Goosehead Insurance (NASDAQ:GSHD) Stock Jumps 8.5% – What’s Next?

Goosehead Insurance (NASDAQ:GSHD)’s share price rose 8.5% on Thursday. The company traded as high as $47.75 and last traded at $48.3710. 134,820 shares were traded during trading, a decline of 72% from the average session volume of 486,360 shares. The stock had previously closed at $44.60.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GSHD shares. Weiss Ratings cut shares of Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 18th. JPMorgan Chase & Co. dropped their price target on Goosehead Insurance from $68.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, October 1st. Truist Financial cut their price objective on Goosehead Insurance from $58.00 to $48.00 and set a “hold” rating for the company in a research report on Tuesday. Royal Bank Of Canada boosted their price target on shares of Goosehead Insurance from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 23rd. Finally, Texas Capital raised Goosehead Insurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $64.42.

Goosehead Insurance Stock Up 5.5%

The stock has a market capitalization of $1.67 billion, a PE ratio of 34.31, a price-to-earnings-growth ratio of 1.68 and a beta of 1.46. The stock’s 50 day moving average price is $57.82 and its 200-day moving average price is $50.04.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.17. The firm had revenue of $95.63 million for the quarter, compared to analysts’ expectations of $103.30 million. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. As a group, sell-side analysts predict that Goosehead Insurance will post 1.45 earnings per share for the current fiscal year.

Insider Transactions at Goosehead Insurance

In related news, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $65.03, for a total value of $325,150.00. Following the completion of the sale, the insider owned 58,530 shares in the company, valued at approximately $3,806,205.90. The trade was a 7.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Adrienne Kebodeaux sold 7,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $70.00, for a total value of $490,000.00. Following the transaction, the insider owned 273,027 shares in the company, valued at approximately $19,111,890. This represents a 2.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have bought 339,979 shares of company stock worth $18,446,632 and have sold 267,000 shares worth $18,056,139. Company insiders own 38.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GSHD. Wasatch Advisors LP raised its stake in Goosehead Insurance by 32.3% in the first quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock worth $97,786,000 after buying an additional 559,087 shares in the last quarter. Janus Henderson Group PLC boosted its position 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 acquiring an additional 376,114 shares in the last quarter. Bank of America Corp DE boosted its position in Goosehead Insurance by 28.2% during the 1st quarter. Bank of America Corp DE now owns 329,333 shares of the company’s stock valued at $14,049,000 after acquiring an additional 72,527 shares in the last quarter. 3G Capital Partners LP boosted its position in Goosehead Insurance by 80.0% during the 4th quarter. 3G Capital Partners LP now owns 225,000 shares of the company’s stock valued at $16,571,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Goosehead Insurance by 23.2% in the 1st quarter. Principal Financial Group Inc. now owns 219,745 shares of the company’s stock valued at $9,374,000 after acquiring an additional 41,334 shares during the period.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc is an independent insurance agency and distribution company that helps individuals and businesses shop for insurance coverage from a broad network of insurance carriers. The company uses a technology-enabled platform to provide quoting, policy management and customer service through its corporate operations and franchise network.

Goosehead offers a range of personal and commercial insurance products, including homeowners, automobile, renters, flood, umbrella and life insurance, along with coverage designed for small businesses and other commercial customers.