Goosehead Insurance (NASDAQ:GSHD) Shares Gap Up – Time to Buy?

Goosehead Insurance (NASDAQ:GSHD)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $39.01, but opened at $40.34. Goosehead Insurance shares last traded at $40.8840, with a volume of 24,616 shares.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GSHD. Weiss Ratings downgraded shares of Goosehead Insurance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 20th. Bank of America decreased their target price on shares of Goosehead Insurance from $43.00 to $37.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Royal Bank Of Canada boosted their target price on shares of Goosehead Insurance from $49.00 to $52.00 and gave the company a “sector perform” rating in a report on Thursday, April 23rd. Piper Sandler dropped their price target on shares of Goosehead Insurance from $60.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. Finally, Citizens Jmp cut their price target on shares of Goosehead Insurance from $125.00 to $100.00 and set a “market outperform” rating on the stock in a research note on Monday, April 13th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $65.09.

Goosehead Insurance Stock Up 6.0%

The company has a 50 day simple moving average of $40.34 and a 200 day simple moving average of $52.80. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 1.28 and a beta of 1.52.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.17. The business had revenue of $79.48 million for the quarter, compared to analyst estimates of $105.16 million. Goosehead Insurance had a negative return on equity of 20.96% and a net margin of 7.94%.The company’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 EPS. On average, research analysts forecast that Goosehead Insurance will post 1.49 EPS for the current fiscal year.

Insider Buying and Selling at Goosehead Insurance

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston acquired 2,800 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was bought at an average cost of $35.56 per share, for a total transaction of $99,568.00. Following the completion of the purchase, the insider directly owned 7,800 shares in the company, valued at $277,368. This represents a 56.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Martin Ellis Thornthwaite acquired 5,000 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was acquired at an average cost of $41.50 per share, with a total value of $207,500.00. Following the transaction, the general counsel directly owned 5,000 shares of the company’s stock, valued at approximately $207,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 12,800 shares of company stock valued at $480,718 and sold 219,192 shares valued at $9,092,267. Corporate insiders own 38.07% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Phocas Financial Corp. purchased a new stake in shares of Goosehead Insurance in the fourth quarter worth about $3,669,000. Northwestern Mutual Wealth Management Co. lifted 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 worth $4,795,000 after acquiring an additional 64,963 shares in the last quarter. M&T Bank Corp boosted its holdings in Goosehead Insurance by 1,075.4% in the 4th quarter. M&T Bank Corp now owns 115,834 shares of the company’s stock worth $8,531,000 after acquiring an additional 105,979 shares during the period. UBS Group AG grew its position in Goosehead Insurance by 26.7% in the fourth quarter. UBS Group AG now owns 156,019 shares of the company’s stock valued at $11,491,000 after acquiring an additional 32,920 shares in the last quarter. Finally, Jacobson & Schmitt Advisors LLC raised its stake in shares of Goosehead Insurance by 31.8% during the third quarter. Jacobson & Schmitt Advisors LLC now owns 136,553 shares of the company’s stock valued at $10,162,000 after purchasing an additional 32,981 shares during the period.

About Goosehead Insurance

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.