Goosehead Insurance (NASDAQ:GSHD) Trading Up 4.5% – Still a Buy?

Goosehead Insurance (NASDAQ:GSHD)’s stock price shot up 4.5% during trading on Friday . The stock traded as high as $37.82 and last traded at $37.4360. 19,558 shares traded hands during trading, a decline of 96% from the average session volume of 468,911 shares. The stock had previously closed at $35.82.

Analyst Ratings Changes

GSHD has been the subject of a number of research reports. Weiss Ratings lowered Goosehead Insurance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 20th. Piper Sandler cut their price objective on Goosehead Insurance from $60.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Bank of America decreased their target price on Goosehead Insurance from $43.00 to $37.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods lifted their target price on Goosehead Insurance from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Finally, Cantor Fitzgerald dropped their price target on shares of Goosehead Insurance from $84.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $66.73.

Goosehead Insurance Stock Up 6.3%

The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 33.39, a price-to-earnings-growth ratio of 1.19 and a beta of 1.52. The company’s 50-day simple moving average is $41.71 and its 200-day simple moving average is $55.68.

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

Insider Buying and Selling

In related news, major shareholder Patrick Ryan Langston purchased 2,800 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average price of $35.56 per share, for a total transaction of $99,568.00. Following the transaction, the insider directly owned 7,800 shares of the company’s stock, valued at $277,368. This trade represents a 56.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO John Arthur Martin purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was bought at an average cost of $34.73 per share, for a total transaction of $173,650.00. Following the purchase, the chief financial officer directly owned 5,000 shares in the company, valued at $173,650. This represents a ? increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 12,800 shares of company stock valued at $480,718 and sold 219,192 shares valued at $9,092,267. Insiders own 38.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Durable Capital Partners LP raised its holdings in shares of Goosehead Insurance by 126.5% during the third quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company’s stock valued at $114,769,000 after acquiring an additional 861,374 shares during the period. Wasatch Advisors LP boosted its stake in Goosehead Insurance by 32.3% in the 1st quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock worth $97,786,000 after purchasing an additional 559,087 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Goosehead Insurance by 38.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,002,003 shares of the company’s stock worth $147,448,000 after purchasing an additional 556,293 shares in the last quarter. Langdon Equity Partners acquired a new stake in Goosehead Insurance during the 4th quarter valued at $41,892,000. Finally, Janus Henderson Group PLC raised its stake in Goosehead Insurance by 3,485.1% during the 1st quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock valued at $16,506,000 after purchasing an additional 376,114 shares during the period.

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.