Verition Fund Management LLC Takes $616,000 Position in Goosehead Insurance, Inc (NASDAQ:GSHD)

Verition Fund Management LLC bought a new position in Goosehead Insurance, Inc (NASDAQ:GSHD) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 6,893 shares of the company’s stock, valued at approximately $616,000.

Other hedge funds have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Goosehead Insurance in the third quarter worth about $29,000. GAMMA Investing LLC increased its stake in Goosehead Insurance by 195.8% in the 3rd quarter. GAMMA Investing LLC now owns 349 shares of the company’s stock worth $31,000 after purchasing an additional 231 shares during the period. Cullen Frost Bankers Inc. boosted its stake 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 purchasing an additional 210 shares during the period. Blue Trust Inc. boosted its stake in shares of Goosehead Insurance by 567.6% during the third quarter. Blue Trust Inc. now owns 474 shares of the company’s stock valued at $42,000 after purchasing an additional 403 shares during the period. Finally, Quarry LP grew its holdings in shares of Goosehead Insurance by 2,810.7% in the second quarter. Quarry LP now owns 815 shares of the company’s stock worth $47,000 after purchasing an additional 787 shares during the last quarter.

Insider Buying and Selling at Goosehead Insurance

In other Goosehead Insurance news, CEO Mark Miller sold 58,327 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $110.22, for a total value of $6,428,801.94. Following the sale, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at approximately $3,306,600. The trade was a 66.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Patrick Ryan Langston sold 2,167 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $90.09, for a total value of $195,225.03. Following the transaction, the insider now owns 5,000 shares of the company’s stock, valued at $450,450. The trade was a 30.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 122,255 shares of company stock valued at $12,686,800. Corporate insiders own 48.35% of the company’s stock.

Wall Street Analyst Weigh In

GSHD has been the subject of several analyst reports. Piper Sandler increased their price target on shares of Goosehead Insurance from $103.00 to $122.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. JMP Securities increased their target price on shares of Goosehead Insurance from $100.00 to $115.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. TD Cowen upped their price target on Goosehead Insurance from $94.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, November 20th. Truist Financial lifted their price objective on Goosehead Insurance from $65.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, Royal Bank of Canada upped their target price on Goosehead Insurance from $95.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One investment 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $97.90.

Goosehead Insurance Trading Down 2.2 %

NASDAQ GSHD opened at $117.33 on Wednesday. The stock’s 50 day moving average is $109.88 and its 200 day moving average is $86.53. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 37.70. The firm has a market capitalization of $4.35 billion, a PE ratio of 162.96, a P/E/G ratio of 4.78 and a beta of 1.38. Goosehead Insurance, Inc has a twelve month low of $50.47 and a twelve month high of $130.39.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Wednesday, October 23rd. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. Goosehead Insurance had a net margin of 6.77% and a return on equity of 284.41%. The firm had revenue of $78.04 million for the quarter, compared to the consensus estimate of $80.54 million. During the same period in the prior year, the firm earned $0.28 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. Research analysts forecast that Goosehead Insurance, Inc will post 0.84 earnings per share for the current fiscal 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.