Goosehead Insurance (NASDAQ:GSHD) Stock Price Up 7.2% – Time to Buy?

Goosehead Insurance (NASDAQ:GSHD) rose 7.2% during mid-day trading on Thursday . The stock traded as high as $79.23 and last traded at $79.5750. Approximately 163,419 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 310,706 shares. The stock had previously closed at $74.24.

Analysts Set New Price Targets

GSHD has been the subject of several analyst reports. Truist Financial reduced their price target 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. BMO Capital Markets decreased their price objective on shares of Goosehead Insurance from $110.00 to $79.00 and set a “market perform” rating for the company in a report on Tuesday, November 25th. Zacks Research upgraded shares of Goosehead Insurance from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. JPMorgan Chase & Co. cut their target price on shares of Goosehead Insurance from $101.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Finally, Piper Sandler decreased their target price on shares of Goosehead Insurance from $79.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Goosehead Insurance presently has an average rating of “Hold” and an average price target of $92.20.

Goosehead Insurance Stock Performance

The firm has a market capitalization of $2.89 billion, a PE ratio of 69.35, a price-to-earnings-growth ratio of 12.13 and a beta of 1.52. The business’s fifty day simple moving average is $70.29 and its 200-day simple moving average is $85.02.

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

Insider Buying and Selling at Goosehead Insurance

In other Goosehead Insurance news, CEO Mark Miller purchased 5,000 shares of the stock in a transaction that occurred on Friday, November 28th. The stock was purchased at an average price of $72.34 per share, with a total value of $361,700.00. Following the acquisition, the chief executive officer owned 35,000 shares in the company, valued at approximately $2,531,900. The trade was a 16.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Mcconnon sold 69,686 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $73.62, for a total value of $5,130,283.32. Following the sale, the director directly owned 269,322 shares in the company, valued at $19,827,485.64. The trade was a 20.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have acquired 7,973 shares of company stock worth $577,487 over the last three months. 48.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Goosehead Insurance

A number of institutional investors and hedge funds have recently modified their holdings of GSHD. Simplex Trading LLC purchased a new position in shares of Goosehead Insurance during the 1st quarter worth about $88,000. Invesco Ltd. grew its stake in Goosehead Insurance by 56.8% in the first quarter. Invesco Ltd. now owns 102,402 shares of the company’s stock worth $12,090,000 after purchasing an additional 37,098 shares in the last quarter. Entropy Technologies LP increased its holdings in Goosehead Insurance by 13.0% during the 1st quarter. Entropy Technologies LP now owns 2,606 shares of the company’s stock worth $308,000 after purchasing an additional 300 shares during the period. Nuveen LLC purchased a new position in Goosehead Insurance during the 1st quarter worth $8,025,000. Finally, Public Sector Pension Investment Board raised its position in Goosehead Insurance by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 77,334 shares of the company’s stock valued at $9,130,000 after purchasing an additional 16,570 shares in the last quarter.

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.