Wasatch Advisors LP Raises Stock Position in Goosehead Insurance, Inc (NASDAQ:GSHD)

Wasatch Advisors LP raised its stake in shares of Goosehead Insurance, Inc (NASDAQ:GSHD) by 17.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,101,847 shares of the company’s stock after purchasing an additional 308,312 shares during the period. Wasatch Advisors LP owned 5.54% of Goosehead Insurance worth $140,025,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State of Alaska Department of Revenue lifted its stake in Goosehead Insurance by 1.1% in the 4th quarter. State of Alaska Department of Revenue now owns 15,041 shares of the company’s stock valued at $1,140,000 after buying an additional 161 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Goosehead Insurance by 13.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,394 shares of the company’s stock valued at $106,000 after acquiring an additional 165 shares in the last quarter. Janney Capital Management LLC boosted its stake in shares of Goosehead Insurance by 3.2% in the fourth quarter. Janney Capital Management LLC now owns 5,805 shares of the company’s stock worth $440,000 after acquiring an additional 181 shares during the last quarter. Verdence Capital Advisors LLC increased its position in shares of Goosehead Insurance by 4.6% during the fourth quarter. Verdence Capital Advisors LLC now owns 5,529 shares of the company’s stock worth $419,000 after purchasing an additional 242 shares in the last quarter. Finally, Harbor Investment Advisory LLC raised its stake in Goosehead Insurance by 20.8% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,607 shares of the company’s stock valued at $107,000 after purchasing an additional 277 shares during the last quarter.

Insiders Place Their Bets

In other news, COO Mark Miller acquired 10,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was acquired at an average price of $58.06 per share, with a total value of $580,600.00. Following the completion of the transaction, the chief operating officer now directly owns 30,000 shares in the company, valued at approximately $1,741,800. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 38.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GSHD has been the subject of a number of analyst reports. BMO Capital Markets dropped their price target on Goosehead Insurance from $90.00 to $72.00 and set an “outperform” rating for the company in a research report on Tuesday, April 30th. Royal Bank of Canada restated an “outperform” rating and issued a $80.00 target price on shares of Goosehead Insurance in a report on Friday. Bank of America lifted their price target on Goosehead Insurance from $35.00 to $37.00 and gave the stock an “underperform” rating in a report on Tuesday, June 11th. Truist Financial dropped their price objective on shares of Goosehead Insurance from $70.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, April 25th. Finally, Piper Sandler cut their price objective on shares of Goosehead Insurance from $88.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.00.

Goosehead Insurance Price Performance

Shares of GSHD traded up $1.69 during trading hours on Tuesday, reaching $57.46. The company had a trading volume of 259,194 shares, compared to its average volume of 300,540. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.31. Goosehead Insurance, Inc has a 12-month low of $50.47 and a 12-month high of $92.76. The firm has a 50 day simple moving average of $59.97 and a 200-day simple moving average of $68.71. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 92.68, a PEG ratio of 3.74 and a beta of 1.36.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Wednesday, April 24th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. Goosehead Insurance had a net margin of 5.99% and a return on equity of 202.00%. The firm had revenue of $64.46 million during the quarter, compared to the consensus estimate of $66.24 million. Research analysts expect that Goosehead Insurance, Inc will post 0.7 earnings per share for the current year.

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.