Goldman Sachs Group Inc. Increases Stock Position in Goosehead Insurance, Inc (NASDAQ:GSHD)

Goldman Sachs Group Inc. boosted its stake in Goosehead Insurance, Inc (NASDAQ:GSHD) by 14.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 294,977 shares of the company’s stock after purchasing an additional 37,805 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Goosehead Insurance were worth $22,359,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. G2 Investment Partners Management LLC bought a new stake in shares of Goosehead Insurance in the 4th quarter worth about $2,284,000. Ghisallo Capital Management LLC grew its holdings in Goosehead Insurance by 63.7% during the 4th quarter. Ghisallo Capital Management LLC now owns 25,041 shares of the company’s stock valued at $1,898,000 after purchasing an additional 9,741 shares during the last quarter. Capital International Investors grew its holdings in Goosehead Insurance by 19.7% during the 4th quarter. Capital International Investors now owns 263,952 shares of the company’s stock valued at $20,008,000 after purchasing an additional 43,520 shares during the last quarter. Alberta Investment Management Corp bought a new position in Goosehead Insurance during the 4th quarter valued at about $598,000. Finally, Evoke Wealth LLC bought a new position in Goosehead Insurance during the 4th quarter valued at about $1,254,000.

Goosehead Insurance Price Performance

Shares of GSHD opened at $55.34 on Wednesday. Goosehead Insurance, Inc has a fifty-two week low of $50.47 and a fifty-two week high of $92.76. The company has a 50 day moving average price of $60.08 and a 200-day moving average price of $69.29. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market capitalization of $2.10 billion, a PE ratio of 89.26, a PEG ratio of 3.66 and a beta of 1.45.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Wednesday, April 24th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Goosehead Insurance had a net margin of 5.99% and a return on equity of 202.00%. The company had revenue of $64.46 million during the quarter, compared to analysts’ expectations of $66.24 million. Equities analysts predict that Goosehead Insurance, Inc will post 0.7 earnings per share for the current fiscal year.

Insider Activity at Goosehead Insurance

In other news, COO Mark Miller bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was bought at an average price of $58.06 per share, with a total value of $580,600.00. Following the completion of the transaction, the chief operating officer now directly owns 30,000 shares of the company’s stock, valued at approximately $1,741,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 38.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on GSHD. TD Cowen cut their price target on shares of Goosehead Insurance from $105.00 to $98.00 and set a “buy” rating on the stock in a report on Friday, May 24th. JMP Securities reiterated a “market outperform” rating and set a $100.00 price target on shares of Goosehead Insurance in a report on Monday, April 15th. Royal Bank of Canada dropped their target price on shares of Goosehead Insurance from $88.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Keefe, Bruyette & Woods dropped their target price on shares of Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Goosehead Insurance from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $74.00.

About Goosehead Insurance

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.