Goosehead Insurance (NASDAQ:GSHD) Shares Up 7.2%


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Goosehead Insurance, Inc (NASDAQ:GSHD)’s share price shot up 7.2% on Tuesday . The company traded as high as $104.13 and last traded at $103.77. 12,756 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 157,005 shares. The stock had previously closed at $96.83.

A number of brokerages recently weighed in on GSHD. Royal Bank of Canada raised their price target on shares of Goosehead Insurance from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, February 2nd. Zacks Investment Research lowered shares of Goosehead Insurance from a “hold” rating to a “sell” rating in a report on Tuesday, March 23rd.

The firm has a market capitalization of $3.70 billion, a P/E ratio of 218.61 and a beta of 0.62. The firm’s 50-day moving average is $129.07 and its 200 day moving average is $122.17.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings data on Tuesday, February 23rd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $34.65 million for the quarter, compared to analysts’ expectations of $30.72 million. Goosehead Insurance had a net margin of 7.88% and a negative return on equity of 26.12%. On average, research analysts expect that Goosehead Insurance, Inc will post 0.54 earnings per share for the current fiscal year.

In other Goosehead Insurance news, CFO Mark S. Colby sold 4,000 shares of the business’s stock in a transaction dated Tuesday, January 19th. The shares were sold at an average price of $140.70, for a total transaction of $562,800.00. Following the sale, the chief financial officer now directly owns 69,160 shares of the company’s stock, valued at approximately $9,730,812. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Robyn Mary Elizabeth Jones sold 36,314 shares of the business’s stock in a transaction dated Friday, February 26th. The stock was sold at an average price of $131.54, for a total transaction of $4,776,743.56. Following the sale, the insider now directly owns 333,790 shares in the company, valued at $43,906,736.60. The disclosure for this sale can be found here. Insiders sold a total of 62,376 shares of company stock worth $8,665,636 over the last ninety days. 63.43% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Point72 Hong Kong Ltd bought a new stake in Goosehead Insurance during the 3rd quarter worth about $40,000. Great West Life Assurance Co. Can increased its stake in shares of Goosehead Insurance by 11,341.1% during the 3rd quarter. Great West Life Assurance Co. Can now owns 97,593 shares of the company’s stock worth $139,000 after purchasing an additional 96,740 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Goosehead Insurance by 480.6% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,225 shares of the company’s stock worth $153,000 after purchasing an additional 1,014 shares during the last quarter. Vestmark Advisory Solutions Inc. acquired a new position in shares of Goosehead Insurance during the 4th quarter worth about $245,000. Finally, Insight Wealth Strategies LLC acquired a new position in shares of Goosehead Insurance during the 4th quarter worth about $256,000. 45.24% of the stock is currently owned by hedge funds and other institutional investors.

About Goosehead Insurance (NASDAQ:GSHD)

Goosehead Insurance, Inc operates 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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