Mechanics Bank Trust Department Invests $218,000 in Goosehead Insurance, Inc (NASDAQ:GSHD)

Mechanics Bank Trust Department acquired a new stake in Goosehead Insurance, Inc (NASDAQ:GSHD) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,443 shares of the company’s stock, valued at approximately $218,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Goldman Sachs Group Inc. grew its stake in Goosehead Insurance by 14.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 294,977 shares of the company’s stock valued at $22,359,000 after acquiring an additional 37,805 shares during the period. Vanguard Group Inc. grew its position in shares of Goosehead Insurance by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 2,369,254 shares of the company’s stock valued at $179,589,000 after purchasing an additional 36,676 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Goosehead Insurance by 13.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,394 shares of the company’s stock worth $106,000 after purchasing an additional 165 shares in the last quarter. Harbor Investment Advisory LLC raised its position in shares of Goosehead Insurance by 20.8% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,607 shares of the company’s stock worth $107,000 after purchasing an additional 277 shares during the last quarter. Finally, Wasatch Advisors LP raised its position in shares of Goosehead Insurance by 17.2% during the 1st quarter. Wasatch Advisors LP now owns 2,101,847 shares of the company’s stock worth $140,025,000 after purchasing an additional 308,312 shares during the last quarter.

Insider Activity

In related 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 transaction of $653,748.06. Following the completion of the sale, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $425,950. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Patrick Ryan Langston sold 7,674 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $85.19, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Mark Evan Jones sold 10,418 shares of Goosehead Insurance stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $85.88, for a total transaction of $894,697.84. Following the completion of the sale, the chairman now owns 39,451 shares of the company’s stock, valued at $3,388,051.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,798 shares of company stock valued at $5,357,113 in the last quarter. Insiders own 48.35% of the company’s stock.

Analyst Ratings Changes

GSHD has been the subject of several research reports. TD Cowen lowered Goosehead Insurance from a “buy” rating to a “hold” rating and cut their price objective for the stock from $98.00 to $94.00 in a research note on Thursday, August 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $84.00 price target (down from $85.00) on shares of Goosehead Insurance in a research report on Friday, July 26th. UBS Group raised their price objective on Goosehead Insurance from $92.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Piper Sandler lifted their target price on shares of Goosehead Insurance from $65.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Truist Financial increased their target price on shares of Goosehead Insurance from $65.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $81.90.

Goosehead Insurance Price Performance

Goosehead Insurance stock opened at $90.48 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.14 and a debt-to-equity ratio of 2.31. The stock has a market cap of $3.44 billion, a P/E ratio of 145.94, a PEG ratio of 4.72 and a beta of 1.35. The company has a 50-day moving average price of $86.14 and a 200 day moving average price of $70.77. Goosehead Insurance, Inc has a 12-month low of $50.47 and a 12-month high of $94.90.

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

Goosehead Insurance Company Profile

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.