Goosehead Insurance (NASDAQ:GSHD) Trading 4.5% Higher - Here's What Happened

Key Points

• Goosehead Insurance shares rose 4.5% on Friday, trading as high as $37.82 after closing at $35.82 the prior session. Volume was far below normal, with about 19,558 shares changing hands versus an average of 468,911.
• Wall Street sentiment remains mixed: several firms lowered price targets, while the stock’s current consensus rating is Hold with an average price target of $66.73. Analysts now range from Buy to Sell on the name.
• The company recently reported better-than-expected earnings of $0.37 per share, though revenue came in below estimates at $79.48 million. Goosehead also posted 23.1% year-over-year revenue growth, while insider activity has been mixed with both notable selling and buying.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report)'s stock price was up 4.5% on Friday . The company traded as high as $37.82 and last traded at $37.4360. Approximately 19,558 shares changed hands during trading, a decline of 96% from the average daily volume of 468,911 shares. The stock had previously closed at $35.82.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GSHD shares. Bank of America cut their target price on shares of Goosehead Insurance from $43.00 to $37.00 and set an "underperform" rating on the stock in a report on Tuesday, April 14th. Piper Sandler dropped their price target on Goosehead Insurance from $60.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 26th. Royal Bank Of Canada raised their price target on Goosehead Insurance from $49.00 to $52.00 and gave the stock a "sector perform" rating in a report on Thursday, April 23rd. Weiss Ratings lowered Goosehead Insurance from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, April 20th. Finally, Citizens Jmp reduced their price objective on Goosehead Insurance from $125.00 to $100.00 and set a "market outperform" rating for the company in a research report on Monday, April 13th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Goosehead Insurance currently has an average rating of "Hold" and an average price target of $66.73.

Goosehead Insurance Trading Up 6.3%

The stock has a market capitalization of $1.36 billion, a P/E ratio of 33.39, a P/E/G ratio of 1.19 and a beta of 1.52. The company's 50-day moving average is $41.71 and its two-hundred day moving average is $55.68.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last posted its earnings results on Thursday, April 23rd. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.20 by $0.17. The firm had revenue of $79.48 million during the quarter, compared to analysts' expectations of $105.16 million. Goosehead Insurance had a net margin of 7.94% and a negative return on equity of 20.96%. Goosehead Insurance's quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 EPS. Sell-side analysts expect that Goosehead Insurance will post 1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder & Robyn Jones Descendants Mark sold 82,689 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $41.77, for a total value of $3,453,919.53. Following the sale, the insider directly owned 7,050,356 shares in the company, valued at $294,493,370.12. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Patrick Ryan Langston purchased 2,800 shares of Goosehead Insurance stock in a transaction on Friday, May 29th. The shares were acquired at an average price of $35.56 per share, with a total value of $99,568.00. Following the transaction, the insider directly owned 7,800 shares in the company, valued at $277,368. This trade represents a 56.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 12,800 shares of company stock valued at $480,718 and sold 219,192 shares valued at $9,092,267. 38.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in Goosehead Insurance by 28.2% in the 1st quarter. Bank of America Corp DE now owns 329,333 shares of the company's stock valued at $14,049,000 after buying an additional 72,527 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Goosehead Insurance by 3,485.1% during the 1st quarter. Janus Henderson Group PLC now owns 386,906 shares of the company's stock worth $16,506,000 after buying an additional 376,114 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Goosehead Insurance by 45.6% in the 1st quarter. California State Teachers Retirement System now owns 35,351 shares of the company's stock worth $1,508,000 after acquiring an additional 11,072 shares during the period. Royal Bank of Canada lifted its stake in shares of Goosehead Insurance by 8.9% in the 1st quarter. Royal Bank of Canada now owns 73,306 shares of the company's stock worth $3,127,000 after acquiring an additional 5,965 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in shares of Goosehead Insurance by 52.7% in the first quarter. Quantinno Capital Management LP now owns 31,878 shares of the company's stock valued at $1,360,000 after acquiring an additional 11,003 shares in the last quarter.

Goosehead Insurance Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.