Goosehead Insurance $GSHD Shares Bought by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its holdings in Goosehead Insurance by 27.3%, owning approximately $9.13 million worth of shares as of the latest filing.
• Insider transactions included major shareholder Lindy Langston selling 2,853 shares at an average price of $110.16, and Robyn Jones Descendants Mark selling 45,998 shares at an average price of $86.44.
• Analyst ratings for Goosehead Insurance have shifted, with target prices varying between $98.00 (JPMorgan) and $150.00 (JMP Securities), reflecting a mixed outlook despite a recent stock performance increase of 5.4%.

Public Sector Pension Investment Board lifted its holdings in Goosehead Insurance (NASDAQ:GSHD - Free Report) by 27.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,334 shares of the company's stock after buying an additional 16,570 shares during the period. Public Sector Pension Investment Board owned about 0.21% of Goosehead Insurance worth $9,130,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GSHD. Bessemer Group Inc. lifted its position in shares of Goosehead Insurance by 192.9% in the 1st quarter. Bessemer Group Inc. now owns 290 shares of the company's stock worth $34,000 after purchasing an additional 191 shares during the period. TCTC Holdings LLC increased its stake in shares of Goosehead Insurance by 117.1% in the first quarter. TCTC Holdings LLC now owns 330 shares of the company's stock worth $39,000 after acquiring an additional 178 shares during the period. Larson Financial Group LLC boosted its holdings in Goosehead Insurance by 1,251.6% during the first quarter. Larson Financial Group LLC now owns 419 shares of the company's stock worth $49,000 after buying an additional 388 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Goosehead Insurance during the first quarter worth $53,000. Finally, Simplex Trading LLC purchased a new position in Goosehead Insurance during the first quarter valued at $88,000.

Wall Street Analysts Forecast Growth

GSHD has been the topic of several recent analyst reports. BMO Capital Markets decreased their price objective on shares of Goosehead Insurance from $142.00 to $110.00 and set a "market perform" rating on the stock in a report on Friday, July 25th. Piper Sandler reiterated a "neutral" rating and set a $109.00 price target (down from $122.00) on shares of Goosehead Insurance in a research report on Thursday, July 24th. JMP Securities reissued a "market outperform" rating and issued a $150.00 price objective on shares of Goosehead Insurance in a research note on Thursday, April 24th. Keefe, Bruyette & Woods decreased their price target 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of Goosehead Insurance from $100.00 to $98.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Goosehead Insurance has an average rating of "Hold" and an average price target of $110.91.

Insider Activity

In other Goosehead Insurance news, CFO Mark E. Jr. Jones bought 1,149 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average cost of $86.08 per share, with a total value of $98,905.92. Following the acquisition, the chief financial officer directly owned 3,491 shares of the company's stock, valued at $300,505.28. The trade was a 49.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder & Robyn Jones Descendants Mark sold 60,000 shares of Goosehead Insurance stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $88.23, for a total transaction of $5,293,800.00. Following the completion of the transaction, the insider directly owned 132,349 shares in the company, valued at $11,677,152.27. The trade was a 31.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 234,779 shares of company stock valued at $21,036,484 in the last ninety days. 37.76% of the stock is currently owned by company insiders.

Goosehead Insurance Stock Up 1.4%

Shares of NASDAQ:GSHD traded up $1.17 during trading on Monday, hitting $87.23. 153,438 shares of the company were exchanged, compared to its average volume of 302,087. The stock has a market capitalization of $3.28 billion, a P/E ratio of 77.26, a PEG ratio of 7.37 and a beta of 1.31. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.92 and a quick ratio of 2.92. Goosehead Insurance has a 12-month low of $79.33 and a 12-month high of $130.39. The firm's 50 day moving average price is $96.97 and its 200-day moving average price is $105.90.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). The business had revenue of $94.03 million during the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.43 earnings per share. On average, research analysts predict that Goosehead Insurance will post 0.83 earnings per share for the current fiscal year.

Goosehead Insurance 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.