Corient Private Wealth LP Grows Holdings in Goosehead Insurance $GSHD

Key Points

• Corient Private Wealth LP increased its Goosehead Insurance stake by 123.7% in the second quarter, ending with 56,935 shares valued at approximately $2.76 million.
• Other institutional investors also raised or initiated positions, while insiders bought 189,979 shares and sold 267,000 shares during the latest quarter; insiders own 38.07% of the company.
• Goosehead shares opened at $51.70, down 5.2%, despite the company reporting quarterly EPS of $0.64—above estimates of $0.47—and 20.6% year-over-year revenue growth. Analysts maintain a consensus “Hold” rating with a $68.45 target price.

Corient Private Wealth LP boosted its stake in Goosehead Insurance (NASDAQ:GSHD - Free Report) by 123.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 56,935 shares of the company's stock after acquiring an additional 31,483 shares during the quarter. Corient Private Wealth LP owned 0.16% of Goosehead Insurance worth $2,761,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the company. Wasatch Advisors LP raised its holdings in shares of Goosehead Insurance by 32.3% during the 1st quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company's stock worth $97,786,000 after acquiring an additional 559,087 shares during the period. Langdon Equity Partners purchased a new stake in shares of Goosehead Insurance in the fourth quarter valued at about $41,892,000. Janus Henderson Group PLC raised its stake in Goosehead Insurance by 3,485.1% during the first quarter. Janus Henderson Group PLC now owns 386,906 shares of the company's stock worth $16,506,000 after purchasing an additional 376,114 shares during the period. Bank of New York Mellon Corp purchased a new position in Goosehead Insurance during the second quarter worth about $6,545,000. Finally, 3G Capital Partners LP boosted its holdings in Goosehead Insurance by 80.0% in the 4th quarter. 3G Capital Partners LP now owns 225,000 shares of the company's stock valued at $16,571,000 after purchasing an additional 100,000 shares during the last quarter.

Insider Buying and Selling

In other Goosehead Insurance news, major shareholder Durable Capital Partners Lp acquired 36,256 shares of the stock in a transaction on Friday, July 31st. The shares were bought at an average price of $61.92 per share, with a total value of $2,244,971.52. Following the acquisition, the insider owned 2,570,260 shares of the company's stock, valued at $159,150,499.20. This trade represents a 1.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of the business's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $65.03, for a total transaction of $325,150.00. Following the sale, the insider directly owned 58,530 shares in the company, valued at approximately $3,806,205.90. This represents a 7.87% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders bought 189,979 shares of company stock valued at $11,348,632 and sold 267,000 shares valued at $18,056,139. Insiders own 38.07% of the company's stock.

Goosehead Insurance Stock Down 5.2%

Shares of NASDAQ:GSHD opened at $51.70 on Tuesday. The firm's 50 day moving average price is $62.92 and its 200 day moving average price is $50.10. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 37.74, a price-to-earnings-growth ratio of 1.94 and a beta of 1.36. Goosehead Insurance has a fifty-two week low of $33.68 and a fifty-two week high of $80.03.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.17. The company had revenue of $95.63 million for the quarter, compared to the consensus estimate of $103.30 million. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The company's quarterly revenue was up 20.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. On average, equities analysts anticipate that Goosehead Insurance will post 1.46 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Cantor Fitzgerald restated an "overweight" rating and set a $76.00 target price on shares of Goosehead Insurance in a report on Thursday, July 23rd. Keefe, Bruyette & Woods cut their price target on shares of Goosehead Insurance from $80.00 to $72.00 and set an "outperform" rating on the stock in a research note on Thursday, July 23rd. Royal Bank Of Canada raised their price objective on shares of Goosehead Insurance from $55.00 to $58.00 and gave the company a "sector perform" rating in a research note on Thursday, July 23rd. Piper Sandler lifted their price objective on shares of Goosehead Insurance from $52.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Goosehead Insurance from $55.00 to $60.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $68.45.

About Goosehead Insurance

Goosehead Insurance, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchised locations. The company represents multiple insurance carriers, allowing its agents to compare coverage options and help customers select policies based on their individual needs.

Its product offerings include homeowners, auto, renters, flood, personal umbrella and other personal-lines insurance, along with selected commercial insurance products.

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