Goosehead Insurance’s (NASDAQ:GSHD) lock-up period is set to expire on Wednesday, October 24th. Goosehead Insurance had issued 8,530,000 shares in its public offering on April 27th. The total size of the offering was $85,300,000 based on an initial share price of $10.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
Several equities analysts have recently weighed in on GSHD shares. Zacks Investment Research downgraded Goosehead Insurance from a “buy” rating to a “hold” rating in a report on Tuesday. Keefe, Bruyette & Woods restated a “hold” rating and set a $28.00 price target on shares of Goosehead Insurance in a report on Thursday, August 9th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $25.00.
NASDAQ GSHD traded down $0.83 during trading hours on Friday, hitting $28.32. The company’s stock had a trading volume of 217,575 shares, compared to its average volume of 166,723. Goosehead Insurance has a 12 month low of $10.78 and a 12 month high of $38.18.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. increased its holdings in Goosehead Insurance by 2,831.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,720 shares of the company’s stock worth $160,000 after buying an additional 4,559 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Goosehead Insurance by 394.5% in the 3rd quarter. Wells Fargo & Company MN now owns 5,904 shares of the company’s stock worth $199,000 after buying an additional 4,710 shares in the last quarter. Rhumbline Advisers bought a new stake in Goosehead Insurance in the 2nd quarter worth about $217,000. Thompson Davis & CO. Inc. bought a new stake in Goosehead Insurance in the 2nd quarter worth about $318,000. Finally, Alliancebernstein L.P. bought a new stake in Goosehead Insurance in the 3rd quarter worth about $339,000. Institutional investors own 75.79% of the company’s stock.
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Goosehead Insurance Company Profile
Goosehead Insurance, Inc focuses on operating as a holding company for Goosehead Financial, LLC that provides personal lines insurance agency services in the United States. The company operates through two segments, Corporate Channel and Franchise Channel. It offers various insurance products, including homeowner's insurance; auto insurance; other personal lines products, such as flood, wind, and earthquake insurance; excess liability or umbrella insurance; specialty lines insurance comprising motorcycle, recreational vehicle, and other insurance; commercial lines insurance consisting of general liability, property, and auto insurance for small businesses; and life insurance.
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