Goosehead Insurance (NASDAQ:GSHD) Shares Up 10.7% After Insider Buying Activity

Goosehead Insurance (NASDAQ:GSHD)’s stock price shot up 10.7% on Monday after an insider bought additional shares in the company. The company traded as high as $40.91 and last traded at $41.6940. 43,411 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 453,521 shares. The stock had previously closed at $37.65.

Specifically, General Counsel Martin Ellis Thornthwaite acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average cost of $41.50 per share, with a total value of $207,500.00. Following the acquisition, the general counsel owned 5,000 shares in the company, valued at approximately $207,500. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GSHD. BMO Capital Markets decreased their price objective on shares of Goosehead Insurance from $79.00 to $55.00 and set a “market perform” rating for the company in a report on Wednesday, February 18th. JPMorgan Chase & Co. decreased their price objective on shares of Goosehead Insurance from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Royal Bank Of Canada upped their price objective on shares of Goosehead Insurance from $49.00 to $52.00 and gave the stock a “sector perform” rating in a report on Thursday, April 23rd. Weiss Ratings downgraded shares of Goosehead Insurance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 20th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Goosehead Insurance from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $67.45.

Goosehead Insurance Trading Down 2.0%

The business’s fifty day simple moving average is $43.21 and its two-hundred day simple moving average is $58.26. The stock has a market capitalization of $1.47 billion, a P/E ratio of 36.24, a P/E/G ratio of 1.52 and a beta of 1.62.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $79.48 million during the quarter, compared to the consensus estimate of $105.16 million. During the same period in the prior year, the firm earned $0.26 EPS. The business’s revenue was up 23.1% on a year-over-year basis. On average, equities research analysts anticipate that Goosehead Insurance will post 1.43 earnings per share for the current year.

Institutional Investors Weigh In On Goosehead Insurance

A number of hedge funds have recently made changes to their positions in GSHD. AQR Capital Management LLC increased its position in shares of Goosehead Insurance by 85.7% during the 1st quarter. AQR Capital Management LLC now owns 4,332 shares of the company’s stock worth $511,000 after purchasing an additional 1,999 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Goosehead Insurance by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,369 shares of the company’s stock worth $1,578,000 after purchasing an additional 578 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Goosehead Insurance by 86.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 354,775 shares of the company’s stock worth $41,885,000 after purchasing an additional 164,693 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Goosehead Insurance by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,395 shares of the company’s stock worth $6,894,000 after purchasing an additional 3,218 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Goosehead Insurance by 28.2% during the 1st quarter. Intech Investment Management LLC now owns 11,179 shares of the company’s stock worth $1,320,000 after purchasing an additional 2,461 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.