Daiwa Securities Group Inc. Acquires 8,193 Shares of Goosehead Insurance, Inc (NASDAQ:GSHD)

Daiwa Securities Group Inc. boosted its holdings in Goosehead Insurance, Inc (NASDAQ:GSHD) by 30.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,118 shares of the company’s stock after purchasing an additional 8,193 shares during the period. Daiwa Securities Group Inc.’s holdings in Goosehead Insurance were worth $2,017,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. bought a new position in Goosehead Insurance in the first quarter valued at $35,000. Cullen Frost Bankers Inc. grew its position in shares of Goosehead Insurance by 49.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company’s stock valued at $36,000 after acquiring an additional 210 shares during the period. CENTRAL TRUST Co bought a new position in shares of Goosehead Insurance in the 1st quarter valued at about $67,000. RiverPark Advisors LLC bought a new position in shares of Goosehead Insurance in the 1st quarter valued at about $104,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Goosehead Insurance by 13.4% in the 4th 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 during the period.

Wall Street Analyst Weigh In

GSHD has been the subject of a number of analyst reports. BMO Capital Markets downgraded shares of Goosehead Insurance from an “outperform” rating to a “market perform” rating and set a $90.00 price objective for the company. in a research report on Thursday, August 22nd. Piper Sandler raised 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. UBS Group raised their target price on shares of Goosehead Insurance from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods restated an “outperform” rating and set a $84.00 target price (down previously from $85.00) on shares of Goosehead Insurance in a research note on Friday, July 26th. Finally, Bank of America raised their target price on shares of Goosehead Insurance from $35.00 to $37.00 and gave the stock an “underperform” rating in a research note on Tuesday, June 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $80.40.

Goosehead Insurance Price Performance

Shares of Goosehead Insurance stock opened at $89.20 on Friday. Goosehead Insurance, Inc has a twelve month low of $50.47 and a twelve month high of $92.76. The company has a quick ratio of 1.14, a current ratio of 1.13 and a debt-to-equity ratio of 2.31. The company has a 50-day simple moving average of $79.00 and a two-hundred day simple moving average of $68.75. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 143.87, a price-to-earnings-growth ratio of 4.28 and a beta of 1.35.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. The business had revenue of $78.10 million during the quarter, compared to analysts’ expectations 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 was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 EPS. Analysts forecast that Goosehead Insurance, Inc will post 0.75 EPS for the current year.

Insider Activity

In other news, Chairman Mark Evan Jones sold 8,977 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $82.33, for a total value of $739,076.41. Following the completion of the transaction, the chairman now directly owns 39,451 shares in the company, valued at approximately $3,248,000.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Patrick Ryan Langston sold 7,674 shares of Goosehead Insurance 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 sale, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $425,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark Evan Jones sold 8,977 shares of Goosehead Insurance stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $82.33, for a total transaction of $739,076.41. Following the sale, the chairman now directly owns 39,451 shares in the company, valued at $3,248,000.83. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,798 shares of company stock worth $4,454,640. 48.35% of the stock is currently owned by corporate insiders.

Goosehead Insurance 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.