Ewing Morris & Co. Investment Partners Ltd. Decreases Position in Goosehead Insurance $GSHD

Ewing Morris & Co. Investment Partners Ltd. trimmed its holdings in shares of Goosehead Insurance (NASDAQ:GSHD) by 23.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,633 shares of the company’s stock after selling 24,050 shares during the period. Goosehead Insurance accounts for about 2.0% of Ewing Morris & Co. Investment Partners Ltd.’s holdings, making the stock its 18th biggest holding. Ewing Morris & Co. Investment Partners Ltd.’s holdings in Goosehead Insurance were worth $3,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nykredit A S acquired a new stake in shares of Goosehead Insurance during the 2nd quarter valued at $50,000. B. Metzler seel. Sohn & Co. AG boosted its stake in shares of Goosehead Insurance by 8.0% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 18,742 shares of the company’s stock worth $909,000 after buying an additional 1,388 shares during the last quarter. Keeler Thomas Management LLC acquired a new position in Goosehead Insurance in the 2nd quarter valued at about $278,000. Bank of New York Mellon Corp bought a new position in shares of Goosehead Insurance in the second quarter worth $6,545,000. Finally, Handelsbanken Fonder AB boosted its position in Goosehead Insurance by 12.1% in the second quarter. Handelsbanken Fonder AB now owns 6,500 shares of the company’s stock valued at $315,000 after buying an additional 700 shares in the last quarter.

Insiders Place Their Bets

In related news, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of Goosehead Insurance stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $65.03, for a total value of $325,150.00. Following the completion of the sale, the insider owned 58,530 shares of the company’s stock, valued at approximately $3,806,205.90. The trade was a 7.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Durable Capital Partners Lp acquired 36,256 shares of Goosehead Insurance stock in a transaction on Friday, July 31st. The stock was purchased at an average price of $61.92 per share, with a total value of $2,244,971.52. Following the transaction, the insider directly owned 2,570,260 shares in the company, valued at approximately $159,150,499.20. This trade represents a 1.43% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 189,979 shares of company stock worth $11,348,632 and sold 267,000 shares worth $18,056,139. Insiders own 38.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GSHD. Weiss Ratings upgraded Goosehead Insurance from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. Keefe, Bruyette & Woods decreased their price objective on shares of Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. Royal Bank Of Canada raised their price objective on Goosehead Insurance from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Goosehead Insurance from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Finally, UBS Group lifted their target price on Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Goosehead Insurance presently has an average rating of “Hold” and a consensus price target of $68.45.

Goosehead Insurance Price Performance

GSHD stock opened at $68.80 on Thursday. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 50.22, a price-to-earnings-growth ratio of 2.44 and a beta of 1.36. The company has a fifty day moving average price of $61.02 and a 200 day moving average price of $49.26. Goosehead Insurance has a 12 month low of $33.68 and a 12 month high of $85.53.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.17. The business had revenue of $95.63 million during the quarter, compared to analyst estimates of $103.30 million. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The company’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. As a group, analysts anticipate that Goosehead Insurance will post 1.46 earnings per share for the current year.

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.