock valued at $18,446,632 and sold 267,000 shares valued at $18,056,139. Corporate insiders own 38.07% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

Hedge funds and other institutional investors have recently modified their holdings of the stock. Contravisory Investment Management Inc. acquired a new stake in Goosehead Insurance in the 3rd quarter worth approximately $233,000. GAMMA Investing LLC grew its position in Goosehead Insurance by 37.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $54,000 after purchasing an additional 328 shares during the last quarter. Versant Capital Management Inc grew its position in Goosehead Insurance by 36.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,057 shares of the company’s stock worth $48,000 after purchasing an additional 285 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Goosehead Insurance during the 2nd quarter worth approximately $48,000. Finally, Baird Financial Group Inc. increased its stake in Goosehead Insurance by 15.6% during the 2nd quarter. Baird Financial Group Inc. now owns 7,541 shares of the company’s stock valued at $366,000 after purchasing an additional 1,016 shares in the last quarter.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc is an independent insurance agency and distribution company that helps individuals and businesses shop for insurance coverage from a broad network of insurance carriers. The company uses a technology-enabled platform to provide quoting, policy management and customer service through its corporate operations and franchise network.

Goosehead offers a range of personal and commercial insurance products, including homeowners, automobile, renters, flood, umbrella and life insurance, along with coverage designed for small businesses and other commercial customers.