Goosehead Insurance (NASDAQ:GSHD) Shares Climb 4.6% Following Insider Buying Activity

Goosehead Insurance (NASDAQ:GSHD) shot up 4.6% during mid-day trading on Friday after an insider bought additional shares in the company. The stock traded as high as $45.84 and last traded at $45.6550. 71,186 shares were traded during trading, a decline of 85% from the average session volume of 490,118 shares. The stock had previously closed at $43.65.

Specifically, major shareholder Durable Capital Partners Lp acquired 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were acquired at an average cost of $47.32 per share, for a total transaction of $7,098,000.00. Following the completion of the purchase, the insider directly owned 2,720,260 shares in the company, valued at $128,722,703.20. This trade represents a 5.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. JPMorgan Chase & Co. upped their price target on shares of Goosehead Insurance from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Royal Bank Of Canada increased their price objective on shares of Goosehead Insurance from $55.00 to $58.00 and gave the company a “sector perform” rating in a report on Thursday, July 23rd. UBS Group raised their price objective on shares of Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, Piper Sandler boosted their target price on Goosehead Insurance from $52.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $68.45.

Goosehead Insurance Trading Up 5.0%

The company’s 50-day moving average price is $62.44 and its two-hundred day moving average price is $49.96. The company has a market cap of $1.63 billion, a P/E ratio of 33.42, a price-to-earnings-growth ratio of 1.63 and a beta of 1.36.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.17. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The company had revenue of $95.63 million for the quarter, compared to analysts’ expectations of $103.30 million. During the same quarter in the previous year, the company posted $0.49 EPS. The business’s revenue was up 20.6% compared to the same quarter last year. Equities analysts forecast that Goosehead Insurance will post 1.46 earnings per share for the current year.

Institutional Trading of Goosehead Insurance

A number of large investors have recently added to or reduced their stakes in GSHD. Integrated Wealth Concepts LLC bought a new position in shares of Goosehead Insurance in the second quarter valued at $48,000. Baird Financial Group Inc. boosted its stake in shares of Goosehead Insurance by 15.6% during the 2nd quarter. Baird Financial Group Inc. now owns 7,541 shares of the company’s stock worth $366,000 after acquiring an additional 1,016 shares in the last quarter. Nykredit A S acquired a new position in shares of Goosehead Insurance in the 2nd quarter worth $50,000. Corient Private Wealth LP grew its holdings in shares of Goosehead Insurance by 123.7% in the 2nd quarter. Corient Private Wealth LP now owns 56,935 shares of the company’s stock worth $2,761,000 after acquiring an additional 31,483 shares during the last quarter. Finally, Compass Financial Management LLC acquired a new position in shares of Goosehead Insurance in the 2nd quarter worth $192,000.

About Goosehead Insurance

Goosehead Insurance, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchised locations. The company represents multiple insurance carriers, allowing its agents to compare coverage options and help customers select policies based on their individual needs.

Its product offerings include homeowners, auto, renters, flood, personal umbrella and other personal-lines insurance, along with selected commercial insurance products.