Goosehead Insurance (NASDAQ:GSHD) Stock Price Up 5.4% – Should You Buy?

Goosehead Insurance (NASDAQ:GSHD) shares rose 5.4% during mid-day trading on Tuesday . The stock traded as high as $38.38 and last traded at $38.01. Approximately 41,688 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 465,686 shares. The stock had previously closed at $36.05.

Wall Street Analyst Weigh In

GSHD has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their price target on Goosehead Insurance from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Truist Financial lowered their price target on Goosehead Insurance from $72.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, February 18th. Bank of America lowered their price target on Goosehead Insurance from $43.00 to $37.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. BMO Capital Markets lowered their price target on Goosehead Insurance from $79.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday, February 18th. Finally, UBS Group lowered their price target on Goosehead Insurance from $85.00 to $67.00 and set a “buy” rating for the company in a research report on Tuesday, June 9th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Goosehead Insurance currently has an average rating of “Hold” and a consensus target price of $65.09.

Goosehead Insurance Trading Down 6.2%

The firm has a fifty day moving average of $40.73 and a 200 day moving average of $53.57. The company has a market capitalization of $1.25 billion, a P/E ratio of 30.82, a P/E/G ratio of 1.30 and a beta of 1.52.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.20 by $0.17. Goosehead Insurance had a negative return on equity of 20.96% and a net margin of 7.94%.The company had revenue of $79.48 million during the quarter, compared to the consensus estimate of $105.16 million. During the same period last year, the company earned $0.26 EPS. Goosehead Insurance’s revenue for the quarter was up 23.1% on a year-over-year basis. Sell-side analysts anticipate that Goosehead Insurance will post 1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder & Robyn Jones Descendants Mark sold 9,588 shares of Goosehead Insurance stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $40.76, for a total value of $390,806.88. Following the completion of the sale, the insider directly owned 6,995,180 shares in the company, valued at approximately $285,123,536.80. This trade represents a 0.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Patrick Ryan Langston purchased 2,800 shares of the business’s stock in a transaction on Friday, May 29th. The shares were purchased 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 owned 7,800 shares in the company, valued at approximately $277,368. This trade represents a 56.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 12,800 shares of company stock valued at $480,718 and have sold 219,192 shares valued at $9,092,267. 38.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

A number of large investors have recently made changes to their positions in the company. Wasatch Advisors LP grew its stake in shares of Goosehead Insurance by 32.3% during the 1st quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock valued at $97,786,000 after purchasing an additional 559,087 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of Goosehead Insurance by 38.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,002,003 shares of the company’s stock valued at $147,448,000 after purchasing an additional 556,293 shares during the period. Durable Capital Partners LP grew its stake in shares of Goosehead Insurance by 126.5% during the 3rd quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company’s stock valued at $114,769,000 after purchasing an additional 861,374 shares during the period. DF Dent & Co. Inc. grew its stake in shares of Goosehead Insurance by 3.2% during the 4th quarter. DF Dent & Co. Inc. now owns 1,044,660 shares of the company’s stock valued at $76,939,000 after purchasing an additional 32,246 shares during the period. Finally, State Street Corp grew its stake in shares of Goosehead Insurance by 1.4% during the 2nd quarter. State Street Corp now owns 1,027,500 shares of the company’s stock valued at $108,412,000 after purchasing an additional 14,311 shares during the period.

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.