Goosehead Insurance (NASDAQ:GSHD) Sets New 1-Year High at $94.34

Goosehead Insurance, Inc (NASDAQ:GSHD) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $94.34 and last traded at $93.78, with a volume of 209000 shares trading hands. The stock had previously closed at $88.95.

Analysts Set New Price Targets

Several research firms recently commented on GSHD. BMO Capital Markets downgraded shares of Goosehead Insurance from an “outperform” rating to a “market perform” rating and set a $90.00 price target on the stock. in a research note on Thursday, August 22nd. TD Cowen lowered Goosehead Insurance from a “buy” rating to a “hold” rating and lowered their price target for the company from $98.00 to $94.00 in a report on Thursday, August 15th. Truist Financial increased their price objective on Goosehead Insurance from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $84.00 target price (down from $85.00) on shares of Goosehead Insurance in a research report on Friday, July 26th. Finally, UBS Group increased their price target on Goosehead Insurance from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $80.40.

Goosehead Insurance Price Performance

The company has a market cap of $3.40 billion, a PE ratio of 144.32, a price-to-earnings-growth ratio of 4.60 and a beta of 1.35. The firm has a 50 day simple moving average of $85.48 and a 200-day simple moving average of $69.72. The company has a quick ratio of 1.14, a current ratio of 1.13 and a debt-to-equity ratio of 2.31.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. Goosehead Insurance had a net margin of 6.71% and a return on equity of 244.15%. The firm had revenue of $78.10 million for the quarter, compared to the consensus estimate of $74.31 million. During the same quarter in the previous year, the firm earned $0.25 EPS. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, research analysts predict that Goosehead Insurance, Inc will post 0.76 earnings per share for the current fiscal year.

Insider Transactions at Goosehead Insurance

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston sold 7,674 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $85.19, for a total value of $653,748.06. Following the completion of the sale, the insider now owns 5,000 shares of the company’s stock, valued at $425,950. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Chairman Mark Evan Jones sold 11,699 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $85.75, for a total value of $1,003,189.25. Following the transaction, the chairman now directly owns 39,451 shares of the company’s stock, valued at approximately $3,382,923.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Patrick Ryan Langston sold 7,674 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $85.19, for a total value of $653,748.06. Following the completion of the transaction, the insider now owns 5,000 shares of the company’s stock, valued at approximately $425,950. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,798 shares of company stock valued at $5,357,113. Corporate insiders own 48.35% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GSHD. Dimensional Fund Advisors LP boosted its position in Goosehead Insurance by 11.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 308,090 shares of the company’s stock valued at $23,354,000 after buying an additional 30,626 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Goosehead Insurance by 2.8% in the fourth quarter. Wells Fargo & Company MN now owns 144,353 shares of the company’s stock worth $10,942,000 after acquiring an additional 3,864 shares during the period. Alberta Investment Management Corp purchased a new position in shares of Goosehead Insurance during the fourth quarter worth $598,000. Capital International Investors lifted its position in Goosehead Insurance by 19.7% during the fourth quarter. Capital International Investors now owns 263,952 shares of the company’s stock valued at $20,008,000 after purchasing an additional 43,520 shares during the period. Finally, Ghisallo Capital Management LLC lifted its position in Goosehead Insurance by 63.7% during the fourth quarter. Ghisallo Capital Management LLC now owns 25,041 shares of the company’s stock valued at $1,898,000 after purchasing an additional 9,741 shares during the period.

About Goosehead Insurance

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that engages in the provision of personal lines insurance agency services in the United States. The company offers homeowner's, automotive, dwelling property, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services.