Goosehead Insurance (NASDAQ:GSHD) Shares Up 7.9% – Still a Buy?

Goosehead Insurance (NASDAQ:GSHD) rose 7.9% on Monday . The company traded as high as $40.17 and last traded at $39.8060. 43,684 shares traded hands during trading, a decline of 91% from the average daily volume of 473,563 shares. The stock had previously closed at $36.88.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GSHD shares. Royal Bank Of Canada raised their price objective on Goosehead Insurance from $49.00 to $52.00 and gave the company a “sector perform” rating in a research report on Thursday, April 23rd. Piper Sandler decreased their target price on Goosehead Insurance from $60.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. UBS Group cut their price target on Goosehead Insurance from $85.00 to $67.00 and set a “buy” rating for the company in a report on Tuesday, June 9th. Weiss Ratings cut shares of Goosehead Insurance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 20th. Finally, Citizens Jmp cut their target price on shares of Goosehead Insurance from $125.00 to $100.00 and set a “market outperform” rating for the company in a research note on Monday, April 13th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $65.09.

Goosehead Insurance Trading Up 2.7%

The business has a 50-day moving average price of $40.33 and a two-hundred day moving average price of $52.54. The stock has a market capitalization of $1.43 billion, a P/E ratio of 35.14, a P/E/G ratio of 1.35 and a beta of 1.52.

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, topping 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 company had revenue of $79.48 million during the quarter, compared to the consensus estimate of $105.16 million. During the same quarter in the prior year, the firm posted $0.26 EPS. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. On average, sell-side analysts forecast that Goosehead Insurance will post 1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Patrick Ryan Langston purchased 2,800 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $35.56 per share, with a total value of $99,568.00. Following the acquisition, the insider owned 7,800 shares of the company’s stock, valued at $277,368. This trade represents a 56.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 82,689 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $41.77, for a total transaction of $3,453,919.53. Following the transaction, the insider owned 7,050,356 shares of the company’s stock, valued at approximately $294,493,370.12. This represents a 1.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have bought 12,800 shares of company stock worth $480,718 and have sold 219,192 shares worth $9,092,267. Insiders own 38.07% of the company’s stock.

Institutional Trading of Goosehead Insurance

A number of hedge funds have recently added to or reduced their stakes in the stock. Meixler Investment Management Ltd. boosted its stake in shares of Goosehead Insurance by 5.3% in the 4th quarter. Meixler Investment Management Ltd. now owns 4,355 shares of the company’s stock worth $321,000 after buying an additional 220 shares during the last quarter. Gibbs Wealth Management increased its position in shares of Goosehead Insurance by 3.8% during the fourth quarter. Gibbs Wealth Management now owns 6,133 shares of the company’s stock valued at $459,000 after acquiring an additional 227 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Goosehead Insurance by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 12,022 shares of the company’s stock worth $1,268,000 after acquiring an additional 259 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Goosehead Insurance by 480.4% during the second quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock worth $34,000 after acquiring an additional 269 shares during the period. Finally, Rhumbline Advisers boosted its position in Goosehead Insurance by 0.4% in the third quarter. Rhumbline Advisers now owns 69,012 shares of the company’s stock worth $5,136,000 after purchasing an additional 284 shares during 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.