Goosehead Insurance (NASDAQ:GSHD) Trading 5.3% Higher on Insider Buying Activity

Goosehead Insurance (NASDAQ:GSHD)’s share price was up 5.3% during trading on Monday following insider buying activity. The stock traded as high as $75.61 and last traded at $75.3350. Approximately 145,135 shares changed hands during trading, a decline of 53% from the average daily volume of 308,791 shares. The stock had previously closed at $71.55.

Specifically, General Counsel John Terry O’connor acquired 2,100 shares of Goosehead Insurance stock in a transaction that occurred on Wednesday, November 26th. The stock was bought at an average price of $71.81 per share, with a total value of $150,801.00. Following the completion of the purchase, the general counsel directly owned 3,100 shares of the company’s stock, valued at approximately $222,611. This represents a 210.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Goosehead Insurance in a research report on Friday, October 31st. Jefferies Financial Group assumed coverage on Goosehead Insurance in a research report on Monday. They set a “buy” rating and a $93.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on shares of Goosehead Insurance from $101.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, October 9th. JMP Securities decreased their target price on Goosehead Insurance from $150.00 to $140.00 and set a “market outperform” rating for the company in a report on Tuesday, October 14th. Finally, Truist Financial decreased their target price on shares of Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, October 23rd. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $92.20.

Goosehead Insurance Stock Up 5.8%

The firm has a market capitalization of $2.79 billion, a PE ratio of 67.18, a price-to-earnings-growth ratio of 11.68 and a beta of 1.52. The business has a 50-day moving average price of $70.32 and a 200-day moving average price of $86.79.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings data on Thursday, October 23rd. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). The company had revenue of $90.44 million for the quarter, compared to analyst estimates of $94.25 million. Goosehead Insurance had a negative return on equity of 34.60% and a net margin of 8.55%.The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $0.50 EPS. On average, equities research analysts anticipate that Goosehead Insurance will post 0.83 earnings per share for the current year.

Institutional Investors Weigh In On Goosehead Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP grew its stake in shares of Goosehead Insurance by 12.6% in the 2nd quarter. Wasatch Advisors LP now owns 2,275,369 shares of the company’s stock valued at $240,074,000 after buying an additional 253,777 shares during the period. Durable Capital Partners LP raised its position in shares of Goosehead Insurance by 126.5% during the 3rd quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company’s stock valued at $114,769,000 after buying an additional 861,374 shares during the period. State Street Corp lifted its holdings in Goosehead Insurance by 1.4% in the second quarter. State Street Corp now owns 1,027,500 shares of the company’s stock valued at $108,412,000 after acquiring an additional 14,311 shares during the last quarter. DF Dent & Co. Inc. grew its position in Goosehead Insurance by 2.0% in the third quarter. DF Dent & Co. Inc. now owns 1,012,414 shares of the company’s stock worth $75,344,000 after acquiring an additional 20,085 shares during the period. Finally, Geode Capital Management LLC grew its position in Goosehead Insurance by 25.4% in the second quarter. Geode Capital Management LLC now owns 705,284 shares of the company’s stock worth $74,422,000 after acquiring an additional 143,038 shares during the period.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that engages in the provision of personal lines insurance agency services in the United States. The company offers homeowner’s, automotive, dwelling property, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services.