Goosehead Insurance (NASDAQ:GSHD) Shares Up 10.7% Following Insider Buying Activity

Goosehead Insurance (NASDAQ:GSHD) shares shot up 10.7% during mid-day trading on Monday following insider buying activity. The company traded as high as $40.91 and last traded at $41.6940. 43,411 shares were traded during mid-day trading, a decline of 90% from the average session volume of 453,521 shares. The stock had previously closed at $37.65.

Specifically, General Counsel Martin Ellis Thornthwaite acquired 5,000 shares of Goosehead Insurance stock in a transaction on Monday, May 18th. The shares were bought at an average cost of $41.50 per share, with a total value of $207,500.00. Following the completion of the purchase, the general counsel directly owned 5,000 shares of the company’s stock, valued at $207,500. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GSHD. Wall Street Zen upgraded Goosehead Insurance from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Piper Sandler decreased their price target on Goosehead Insurance from $69.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Bank of America lowered their price target on Goosehead Insurance from $43.00 to $37.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Royal Bank Of Canada lifted their price objective on shares of Goosehead Insurance from $49.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 23rd. Finally, Truist Financial cut their price objective on shares of Goosehead Insurance from $72.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, February 18th. Seven 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’s stock. According to data from MarketBeat.com, Goosehead Insurance has an average rating of “Hold” and a consensus price target of $67.45.

Goosehead Insurance Stock Performance

The firm has a market capitalization of $1.47 billion, a P/E ratio of 36.24, a P/E/G ratio of 1.52 and a beta of 1.62. The stock’s 50 day simple moving average is $43.21 and its 200 day simple moving average is $58.26.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.17. The firm had revenue of $79.48 million during 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%. The company’s revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share. On average, analysts anticipate that Goosehead Insurance will post 1.43 earnings per share for the current year.

Institutional Investors Weigh In On Goosehead Insurance

A number of institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC grew its position in shares of Goosehead Insurance by 85.7% during the 1st quarter. AQR Capital Management LLC now owns 4,332 shares of the company’s stock worth $511,000 after buying an additional 1,999 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Goosehead Insurance by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,369 shares of the company’s stock valued at $1,578,000 after acquiring an additional 578 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Goosehead Insurance by 86.6% in the first quarter. Goldman Sachs Group Inc. now owns 354,775 shares of the company’s stock worth $41,885,000 after acquiring an additional 164,693 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Goosehead Insurance by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,395 shares of the company’s stock worth $6,894,000 after acquiring an additional 3,218 shares during the period. Finally, Intech Investment Management LLC grew its holdings in Goosehead Insurance by 28.2% during the 1st quarter. Intech Investment Management LLC now owns 11,179 shares of the company’s stock worth $1,320,000 after acquiring an additional 2,461 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.