Goosehead Insurance (NASDAQ:GSHD) Stock Price Up 8.5% – Here’s Why

Goosehead Insurance (NASDAQ:GSHD) traded up 8.5% on Thursday. The stock traded as high as $47.75 and last traded at $48.3710. 134,820 shares were traded during mid-day trading, a decline of 72% from the average session volume of 486,360 shares. The stock had previously closed at $44.60.

Wall Street Analysts Forecast Growth

GSHD has been the subject of several research reports. JPMorgan Chase & Co. reduced their price objective on Goosehead Insurance from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. UBS Group upped their target price on Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 27th. Citizens Jmp lowered their target price on Goosehead Insurance from $100.00 to $80.00 and set a “market outperform” rating on the stock in a report on Monday, October 12th. BMO Capital Markets restated a “market perform” rating on shares of Goosehead Insurance in a research report on Wednesday. Finally, Weiss Ratings downgraded Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Goosehead Insurance presently has a consensus rating of “Hold” and a consensus target price of $64.42.

Goosehead Insurance Stock Up 1.8%

The business’s fifty day moving average price is $57.02 and its 200 day moving average price is $50.05. The firm has a market capitalization of $1.65 billion, a PE ratio of 33.87, a P/E/G ratio of 1.72 and a beta of 1.46.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.17. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%. The company had revenue of $95.63 million for the quarter, compared to analyst estimates of $103.30 million. During the same quarter in the prior year, the company posted $0.49 EPS. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Goosehead Insurance will post 1.45 earnings per share for the current fiscal year.

Insider Activity at Goosehead Insurance

In related news, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of the business’s stock in a transaction that occurred 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 directly owned 58,530 shares in the company, valued at approximately $3,806,205.90. The trade was a 7.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 22,481 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $66.87, for a total transaction of $1,503,304.47. Following the sale, the insider directly owned 6,767,661 shares of the company’s stock, valued at $452,553,491.07. This represents a 0.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders acquired 339,979 shares of company stock valued at $18,446,632 and sold 267,000 shares valued at $18,056,139. Insiders own 38.07% of the company’s stock.

Institutional Trading of Goosehead Insurance

Institutional investors have recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. acquired a new stake in shares of Goosehead Insurance in the 3rd quarter valued at about $233,000. GAMMA Investing LLC lifted its stake in Goosehead Insurance by 37.6% during the third quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $54,000 after purchasing an additional 328 shares during the last quarter. Versant Capital Management Inc lifted its stake in Goosehead Insurance by 36.9% during the third quarter. Versant Capital Management Inc now owns 1,057 shares of the company’s stock worth $48,000 after purchasing an additional 285 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Goosehead Insurance during the second quarter worth $48,000. Finally, Baird Financial Group Inc. boosted its holdings in Goosehead Insurance by 15.6% in the second quarter. Baird Financial Group Inc. now owns 7,541 shares of the company’s stock worth $366,000 after purchasing an additional 1,016 shares during the period.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc is an independent insurance agency and distribution company that helps individuals and businesses shop for insurance coverage from a broad network of insurance carriers. The company uses a technology-enabled platform to provide quoting, policy management and customer service through its corporate operations and franchise network.

Goosehead offers a range of personal and commercial insurance products, including homeowners, automobile, renters, flood, umbrella and life insurance, along with coverage designed for small businesses and other commercial customers.