Goosehead Insurance (NASDAQ:GSHD) Major Shareholder Acquires 150,000 Shares of Company Stock

Goosehead Insurance (NASDAQ:GSHD) major shareholder Durable Capital Partners Lp purchased 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was bought at an average cost of $47.32 per share, with a total value of $7,098,000.00. Following the completion of the purchase, the insider owned 2,720,260 shares of the company’s stock, valued at $128,722,703.20. This represents a 5.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Durable Capital Partners Lp also recently made the following trade(s):

• On Friday, July 31st, Durable Capital Partners Lp acquired 36,256 shares of Goosehead Insurance stock. The stock was bought at an average price of $61.92 per share, with a total value of $2,244,971.52.
• On Monday, July 27th, Durable Capital Partners Lp acquired 40,077 shares of Goosehead Insurance stock. The shares were purchased at an average cost of $61.72 per share, for a total transaction of $2,473,552.44.
• On Friday, July 24th, Durable Capital Partners Lp bought 113,646 shares of Goosehead Insurance stock. The shares were purchased at an average price of $58.34 per share, for a total transaction of $6,630,107.64.

Goosehead Insurance Trading Up 0.3%

Shares of GSHD stock traded up $0.13 during midday trading on Thursday, reaching $43.65. 734,015 shares of the stock were exchanged, compared to its average volume of 492,463. Goosehead Insurance has a 1 year low of $33.68 and a 1 year high of $79.85. The firm has a market cap of $1.55 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 1.63 and a beta of 1.36. The company’s 50 day moving average is $62.67 and its two-hundred day moving average is $50.01.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.17. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%.The company had revenue of $95.63 million during the quarter, compared to analysts’ expectations of $103.30 million. During the same quarter last year, the business posted $0.49 EPS. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, equities analysts expect that Goosehead Insurance will post 1.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $76.00 target price on shares of Goosehead Insurance in a report on Thursday, July 23rd. Royal Bank Of Canada increased 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 note on Thursday, July 23rd. UBS Group lifted their price target on shares of Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods dropped their price objective on shares of Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Finally, Weiss Ratings cut shares of Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 18th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $68.45.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP boosted its holdings 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 acquiring an additional 559,087 shares in the last quarter. Langdon Equity Partners bought a new position in shares of Goosehead Insurance during the fourth quarter valued at $41,892,000. Janus Henderson Group PLC increased its holdings in shares of Goosehead Insurance by 3,485.1% during the first 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. Akre Capital Management LLC increased its holdings in shares of Goosehead Insurance by 1.4% during the fourth quarter. Akre Capital Management LLC now owns 371,096 shares of the company’s stock valued at $27,331,000 after acquiring an additional 4,971 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Goosehead Insurance by 28.2% in the 1st quarter. Bank of America Corp DE now owns 329,333 shares of the company’s stock worth $14,049,000 after purchasing an additional 72,527 shares during the last quarter.

Goosehead Insurance Company Profile

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.