Goosehead Insurance (NASDAQ:GSHD) Stock Price Up 6% – Here’s Why

Goosehead Insurance (NASDAQ:GSHD)’s share price shot up 6% during mid-day trading on Monday . The stock traded as high as $47.32 and last traded at $47.0950. 178,383 shares were traded during trading, a decline of 60% from the average session volume of 448,441 shares. The stock had previously closed at $44.45.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Goosehead Insurance from $80.00 to $68.00 and set a “neutral” rating for the company in a research report on Monday. Truist Financial cut their price target on Goosehead Insurance from $72.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, February 18th. Piper Sandler upgraded shares of Goosehead Insurance from a “neutral” rating to an “overweight” rating and set a $69.00 price objective on the stock in a research report on Wednesday, February 18th. UBS Group dropped their price objective on shares of Goosehead Insurance from $121.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday. Finally, BMO Capital Markets cut their price objective on shares of Goosehead Insurance from $79.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday, February 18th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $77.00.

Goosehead Insurance Stock Up 3.1%

The stock has a fifty day moving average of $66.29 and a two-hundred day moving average of $72.45. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 44.05, a price-to-earnings-growth ratio of 2.59 and a beta of 1.55.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.10. Goosehead Insurance had a net margin of 7.62% and a negative return on equity of 21.31%. The company had revenue of $78.20 million during the quarter, compared to the consensus estimate of $99.67 million. During the same period last year, the firm earned $0.79 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, research analysts expect that Goosehead Insurance will post 0.83 EPS for the current year.

Insiders Place Their Bets

In other Goosehead Insurance news, General Counsel John Terry O’connor purchased 2,100 shares of the stock in a transaction on Wednesday, November 26th. The stock was bought at an average price of $71.81 per share, for a total transaction of $150,801.00. Following the acquisition, the general counsel directly owned 3,100 shares of the company’s stock, valued at $222,611. This represents a 210.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas Mcconnon sold 69,686 shares of the company’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 transaction of $5,130,283.32. Following the transaction, the director directly owned 269,322 shares of the company’s stock, valued at $19,827,485.64. This trade represents a 20.56% decrease in their position. The disclosure for this sale is available in the SEC filing. 37.76% of the stock is owned by corporate insiders.

Institutional Trading of Goosehead Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in Goosehead Insurance by 480.4% in the second quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock valued at $34,000 after acquiring an additional 269 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Goosehead Insurance during the fourth quarter worth about $41,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Goosehead Insurance by 802.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock worth $47,000 after purchasing an additional 393 shares during the period. CWM LLC lifted its stake in shares of Goosehead Insurance by 73.8% in the 2nd quarter. CWM LLC now owns 471 shares of the company’s stock valued at $50,000 after purchasing an additional 200 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Goosehead Insurance by 71.4% in the 3rd quarter. Fifth Third Bancorp now owns 682 shares of the company’s stock valued at $51,000 after purchasing an additional 284 shares in the last quarter.

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.