Goosehead Insurance (NASDAQ:GSHD) Stock Price Up 7.5% – Time to Buy?

Goosehead Insurance (NASDAQ:GSHD)’s share price was up 7.5% during mid-day trading on Thursday . The company traded as high as $54.80 and last traded at $55.5180. Approximately 54,988 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 493,384 shares. The stock had previously closed at $51.65.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Goosehead Insurance from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday. Weiss Ratings raised shares of Goosehead Insurance from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 9th. Bank of America lowered their price objective on shares of Goosehead Insurance from $43.00 to $37.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Royal Bank Of Canada increased their price objective on shares of Goosehead Insurance from $52.00 to $55.00 and gave the company a “sector perform” rating in a research note on Monday. Finally, Citizens Jmp cut 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. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $68.73.

Goosehead Insurance Price Performance

The company has a fifty day moving average of $42.29 and a 200 day moving average of $49.86. The firm has a market capitalization of $1.96 billion, a P/E ratio of 48.32, a PEG ratio of 1.76 and a beta of 1.41.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Thursday, April 23rd. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.17. Goosehead Insurance had a net margin of 7.94% and a negative return on equity of 20.96%. The business had revenue of $79.48 million for the quarter, compared to analyst estimates of $105.16 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. Goosehead Insurance’s revenue for the quarter was up 23.1% on a year-over-year basis. On average, sell-side analysts forecast that Goosehead Insurance will post 1.47 EPS for the current year.

Insider Activity at Goosehead Insurance

In related news, CFO John Arthur Martin acquired 5,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were bought at an average price of $34.73 per share, with a total value of $173,650.00. Following the transaction, the chief financial officer directly owned 5,000 shares of the company’s stock, valued at $173,650. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Martin Ellis Thornthwaite bought 5,000 shares of Goosehead Insurance stock in a transaction dated Monday, May 18th. The stock was purchased at an average price of $41.50 per share, with a total value of $207,500.00. Following the completion of the purchase, the general counsel owned 5,000 shares in the company, valued at $207,500. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 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 currently owned by company insiders.

Institutional Trading of Goosehead Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of GSHD. Meixler Investment Management Ltd. raised its holdings in shares of Goosehead Insurance by 5.3% in the fourth quarter. Meixler Investment Management Ltd. now owns 4,355 shares of the company’s stock valued at $321,000 after purchasing an additional 220 shares during the last quarter. Gibbs Wealth Management grew its holdings in Goosehead Insurance by 3.8% during the fourth quarter. Gibbs Wealth Management now owns 6,133 shares of the company’s stock valued at $459,000 after purchasing an additional 227 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Goosehead Insurance by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,022 shares of the company’s stock worth $1,268,000 after acquiring an additional 259 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Goosehead Insurance by 480.4% in the second quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock worth $34,000 after purchasing an additional 269 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in Goosehead Insurance by 5.0% in the 4th quarter. Blair William & Co. IL now owns 6,831 shares of the company’s stock valued at $503,000 after buying an additional 323 shares in the last quarter.

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.