Rhumbline Advisers Grows Stock Position in Goosehead Insurance, Inc (NASDAQ:GSHD)

Rhumbline Advisers raised its holdings in Goosehead Insurance, Inc (NASDAQ:GSHD) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,064 shares of the company’s stock after buying an additional 2,965 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Goosehead Insurance worth $3,910,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in Goosehead Insurance by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 190,550 shares of the company’s stock worth $14,444,000 after purchasing an additional 7,502 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Goosehead Insurance in the fourth quarter worth about $419,000. Jump Financial LLC purchased a new stake in shares of Goosehead Insurance in the fourth quarter worth about $459,000. Dimensional Fund Advisors LP grew its stake in shares of Goosehead Insurance by 11.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 308,090 shares of the company’s stock valued at $23,354,000 after buying an additional 30,626 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Goosehead Insurance by 2.8% during the 4th quarter. Wells Fargo & Company MN now owns 144,353 shares of the company’s stock worth $10,942,000 after acquiring an additional 3,864 shares in the last quarter.

Insider Buying and Selling

In other Goosehead Insurance news, Chairman Mark Evan Jones sold 10,418 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $85.88, for a total transaction of $894,697.84. Following the completion of the transaction, the chairman now owns 39,451 shares in the company, valued at approximately $3,388,051.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Mark Evan Jones sold 10,418 shares of Goosehead Insurance stock in a transaction on Friday, August 16th. The stock was sold at an average price of $85.88, for a total transaction of $894,697.84. Following the transaction, the chairman now directly owns 39,451 shares in the company, valued at approximately $3,388,051.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Patrick Ryan Langston sold 7,674 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $85.19, for a total value of $653,748.06. Following the completion of the sale, the insider now directly owns 5,000 shares in the company, valued at approximately $425,950. The disclosure for this sale can be found here. Insiders sold 52,798 shares of company stock valued at $4,454,640 in the last three months. 48.35% of the stock is currently owned by corporate insiders.

Goosehead Insurance Trading Down 2.2 %

Shares of NASDAQ GSHD opened at $87.22 on Tuesday. Goosehead Insurance, Inc has a 12-month low of $50.47 and a 12-month high of $92.76. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 140.68, a price-to-earnings-growth ratio of 4.28 and a beta of 1.35. The company has a current ratio of 1.13, a quick ratio of 1.14 and a debt-to-equity ratio of 2.31. The stock’s 50 day simple moving average is $79.00 and its 200 day simple moving average is $68.70.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Wednesday, July 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. Goosehead Insurance had a net margin of 6.71% and a return on equity of 244.15%. The firm had revenue of $78.10 million during the quarter, compared to analyst estimates of $74.31 million. During the same period in the previous year, the business posted $0.25 EPS. Goosehead Insurance’s revenue was up 12.7% on a year-over-year basis. Equities research analysts expect that Goosehead Insurance, Inc will post 0.75 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GSHD. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Goosehead Insurance in a research report on Thursday, July 25th. UBS Group lifted their price target on shares of Goosehead Insurance from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on Goosehead Insurance from $65.00 to $77.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. TD Cowen downgraded Goosehead Insurance from a “buy” rating to a “hold” rating and reduced their price target for the company from $98.00 to $94.00 in a report on Thursday, August 15th. Finally, Truist Financial raised their price target on shares of Goosehead Insurance from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $80.40.

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.