Goosehead Insurance (NASDAQ:GSHD) Trading Up 6.9% Following Analyst Upgrade

Goosehead Insurance, Inc (NASDAQ:GSHD)’s stock price shot up 6.9% during mid-day trading on Thursday after Piper Sandler raised their price target on the stock from $85.00 to $88.00. Piper Sandler currently has an overweight rating on the stock. Goosehead Insurance traded as high as $69.47 and last traded at $69.45. 131,638 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 264,266 shares. The stock had previously closed at $64.99.

A number of other research analysts have also recently weighed in on GSHD. TD Cowen assumed coverage on Goosehead Insurance in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $105.00 price target for the company. Truist Financial cut their target price on shares of Goosehead Insurance from $75.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Goosehead Insurance has a consensus rating of “Moderate Buy” and an average price target of $82.43.

Insiders Place Their Bets

In other news, COO Mark Miller bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average price of $73.86 per share, for a total transaction of $369,300.00. Following the completion of the transaction, the chief operating officer now owns 20,000 shares in the company, valued at $1,477,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder & Robyn Jones Descendants Mark sold 3,934 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $75.67, for a total transaction of $297,685.78. Following the completion of the transaction, the insider now owns 132,349 shares of the company’s stock, valued at approximately $10,014,848.83. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Mark Miller bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average cost of $73.86 per share, for a total transaction of $369,300.00. Following the completion of the transaction, the chief operating officer now directly owns 20,000 shares of the company’s stock, valued at approximately $1,477,200. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 7,582 shares of company stock valued at $561,249 and have sold 68,617 shares valued at $5,291,137. 48.35% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Goosehead Insurance

A number of hedge funds have recently made changes to their positions in GSHD. Principal Financial Group Inc. acquired a new stake in Goosehead Insurance during the 3rd quarter worth approximately $9,501,000. Amalgamated Bank raised its stake in shares of Goosehead Insurance by 217.7% in the 3rd quarter. Amalgamated Bank now owns 10,143 shares of the company’s stock valued at $756,000 after acquiring an additional 6,950 shares during the period. FMR LLC lifted its holdings in shares of Goosehead Insurance by 383.3% during the 3rd quarter. FMR LLC now owns 70,292 shares of the company’s stock valued at $5,239,000 after acquiring an additional 55,747 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in Goosehead Insurance during the 3rd quarter worth $23,614,000. Finally, Rhumbline Advisers increased its holdings in Goosehead Insurance by 132.3% in the 3rd quarter. Rhumbline Advisers now owns 67,401 shares of the company’s stock valued at $5,023,000 after purchasing an additional 38,392 shares in the last quarter.

Goosehead Insurance Trading Up 2.5 %

The firm has a fifty day moving average of $77.96 and a 200-day moving average of $74.50. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 118.51, a P/E/G ratio of 4.74 and a beta of 1.29. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.82 and a current ratio of 1.82.

Goosehead Insurance (NASDAQ:GSHD) last announced its earnings results on Wednesday, February 21st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $63.01 million during the quarter, compared to analysts’ expectations of $68.18 million. Goosehead Insurance had a net margin of 5.41% and a negative return on equity of 392.58%. As a group, equities analysts predict that Goosehead Insurance, Inc will post 0.81 earnings per share for the current fiscal year.

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.