Goosehead Insurance (NASDAQ:GSHD) Shares Up 6% – What’s Next?

Goosehead Insurance (NASDAQ:GSHD) shares shot up 6% during mid-day trading on Monday . The company traded as high as $47.32 and last traded at $47.0950. 178,383 shares traded hands during trading, a decline of 60% from the average session volume of 448,441 shares. The stock had previously closed at $44.45.

Analyst Ratings Changes

GSHD has been the subject of several research reports. Citigroup reiterated an “outperform” rating on shares of Goosehead Insurance in a research note on Wednesday, February 18th. Piper Sandler upgraded shares of Goosehead Insurance from a “neutral” rating to an “overweight” rating and set a $69.00 target price on the stock in a report on Wednesday, February 18th. Citizens Jmp decreased their price target on shares of Goosehead Insurance from $140.00 to $125.00 and set a “market outperform” rating for the company in a research report on Wednesday, February 18th. Truist Financial cut their price objective on Goosehead Insurance from $72.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, February 18th. Finally, UBS Group reduced their price objective on Goosehead Insurance from $121.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $77.00.

Goosehead Insurance Trading Up 3.1%

The stock has a market cap of $1.69 billion, a PE ratio of 44.05, a P/E/G ratio of 2.59 and a beta of 1.55. The company’s 50 day moving average is $66.29 and its 200-day moving average is $72.45.

Goosehead Insurance (NASDAQ:GSHD) last announced its earnings results on Tuesday, February 17th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.10. Goosehead Insurance had a negative return on equity of 21.31% and a net margin of 7.62%.The company had revenue of $78.20 million during the quarter, compared to the consensus estimate of $99.67 million. During the same period last year, the firm earned $0.79 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. As a group, analysts forecast that Goosehead Insurance will post 0.83 EPS for the current year.

Insider Activity

In related news, General Counsel John Terry O’connor acquired 2,100 shares of Goosehead Insurance stock in a transaction on Wednesday, November 26th. The shares were purchased at an average cost of $71.81 per share, for a total transaction of $150,801.00. Following the purchase, the general counsel directly owned 3,100 shares of the company’s stock, valued at $222,611. The trade was a 210.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Miller acquired 5,000 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were bought at an average cost of $72.34 per share, with a total value of $361,700.00. Following the completion of the acquisition, the chief executive officer owned 35,000 shares in the company, valued at $2,531,900. This represents a 16.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 37.76% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

A number of institutional investors have recently modified their holdings of GSHD. T. Rowe Price Investment Management Inc. lifted its position in shares of Goosehead Insurance by 38.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,002,003 shares of the company’s stock worth $147,448,000 after purchasing an additional 556,293 shares during the last quarter. Voloridge Investment Management LLC raised its stake in Goosehead Insurance by 21.4% during the fourth quarter. Voloridge Investment Management LLC now owns 40,304 shares of the company’s stock valued at $2,968,000 after buying an additional 7,100 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in Goosehead Insurance during the 4th quarter worth approximately $4,409,000. Odyssean LLC bought a new position in Goosehead Insurance during the 4th quarter worth approximately $728,000. Finally, Millennium Management LLC grew its position in shares of Goosehead Insurance by 29.5% in the 4th quarter. Millennium Management LLC now owns 126,485 shares of the company’s stock worth $9,316,000 after acquiring an additional 28,803 shares in the last quarter.

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.