Insider Buying: Goosehead Insurance (NASDAQ:GSHD) CFO Buys 1,149 Shares of Stock

Key Points

• Goosehead Insurance's CFO, Mark E. Jr. Jones, purchased 1,149 shares at $86.08 each, increasing his ownership by 49.06% to a total of 3,491 shares valued at approximately $300,505.28.
• Shares of Goosehead Insurance rose 5.4% to $91.45, with a market capitalization of $3.43 billion, despite the company reporting earnings per share that missed consensus estimates.
• Analysts have revised their price targets for the stock, with a consensus target now at $109.50, showing mixed ratings from “buy” to “hold” and even a “sell” from one analyst.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) CFO Mark E. Jr. Jones acquired 1,149 shares of Goosehead Insurance stock in a transaction on Tuesday, July 29th. The shares were bought at an average price of $86.08 per share, for a total transaction 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Goosehead Insurance Stock Down 5.7%

Shares of Goosehead Insurance stock traded down $5.19 during midday trading on Friday, hitting $85.72. The company's stock had a trading volume of 735,483 shares, compared to its average volume of 362,981. The firm has a market capitalization of $3.22 billion, a P/E ratio of 75.86, a PEG ratio of 7.98 and a beta of 1.31. Goosehead Insurance has a 1-year low of $79.33 and a 1-year high of $130.39. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 2.10. The stock has a 50-day simple moving average of $101.53 and a 200-day simple moving average of $107.29.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). Goosehead Insurance had a net margin of 8.76% and a negative return on equity of 59.49%. The business had revenue of $94.03 million during the quarter, compared to analyst estimates of $94.18 million. During the same quarter in the prior year, the company earned $0.43 EPS. Goosehead Insurance's revenue for the quarter was up 20.4% on a year-over-year basis. As a group, sell-side analysts expect that Goosehead Insurance will post 0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JMP Securities restated a "market outperform" rating and set a $150.00 price objective on shares of Goosehead Insurance in a research report on Thursday, April 24th. BMO Capital Markets dropped 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 reissued a "neutral" rating and set a $109.00 target price (down from $122.00) on shares of Goosehead Insurance in a research note on Thursday, July 24th. Keefe, Bruyette & Woods decreased their target price on shares of Goosehead Insurance from $130.00 to $120.00 and set an "outperform" rating for the company in a research report on Thursday, July 24th. Finally, UBS Group cut their price target on Goosehead Insurance from $140.00 to $136.00 and set a "buy" rating on the stock in a report on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $109.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GSHD. Teacher Retirement System of Texas boosted its holdings in shares of Goosehead Insurance by 120.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,464 shares of the company's stock worth $1,315,000 after buying an additional 6,813 shares during the period. Y Intercept Hong Kong Ltd raised its position in shares of Goosehead Insurance by 54.5% during the second quarter. Y Intercept Hong Kong Ltd now owns 4,571 shares of the company's stock valued at $482,000 after buying an additional 1,612 shares during the last quarter. Keeler Thomas Management LLC bought a new stake in shares of Goosehead Insurance in the second quarter valued at about $1,077,000. AlphaQuest LLC lifted its position in Goosehead Insurance by 43.2% in the second quarter. AlphaQuest LLC now owns 875 shares of the company's stock worth $92,000 after purchasing an additional 264 shares during the period. Finally, Cookson Peirce & Co. Inc. bought a new stake in Goosehead Insurance in the second quarter valued at about $739,000.

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.