Goosehead Insurance (NASDAQ:GSHD) Given “Market Outperform” Rating at JMP Securities

Goosehead Insurance (NASDAQ:GSHD)‘s stock had its “market outperform” rating restated by equities researchers at JMP Securities in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $100.00 target price on the stock. JMP Securities’ price objective would suggest a potential upside of 0.60% from the company’s current price.

GSHD has been the subject of a number of other reports. Royal Bank of Canada reiterated an “outperform” rating and set a $80.00 target price on shares of Goosehead Insurance in a report on Thursday, July 25th. TD Cowen cut shares of Goosehead Insurance from a “buy” rating to a “hold” rating and cut their price target for the company from $98.00 to $94.00 in a report on Thursday, August 15th. Truist Financial raised their target price on shares of Goosehead Insurance from $65.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $84.00 price target (down previously from $85.00) on shares of Goosehead Insurance in a research note on Friday, July 26th. Finally, Piper Sandler raised their price objective on shares of Goosehead Insurance from $72.00 to $94.00 and gave the company an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $84.10.

Goosehead Insurance Trading Up 3.6 %

Shares of GSHD stock opened at $99.40 on Tuesday. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 160.32, a PEG ratio of 4.72 and a beta of 1.35. Goosehead Insurance has a 1 year low of $50.47 and a 1 year high of $100.15. The company’s fifty day simple moving average is $86.84 and its two-hundred day simple moving average is $71.37. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.13 and a quick ratio of 1.14.

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

Insider Transactions at Goosehead Insurance

In related news, major shareholder Patrick Ryan Langston sold 10,000 shares of Goosehead Insurance stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $95.35, for a total transaction of $953,500.00. Following the completion of the transaction, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $476,750. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Mark Evan Jones sold 14,030 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $82.96, for a total transaction of $1,163,928.80. Following the transaction, the chairman now directly owns 39,451 shares in the company, valued at approximately $3,272,854.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Patrick Ryan Langston sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $95.35, for a total transaction of $953,500.00. Following the sale, the insider now directly owns 5,000 shares of the company’s stock, valued at $476,750. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,798 shares of company stock worth $6,310,613 in the last three months. Insiders own 48.35% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GSHD. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Goosehead Insurance by 34.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,428,907 shares of the company’s stock worth $196,956,000 after purchasing an additional 879,959 shares during the last quarter. Vanguard Group Inc. raised its stake in Goosehead Insurance by 2.0% during the first quarter. Vanguard Group Inc. now owns 2,416,115 shares of the company’s stock worth $160,962,000 after purchasing an additional 46,861 shares during the period. Wasatch Advisors LP raised its stake in shares of Goosehead Insurance by 17.2% in the 1st quarter. Wasatch Advisors LP now owns 2,101,847 shares of the company’s stock valued at $140,025,000 after acquiring an additional 308,312 shares during the period. Motley Fool Asset Management LLC raised its stake in shares of Goosehead Insurance by 407.4% in the 1st quarter. Motley Fool Asset Management LLC now owns 533,500 shares of the company’s stock valued at $35,542,000 after acquiring an additional 428,355 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Goosehead Insurance by 35.7% in the second quarter. American Century Companies Inc. now owns 420,934 shares of the company’s stock valued at $24,179,000 after purchasing an additional 110,832 shares in the last quarter.

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.