Goosehead Insurance (NASDAQ:GSHD) Major Shareholder Durable Capital Partners Lp Buys 150,000 Shares of Company Stock

Goosehead Insurance (NASDAQ:GSHD) major shareholder Durable Capital Partners Lp bought 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was acquired at an average cost of $47.32 per share, for a total transaction of $7,098,000.00. Following the acquisition, the insider directly owned 2,720,260 shares of the company’s stock, valued at $128,722,703.20. The trade was a 5.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Durable Capital Partners Lp also recently made the following trade(s):

• On Friday, July 31st, Durable Capital Partners Lp purchased 36,256 shares of Goosehead Insurance stock. The shares were acquired at an average cost of $61.92 per share, with a total value of $2,244,971.52.
• On Monday, July 27th, Durable Capital Partners Lp acquired 40,077 shares of Goosehead Insurance stock. The shares were acquired at an average cost of $61.72 per share, with a total value of $2,473,552.44.
• On Friday, July 24th, Durable Capital Partners Lp bought 113,646 shares of Goosehead Insurance stock. The shares were acquired at an average price of $58.34 per share, with a total value of $6,630,107.64.

Goosehead Insurance Trading Up 0.3%

GSHD stock opened at $43.65 on Friday. The stock has a market cap of $1.55 billion, a P/E ratio of 31.86, a PEG ratio of 1.63 and a beta of 1.36. Goosehead Insurance has a twelve month low of $33.68 and a twelve month high of $79.85. The company’s 50 day moving average is $62.44 and its two-hundred day moving average is $49.96.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.47 by $0.17. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The firm had revenue of $95.63 million for the quarter, compared to analyst estimates of $103.30 million. During the same period last year, the business earned $0.49 EPS. Goosehead Insurance’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, equities research analysts predict that Goosehead Insurance will post 1.46 earnings per share for the current year.

Institutional Trading of Goosehead Insurance

Several hedge funds have recently modified their holdings of GSHD. Integrated Wealth Concepts LLC acquired a new stake in Goosehead Insurance in the second quarter valued at $48,000. Baird Financial Group Inc. lifted its stake in shares of Goosehead Insurance by 15.6% in the second quarter. Baird Financial Group Inc. now owns 7,541 shares of the company’s stock valued at $366,000 after purchasing an additional 1,016 shares during the period. Nykredit A S purchased a new stake in Goosehead Insurance during the second quarter worth about $50,000. Corient Private Wealth LP boosted its holdings in Goosehead Insurance by 123.7% during the second quarter. Corient Private Wealth LP now owns 56,935 shares of the company’s stock worth $2,761,000 after buying an additional 31,483 shares in the last quarter. Finally, Compass Financial Management LLC acquired a new position in Goosehead Insurance during the second quarter worth about $192,000.

Wall Street Analysts Forecast Growth

GSHD has been the subject of a number of research reports. Piper Sandler upped their target price on shares of Goosehead Insurance from $52.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price target on Goosehead Insurance from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Weiss Ratings downgraded Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, September 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $76.00 price objective on shares of Goosehead Insurance in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada lifted their target price on Goosehead Insurance from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Thursday, July 23rd. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $68.45.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchised locations. The company represents multiple insurance carriers, allowing its agents to compare coverage options and help customers select policies based on their individual needs.

Its product offerings include homeowners, auto, renters, flood, personal umbrella and other personal-lines insurance, along with selected commercial insurance products.