Norden Group LLC Increases Stake in Goosehead Insurance, Inc (NASDAQ:GSHD)

Norden Group LLC lifted its stake in Goosehead Insurance, Inc (NASDAQ:GSHD) by 1,839.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 109,942 shares of the company’s stock after purchasing an additional 104,273 shares during the quarter. Norden Group LLC owned about 0.29% of Goosehead Insurance worth $7,324,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Evoke Wealth LLC purchased a new position in shares of Goosehead Insurance in the 4th quarter valued at approximately $1,254,000. Capital International Investors raised its position in shares of Goosehead Insurance by 19.7% in 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. Vanguard Group Inc. increased its holdings in Goosehead Insurance by 17.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,332,578 shares of the company’s stock worth $173,847,000 after buying an additional 351,630 shares during the period. FMR LLC increased its holdings in Goosehead Insurance by 383.3% in the 3rd quarter. FMR LLC now owns 70,292 shares of the company’s stock worth $5,239,000 after buying an additional 55,747 shares during the period. Finally, Cornercap Investment Counsel Inc. acquired a new position in Goosehead Insurance in the 4th quarter worth approximately $485,000.

Goosehead Insurance Price Performance

Goosehead Insurance stock opened at $56.83 on Friday. The company’s fifty day moving average price is $59.97 and its 200 day moving average price is $68.54. Goosehead Insurance, Inc has a 1 year low of $50.47 and a 1 year high of $92.76. The stock has a market capitalization of $2.16 billion, a P/E ratio of 91.66, a P/E/G ratio of 3.70 and a beta of 1.36. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.73 and a current ratio of 1.73.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.06 earnings per share (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 firm had revenue of $64.46 million for the quarter, compared to analysts’ expectations of $66.24 million. As a group, equities research analysts anticipate that Goosehead Insurance, Inc will post 0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. BMO Capital Markets cut their price target on shares of Goosehead Insurance from $90.00 to $72.00 and set an “outperform” rating on the stock in a report on Tuesday, April 30th. 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 price target on shares of Goosehead Insurance in a report on Friday, June 28th. Keefe, Bruyette & Woods cut their price target on shares of Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, Bank of America increased their price target on shares of Goosehead Insurance from $35.00 to $37.00 and gave the stock an “underperform” rating in a report on Tuesday, June 11th. One 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.00.

Insider Activity at Goosehead Insurance

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

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.