Cresset Asset Management LLC Invests $401,000 in Goosehead Insurance $GSHD

Key Points

• Cresset Asset Management LLC has acquired a new stake of 3,400 shares in Goosehead Insurance, valued at approximately $401,000, during the first quarter.
• Several large investors, including HighTower Advisors LLC and Public Sector Pension Investment Board, have increased their stakes in Goosehead Insurance, signaling growing interest in the company.
• Goosehead Insurance's stock price target has been adjusted by multiple analysts, with BMO Capital Markets lowering it to $110 and Cantor Fitzgerald rating it as a "strong buy".

Cresset Asset Management LLC purchased a new position in Goosehead Insurance (NASDAQ:GSHD - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,400 shares of the company's stock, valued at approximately $401,000.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in Goosehead Insurance by 2.4% in the first quarter. Principal Financial Group Inc. now owns 121,654 shares of the company's stock worth $14,362,000 after acquiring an additional 2,800 shares during the period. Crossmark Global Holdings Inc. bought a new stake in Goosehead Insurance during the 1st quarter worth approximately $208,000. Bessemer Group Inc. increased its stake in shares of Goosehead Insurance by 192.9% in the first quarter. Bessemer Group Inc. now owns 290 shares of the company's stock worth $34,000 after purchasing an additional 191 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Goosehead Insurance in the first quarter worth $349,000. Finally, GAMMA Investing LLC increased its stake in shares of Goosehead Insurance by 11,900.8% in the first quarter. GAMMA Investing LLC now owns 72,725 shares of the company's stock worth $8,586,000 after purchasing an additional 72,119 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Goosehead Insurance from a "strong sell" rating to a "hold" rating in a research note on Monday. Keefe, Bruyette & Woods reduced their price objective on shares of Goosehead Insurance from $130.00 to $120.00 and set an "outperform" rating for the company in a research note on Thursday, July 24th. BMO Capital Markets reduced their price objective on shares of Goosehead Insurance from $142.00 to $110.00 and set a "market perform" rating for the company in a research note on Friday, July 25th. Cantor Fitzgerald raised shares of Goosehead Insurance to a "strong-buy" rating in a research note on Wednesday, August 13th. Finally, Piper Sandler reissued a "neutral" rating and issued a $109.00 price objective (down from $122.00) on shares of Goosehead Insurance in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $110.91.

Insider Transactions at Goosehead Insurance

In other Goosehead Insurance news, CFO Mark E. Jr. Jones acquired 1,149 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was bought at an average cost of $86.08 per share, with a total value of $98,905.92. Following the completion of the purchase, the chief financial officer directly owned 3,491 shares in the company, valued at $300,505.28. The trade was a 49.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Adrienne Kebodeaux sold 3,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $86.30, for a total transaction of $258,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 244,770 shares of company stock worth $21,568,721. Insiders own 48.35% of the company's stock.

Goosehead Insurance Price Performance

Shares of NASDAQ:GSHD traded down $1.61 during midday trading on Friday, reaching $84.84. 95,309 shares of the company were exchanged, compared to its average volume of 298,153. Goosehead Insurance has a one year low of $79.69 and a one year high of $130.39. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 2.10. The business's fifty day moving average is $93.96 and its two-hundred day moving average is $104.62. The stock has a market cap of $3.19 billion, a PE ratio of 74.91, a price-to-earnings-growth ratio of 7.40 and a beta of 1.31.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $94.03 million during the quarter, compared to the consensus estimate of $94.18 million. Goosehead Insurance had a net margin of 8.76% and a negative return on equity of 59.49%. The business's revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $0.43 EPS. Goosehead Insurance has set its FY 2025 guidance at EPS. As a group, analysts predict that Goosehead Insurance will post 0.83 earnings per share for the current year.

Goosehead Insurance Company Profile

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.