Goosehead Insurance (NASDAQ:GSHD) Stock: Insider Durable Capital Partners Lp Purchases 150,000 Shares

Key Points

• Durable Capital Partners purchased 150,000 Goosehead Insurance shares at an average price of $47.32, investing approximately $7.1 million and increasing its stake by 5.84% to 2.72 million shares.
• Goosehead shares traded at $43.65, with a market capitalization of about $1.55 billion. The stock remains well below its 52-week high of $79.85, despite rising revenue 20.6% year over year in the latest quarter and beating EPS estimates.
• Analysts maintain a broadly positive-to-neutral view, with seven Buy, six Hold, and one Sell rating; the consensus price target is $68.45.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) major shareholder Durable Capital Partners Lp bought 150,000 shares of Goosehead Insurance stock in a transaction that occurred on Tuesday, September 22nd. The shares were acquired at an average cost of $47.32 per share, for a total transaction of $7,098,000.00. Following the acquisition, the insider owned 2,720,260 shares in the company, valued at $128,722,703.20. The trade was a 5.84% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Durable Capital Partners Lp also recently made the following trade(s):

• On Friday, July 31st, Durable Capital Partners Lp purchased 36,256 shares of Goosehead Insurance stock. The stock was acquired at an average cost of $61.92 per share, with a total value of $2,244,971.52.
• On Monday, July 27th, Durable Capital Partners Lp purchased 40,077 shares of Goosehead Insurance stock. The shares were acquired at an average price of $61.72 per share, with a total value of $2,473,552.44.
• On Friday, July 24th, Durable Capital Partners Lp acquired 113,646 shares of Goosehead Insurance stock. The shares were bought at an average cost of $58.34 per share, for a total transaction of $6,630,107.64.

Goosehead Insurance Stock Up 0.3%

Shares of GSHD traded up $0.13 during trading hours on Thursday, hitting $43.65. The company had a trading volume of 734,015 shares, compared to its average volume of 492,463. The firm has a market cap of $1.55 billion, a P/E ratio of 31.86, a P/E/G ratio of 1.63 and a beta of 1.36. The stock's 50 day moving average price is $62.67 and its 200 day moving average price is $50.01. Goosehead Insurance has a 52-week low of $33.68 and a 52-week high of $79.85.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.17. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%.The company had revenue of $95.63 million during the quarter, compared to analyst estimates of $103.30 million. During the same quarter in the previous year, the company posted $0.49 EPS. Goosehead Insurance's revenue for the quarter was up 20.6% on a year-over-year basis. On average, research analysts expect that Goosehead Insurance will post 1.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Goosehead Insurance

Several hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP raised its holdings in shares of Goosehead Insurance by 32.3% during the first quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company's stock valued at $97,786,000 after acquiring an additional 559,087 shares in the last quarter. Langdon Equity Partners bought a new stake in Goosehead Insurance in the fourth quarter valued at $41,892,000. Janus Henderson Group PLC boosted its holdings in Goosehead Insurance by 3,485.1% in the first quarter. Janus Henderson Group PLC now owns 386,906 shares of the company's stock valued at $16,506,000 after acquiring an additional 376,114 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Goosehead Insurance during the 2nd quarter valued at $6,545,000. Finally, 3G Capital Partners LP increased its position in Goosehead Insurance by 80.0% during the 4th quarter. 3G Capital Partners LP now owns 225,000 shares of the company's stock valued at $16,571,000 after purchasing an additional 100,000 shares during the period.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GSHD shares. Cantor Fitzgerald restated an "overweight" rating and issued a $76.00 target price on shares of Goosehead Insurance in a report on Thursday, July 23rd. Piper Sandler upped their price target on shares of Goosehead Insurance from $52.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Royal Bank Of Canada increased their price target on shares of Goosehead Insurance from $55.00 to $58.00 and gave the company a "sector perform" rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price target on shares of Goosehead Insurance from $55.00 to $60.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Goosehead Insurance from $80.00 to $72.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $68.45.

About Goosehead Insurance

Goosehead Insurance, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchised locations. The company represents multiple insurance carriers, allowing its agents to compare coverage options and help customers select policies based on their individual needs.

Its product offerings include homeowners, auto, renters, flood, personal umbrella and other personal-lines insurance, along with selected commercial insurance products.

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