Goosehead Insurance (NASDAQ:GSHD) Stock Jumps 7.2% – Still a Buy?

Goosehead Insurance (NASDAQ:GSHD)’s share price shot up 7.2% during trading on Thursday. The stock traded as high as $47.73 and last traded at $48.5650. 181,241 shares traded hands during trading, a decline of 63% from the average session volume of 483,910 shares. The stock had previously closed at $45.32.

Wall Street Analyst Weigh In

GSHD has been the subject of a number of research analyst reports. Zacks Research cut Goosehead Insurance from a “hold” rating to a “strong sell” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft set a $80.00 price objective on Goosehead Insurance in a report on Monday, October 12th. Royal Bank Of Canada boosted their price objective on Goosehead Insurance from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. lowered their target price 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. Finally, UBS Group raised their target price on shares of Goosehead Insurance from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six 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 a consensus rating of “Hold” and a consensus target price of $64.42.

Goosehead Insurance Price Performance

The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 1.91 and a beta of 1.46. The firm has a 50-day moving average price of $55.18 and a two-hundred day moving average price of $50.23.

Goosehead Insurance (NASDAQ:GSHD) last announced its earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.17. The business had revenue of $95.63 million for the quarter, compared to analyst estimates of $103.30 million. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%. Goosehead Insurance’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 EPS. On average, equities analysts predict that Goosehead Insurance will post 1.45 EPS for the current year.

Insider Buying and Selling at Goosehead Insurance

In other news, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $65.03, for a total value of $325,150.00. Following the sale, the insider owned 58,530 shares of the company’s stock, valued at $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 SEC, which can be accessed through the SEC website. Also, major shareholder Adrienne Kebodeaux sold 7,000 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $70.00, for a total transaction of $490,000.00. Following the transaction, the insider owned 273,027 shares of the company’s stock, valued at $19,111,890. The trade was a 2.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have purchased 226,333 shares of company stock valued at $11,816,524 and have sold 267,000 shares valued at $18,056,139. Insiders own 38.07% of the company’s stock.

Institutional Trading of Goosehead Insurance

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its stake in 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 purchasing an additional 41,334 shares during the last quarter. Wesbanco Bank Inc. lifted its holdings in Goosehead Insurance by 226.5% during the 1st quarter. Wesbanco Bank Inc. now owns 32,000 shares of the company’s stock worth $1,365,000 after buying an additional 22,200 shares during the period. Corient Private Wealth LP boosted its holdings in Goosehead Insurance by 123.7% in the second quarter. Corient Private Wealth LP now owns 56,935 shares of the company’s stock valued at $2,761,000 after acquiring an additional 31,483 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of Goosehead Insurance by 32.3% in the 1st quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock valued at $97,786,000 after purchasing an additional 559,087 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Goosehead Insurance by 3,485.1% in 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, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchise locations. The company uses technology and relationships with multiple insurance carriers to help customers compare coverage options and select policies suited to their needs.

Its offerings primarily include homeowners, automobile, renters, flood, umbrella and other personal insurance products, along with selected commercial insurance solutions.