Oppenheimer Asset Management Inc. Raises Holdings in Goosehead Insurance, Inc (NASDAQ:GSHD)

Oppenheimer Asset Management Inc. lifted its stake in Goosehead Insurance, Inc (NASDAQ:GSHD) by 38.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,016 shares of the company’s stock after purchasing an additional 10,464 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Goosehead Insurance were worth $2,184,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in Goosehead Insurance by 13.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,394 shares of the company’s stock valued at $106,000 after purchasing an additional 165 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of Goosehead Insurance by 49.4% during the second quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company’s stock valued at $36,000 after buying an additional 210 shares during the last quarter. Harbor Investment Advisory LLC increased its position in shares of 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 acquiring an additional 277 shares during the period. Texas Permanent School Fund Corp raised its stake in Goosehead Insurance by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 21,398 shares of the company’s stock worth $1,426,000 after acquiring an additional 279 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in Goosehead Insurance by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 4,409 shares of the company’s stock worth $294,000 after acquiring an additional 299 shares during the period.

Insider Activity

In other news, Chairman Mark Evan Jones sold 14,030 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $82.96, for a total transaction of $1,163,928.80. Following the transaction, the chairman now owns 39,451 shares in the company, valued at approximately $3,272,854.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Goosehead Insurance news, major shareholder Patrick Ryan Langston sold 7,674 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $425,950. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Mark Evan Jones sold 14,030 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $82.96, for a total value of $1,163,928.80. Following the completion of the transaction, the chairman now owns 39,451 shares in the company, valued at approximately $3,272,854.96. The disclosure for this sale can be found here. Insiders sold 52,798 shares of company stock worth $4,454,640 over the last three months. 48.35% of the stock is currently owned by corporate insiders.

Goosehead Insurance Stock Up 0.2 %

GSHD stock opened at $87.42 on Wednesday. The firm has a market cap of $3.32 billion, a PE ratio of 141.00, a P/E/G ratio of 4.28 and a beta of 1.35. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.14 and a current ratio of 1.13. The firm’s fifty day moving average is $79.62 and its 200 day moving average is $68.78. Goosehead Insurance, Inc has a one year low of $50.47 and a one year high of $92.76.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Wednesday, July 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $78.10 million for the quarter, compared to analysts’ expectations of $74.31 million. Goosehead Insurance had a return on equity of 244.15% and a net margin of 6.71%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS. On average, research analysts forecast that Goosehead Insurance, Inc will post 0.75 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GSHD shares. Piper Sandler increased their price objective on Goosehead Insurance from $65.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Truist Financial lifted their price objective on shares of Goosehead Insurance from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $84.00 price objective (down from $85.00) on shares of Goosehead Insurance in a report on Friday, July 26th. JPMorgan Chase & Co. raised their target price on shares of Goosehead Insurance from $65.00 to $77.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, TD Cowen lowered shares of 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. One equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $80.40.

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.