Goosehead Insurance (NASDAQ:GSHD) Trading 7.5% Higher – Should You Buy?

Goosehead Insurance (NASDAQ:GSHD) rose 7.5% on Thursday . The company traded as high as $54.80 and last traded at $55.5180. 54,988 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 493,384 shares. The stock had previously closed at $51.65.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GSHD. JPMorgan Chase & Co. raised their price objective on shares of Goosehead Insurance from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of Goosehead Insurance from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 9th. Bank of America cut their price target on Goosehead Insurance from $43.00 to $37.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 14th. Piper Sandler lifted their price objective on shares of Goosehead Insurance from $52.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Citizens Jmp decreased their target price on 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 analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $68.73.

Goosehead Insurance Trading Down 1.6%

The company has a market cap of $1.93 billion, a price-to-earnings ratio of 47.61, a PEG ratio of 1.95 and a beta of 1.41. The business’s 50 day moving average price is $42.82 and its 200-day moving average price is $49.75.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $79.48 million during the quarter, compared to analysts’ expectations of $105.16 million. During the same quarter in the previous year, the company earned $0.26 EPS. The business’s revenue was up 23.1% on a year-over-year basis. Equities research analysts forecast that Goosehead Insurance will post 1.45 EPS for the current fiscal year.

Insider Activity at Goosehead Insurance

In other news, major shareholder Patrick Ryan Langston bought 2,800 shares of the stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $35.56 per share, with a total value of $99,568.00. Following the acquisition, the insider directly owned 7,800 shares in the company, valued at approximately $277,368. This trade represents a 56.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John Arthur Martin acquired 5,000 shares of the stock in a transaction dated Thursday, May 28th. The stock was purchased at an average cost of $34.73 per share, with a total value of $173,650.00. Following the purchase, the chief financial officer directly owned 5,000 shares of the company’s stock, valued at $173,650. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 12,800 shares of company stock valued at $480,718 and have sold 219,192 shares valued at $9,092,267. Corporate insiders own 38.07% of the company’s stock.

Institutional Trading of Goosehead Insurance

Several hedge funds have recently modified their holdings of the stock. Phocas Financial Corp. bought a new position in shares of Goosehead Insurance during the fourth quarter valued at about $3,669,000. Langdon Equity Partners bought a new stake in Goosehead Insurance in the fourth quarter worth $41,892,000. Northwestern Mutual Wealth Management Co. grew its position in Goosehead Insurance by 43,893.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 65,111 shares of the company’s stock valued at $4,795,000 after purchasing an additional 64,963 shares during the last quarter. M&T Bank Corp grew its holdings in shares of Goosehead Insurance by 1,075.4% during the fourth quarter. M&T Bank Corp now owns 115,834 shares of the company’s stock valued at $8,531,000 after buying an additional 105,979 shares during the last quarter. Finally, UBS Group AG boosted its stake in Goosehead Insurance by 26.7% during the 4th quarter. UBS Group AG now owns 156,019 shares of the company’s stock valued at $11,491,000 after purchasing an additional 32,920 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.