Goosehead Insurance (NASDAQ:GSHD) Shares Gap Up – What’s Next?

Goosehead Insurance (NASDAQ:GSHD) shares 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 trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GSHD shares. Citizens Jmp cut their price objective on shares of Goosehead Insurance from $125.00 to $100.00 and set a “market outperform” rating on the stock in a report on Monday, April 13th. UBS Group lowered their price objective on Goosehead Insurance from $85.00 to $67.00 and set a “buy” rating for the company in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods lifted their price objective on Goosehead Insurance from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Cantor Fitzgerald reduced their target price on Goosehead Insurance from $84.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Goosehead Insurance from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Goosehead Insurance presently has a consensus rating of “Hold” and a consensus price target of $65.09.

Goosehead Insurance Stock Up 6.0%

The business’s 50 day moving average is $40.34 and its two-hundred day moving average is $52.80. The firm has a market capitalization of $1.47 billion, a P/E ratio of 36.38, a PEG ratio of 1.28 and a beta of 1.52.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.17. The company had revenue of $79.48 million for the quarter, compared to the consensus estimate of $105.16 million. Goosehead Insurance had a net margin of 7.94% and a negative return on equity of 20.96%. Goosehead Insurance’s revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. As a group, equities analysts anticipate that Goosehead Insurance will post 1.49 earnings per share for the current fiscal year.

Insider Transactions at Goosehead Insurance

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in Goosehead Insurance by 480.4% in the second quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock worth $34,000 after acquiring an additional 269 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake 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 last quarter. Kestra Advisory Services LLC acquired a new position in shares of Goosehead Insurance in the 4th quarter worth approximately $41,000. Fifth Third Bancorp raised its holdings in shares of Goosehead Insurance by 71.4% in the 3rd quarter. Fifth Third Bancorp now owns 682 shares of the company’s stock worth $51,000 after purchasing an additional 284 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Goosehead Insurance by 614.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,000 shares of the company’s stock valued at $74,000 after purchasing an additional 860 shares during the last quarter.

Goosehead Insurance Company Profile

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.