M&T Bank Corp Increases Holdings in Goosehead Insurance $GSHD

Key Points

• M&T Bank Corp increased its stake in Goosehead by 1,075.4% in Q4 to 115,834 shares (about $8.53 million), representing roughly 0.31% of the company.
• Director Louis Goldberg purchased 5,575 shares at $44.85 on Feb. 20, and insiders collectively own 38.07% of Goosehead's stock.
• Goosehead beat EPS estimates ($0.37 vs. $0.20) but missed revenue expectations ($79.48M vs. $105.16M); analysts' consensus is a Hold with an average price target of $67.36.

M&T Bank Corp raised its stake in shares of Goosehead Insurance (NASDAQ:GSHD - Free Report) by 1,075.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,834 shares of the company's stock after buying an additional 105,979 shares during the quarter. M&T Bank Corp owned about 0.31% of Goosehead Insurance worth $8,531,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in Goosehead Insurance by 480.4% during the second quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company's stock valued at $34,000 after buying an additional 269 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Goosehead Insurance by 802.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company's stock valued at $47,000 after buying an additional 393 shares during the last quarter. Fifth Third Bancorp raised its stake in Goosehead Insurance by 71.4% during the third quarter. Fifth Third Bancorp now owns 682 shares of the company's stock valued at $51,000 after buying an additional 284 shares during the last quarter. Covestor Ltd raised its stake in Goosehead Insurance by 52.3% during the third quarter. Covestor Ltd now owns 1,177 shares of the company's stock valued at $88,000 after buying an additional 404 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Goosehead Insurance during the fourth quarter valued at $88,000.

Insider Transactions at Goosehead Insurance

In related news, Director Louis Goldberg purchased 5,575 shares of the business's stock in a transaction on Friday, February 20th. The stock was acquired at an average price of $44.85 per share, with a total value of $250,038.75. Following the completion of the acquisition, the director owned 5,575 shares of the company's stock, valued at approximately $250,038.75. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 38.07% of the company's stock.

Analyst Upgrades and Downgrades

GSHD has been the subject of a number of recent research reports. Citigroup reiterated an "outperform" rating on shares of Goosehead Insurance in a research note on Wednesday, February 18th. Keefe, Bruyette & Woods lifted their target price on Goosehead Insurance from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday. Royal Bank Of Canada lifted their target price on Goosehead Insurance from $49.00 to $52.00 and gave the stock a "sector perform" rating in a report on Thursday. Bank of America reduced their target price on Goosehead Insurance from $43.00 to $37.00 and set an "underperform" rating for the company in a report on Tuesday, April 14th. Finally, Piper Sandler reduced their target price on Goosehead Insurance from $69.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Goosehead Insurance currently has an average rating of "Hold" and a consensus price target of $67.36.

Goosehead Insurance Stock Performance

NASDAQ:GSHD opened at $48.26 on Friday. The stock has a 50-day simple moving average of $45.60 and a two-hundred day simple moving average of $61.24. Goosehead Insurance has a 52-week low of $39.64 and a 52-week high of $114.76. The firm has a market capitalization of $1.77 billion, a PE ratio of 42.33, a P/E/G ratio of 3.70 and a beta of 1.69.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.17. Goosehead Insurance had a negative return on equity of 20.96% and a net margin of 7.94%.The business had revenue of $79.48 million during the quarter, compared to analyst estimates of $105.16 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. Goosehead Insurance's revenue for the quarter was up 23.1% on a year-over-year basis. Equities analysts forecast that Goosehead Insurance will post 1.27 earnings per share for the current fiscal year.

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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