Goosehead Insurance (NASDAQ:GSHD) Sets New 12-Month High – Still a Buy?

Goosehead Insurance, Inc (NASDAQ:GSHD) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $130.39 and last traded at $129.18, with a volume of 6552 shares trading hands. The stock had previously closed at $129.69.

Analyst Ratings Changes

Several equities research analysts have commented on GSHD shares. Piper Sandler boosted their target price on Goosehead Insurance from $103.00 to $122.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Royal Bank of Canada increased their price target on Goosehead Insurance from $95.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. TD Cowen upped their price objective on Goosehead Insurance from $94.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. increased their target price on Goosehead Insurance from $65.00 to $77.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, UBS Group raised their price objective on Goosehead Insurance from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $97.90.

Goosehead Insurance Price Performance

The firm has a market capitalization of $4.72 billion, a P/E ratio of 179.71, a price-to-earnings-growth ratio of 4.85 and a beta of 1.32. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.55 and a current ratio of 1.55. The business has a 50 day simple moving average of $102.84 and a two-hundred day simple moving average of $82.20.

Goosehead Insurance (NASDAQ:GSHD) last announced its earnings results on Wednesday, October 23rd. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The business had revenue of $78.04 million for the quarter, compared to analyst estimates of $80.54 million. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 EPS. On average, sell-side analysts expect that Goosehead Insurance, Inc will post 0.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Mark Miller sold 58,327 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $110.22, for a total value of $6,428,801.94. Following the completion of the transaction, the chief executive officer now owns 30,000 shares in the company, valued at $3,306,600. This trade represents a 66.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Patrick Ryan Langston sold 3,019 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $90.34, for a total value of $272,736.46. Following the completion of the transaction, the insider now owns 5,000 shares of the company’s stock, valued at approximately $451,700. The trade was a 37.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,255 shares of company stock worth $12,686,800. 48.35% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Goosehead Insurance by 34.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,428,907 shares of the company’s stock worth $196,956,000 after purchasing an additional 879,959 shares in the last quarter. Wasatch Advisors LP lifted its position in Goosehead Insurance by 5.6% during the third quarter. Wasatch Advisors LP now owns 2,618,945 shares of the company’s stock valued at $233,872,000 after purchasing an additional 138,571 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Goosehead Insurance by 2.0% in the first quarter. Vanguard Group Inc. now owns 2,416,115 shares of the company’s stock valued at $160,962,000 after acquiring an additional 46,861 shares in the last quarter. State Street Corp lifted its position in shares of Goosehead Insurance by 21.2% in the third quarter. State Street Corp now owns 1,059,298 shares of the company’s stock valued at $94,595,000 after acquiring an additional 185,037 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Goosehead Insurance by 0.9% in the third quarter. Geode Capital Management LLC now owns 643,514 shares of the company’s stock worth $57,476,000 after buying an additional 5,969 shares in the last quarter.

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.