Key Points
- Durable Capital Partners bought 150,000 Goosehead Insurance shares at an average $47.32 each, investing approximately $7.1 million and increasing its ownership by 5.84% to 2.72 million shares.
- Goosehead Insurance shares opened at $43.65, with a $1.55 billion market capitalization and a 52-week range of $33.68 to $79.85. The stock is down notably from its 50-day moving average of $62.44.
- The company beat quarterly EPS expectations, reporting $0.64 versus the $0.47 consensus, while revenue rose 20.6% year over year to $95.63 million. Analysts maintain a consensus “Hold” rating with an average price target of $68.45.
Goosehead Insurance (NASDAQ:GSHD - Get Free Report) major shareholder Durable Capital Partners Lp acquired 150,000 shares of the company's stock in a transaction that occurred on Tuesday, September 22nd. The stock was purchased at an average cost of $47.32 per share, with a total value of $7,098,000.00. Following the completion of the purchase, the insider directly owned 2,720,260 shares in the company, valued at $128,722,703.20. This represents a 5.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 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 bought 36,256 shares of Goosehead Insurance stock. The shares were purchased at an average price of $61.92 per share, for a total transaction of $2,244,971.52.
- On Monday, July 27th, Durable Capital Partners Lp bought 40,077 shares of Goosehead Insurance stock. The stock was purchased at an average cost of $61.72 per share, for a total transaction of $2,473,552.44.
- On Friday, July 24th, Durable Capital Partners Lp purchased 113,646 shares of Goosehead Insurance stock. The shares were purchased at an average cost of $58.34 per share, with a total value of $6,630,107.64.
Goosehead Insurance Stock Up 0.3%
Goosehead Insurance stock opened at $43.65 on Friday. The firm has a market capitalization of $1.55 billion, a PE ratio of 31.86, a P/E/G ratio of 1.63 and a beta of 1.36. Goosehead Insurance has a 52 week low of $33.68 and a 52 week high of $79.85. The firm's 50-day simple moving average is $62.44 and its 200 day simple moving average is $49.96.
Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.17. The firm had revenue of $95.63 million during the quarter, compared to the consensus estimate of $103.30 million. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The firm's revenue for the quarter was up 20.6% on a year-over-year basis. During the same period last year, the firm posted $0.49 EPS. On average, research analysts expect that Goosehead Insurance will post 1.46 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
GSHD has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reduced their target price on Goosehead Insurance from $80.00 to $72.00 and set an "outperform" rating on the stock in a research note on Thursday, July 23rd. Piper Sandler boosted their price target on Goosehead Insurance from $52.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Weiss Ratings downgraded Goosehead Insurance from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, September 18th. UBS Group increased their price objective on Goosehead Insurance from $70.00 to $72.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Finally, Royal Bank Of Canada lifted their price objective on Goosehead Insurance from $55.00 to $58.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 23rd. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $68.45.
Get Our Latest Analysis on GSHD
Institutional Investors Weigh In On Goosehead Insurance
Several hedge funds have recently modified their holdings of GSHD. MassMutual Private Wealth & Trust FSB increased its position in Goosehead Insurance by 484.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company's stock worth $25,000 after purchasing an additional 426 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Goosehead Insurance by 471.9% in the 2nd quarter. Versant Capital Management Inc now owns 772 shares of the company's stock valued at $37,000 after purchasing an additional 637 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Goosehead Insurance during the 2nd quarter valued at $48,000. Nykredit A S purchased a new stake in shares of Goosehead Insurance during the 2nd quarter valued at $50,000. Finally, Leonteq Securities AG acquired a new stake in shares of Goosehead Insurance during the 4th quarter worth $83,000.
About Goosehead Insurance
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
