134,954 Shares in Goosehead Insurance $GSHD Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 134,954 Goosehead Insurance shares during the second quarter, valued at approximately $6.55 million and representing about 0.38% of the company.
• Goosehead reported quarterly earnings of $0.64 per share, beating estimates of $0.47, while revenue rose 20.6% year over year to $95.63 million but fell short of the $103.30 million consensus forecast.
• Analyst sentiment remains mixed: seven analysts rate the stock a Buy, six Hold, and one Sell, producing a consensus Hold rating and an average price target of $68.45.

Bank of New York Mellon Corp acquired a new position in shares of Goosehead Insurance (NASDAQ:GSHD - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 134,954 shares of the company's stock, valued at approximately $6,545,000. Bank of New York Mellon Corp owned approximately 0.38% of Goosehead Insurance as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its position in Goosehead Insurance by 484.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company's stock valued at $25,000 after purchasing an additional 426 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Goosehead Insurance by 480.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company's stock worth $34,000 after buying an additional 269 shares during the last quarter. Versant Capital Management Inc boosted its stake in Goosehead Insurance by 471.9% in the second quarter. Versant Capital Management Inc now owns 772 shares of the company's stock valued at $37,000 after buying an additional 637 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Goosehead Insurance in the fourth quarter valued at about $41,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Goosehead Insurance by 802.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company's stock valued at $47,000 after acquiring an additional 393 shares during the last quarter.

Goosehead Insurance Stock Performance

GSHD stock opened at $65.21 on Friday. The stock's 50 day simple moving average is $61.85 and its 200 day simple moving average is $49.50. Goosehead Insurance has a fifty-two week low of $33.68 and a fifty-two week high of $85.53. The company has a market cap of $2.32 billion, a P/E ratio of 47.60, a price-to-earnings-growth ratio of 2.39 and a beta of 1.36.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.17. The company had revenue of $95.63 million for the quarter, compared to analyst estimates of $103.30 million. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%.Goosehead Insurance's revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 earnings per share. Equities analysts predict that Goosehead Insurance will post 1.46 earnings per share for the current year.

Insider Buying and Selling at Goosehead Insurance

In related news, major shareholder Durable Capital Partners Lp purchased 36,256 shares of the business's stock in a transaction on Friday, July 31st. The stock was acquired at an average price of $61.92 per share, for a total transaction of $2,244,971.52. Following the purchase, the insider owned 2,570,260 shares of the company's stock, valued at approximately $159,150,499.20. This trade represents a 1.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 22,481 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $66.87, for a total value of $1,503,304.47. Following the sale, the insider directly owned 6,767,661 shares of the company's stock, valued at $452,553,491.07. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders purchased 189,979 shares of company stock valued at $11,348,632 and sold 267,000 shares valued at $18,056,139. Corporate insiders own 38.07% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GSHD. JPMorgan Chase & Co. increased their price objective on shares of Goosehead Insurance from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. UBS Group raised their price objective on Goosehead Insurance from $70.00 to $72.00 and gave the company a "buy" rating in a report on Monday, July 27th. Weiss Ratings upgraded Goosehead Insurance from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $76.00 target price on shares of Goosehead Insurance in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada increased their target price on Goosehead Insurance from $55.00 to $58.00 and gave the company a "sector perform" rating in a research report on Thursday, July 23rd. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $68.45.

About Goosehead Insurance

Goosehead Insurance NASDAQ: GSHD is a technology-driven insurance agency that connects consumers with a broad range of personal and commercial insurance products through an extensive network of independent insurance advisors. The company specializes in homeowners, auto, flood, dwelling fire, umbrella, life, and commercial lines coverage, working with multiple national and regional carriers to offer tailored policies. By combining advanced quoting tools with local market expertise, Goosehead streamlines the insurance shopping process and helps clients find competitive coverage options.

Founded in 2003 and headquartered in Westlake, Texas, Goosehead has grown its footprint across more than 40 states in the U.S.

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