Goosehead Insurance (NASDAQ:GSHD) Trading 5.7% Higher – Here’s Why

Goosehead Insurance, Inc (NASDAQ:GSHD) shares traded up 5.7% during trading on Monday . The company traded as high as $105.35 and last traded at $106.60. 61,865 shares changed hands during trading, a decline of 74% from the average session volume of 238,384 shares. The stock had previously closed at $100.87.

Analyst Upgrades and Downgrades

GSHD has been the subject of several analyst reports. JMP Securities upped their target price on Goosehead Insurance from $100.00 to $115.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on Goosehead Insurance from $77.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Piper Sandler lifted their price objective on shares of Goosehead Insurance from $103.00 to $122.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. TD Cowen upped their target price on shares of Goosehead Insurance from $94.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, November 20th. Finally, BMO Capital Markets raised their price target on shares of Goosehead Insurance from $90.00 to $120.00 and gave the company a “market perform” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $99.20.

Goosehead Insurance Stock Down 1.4 %

The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 37.70. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 147.60, a P/E/G ratio of 4.23 and a beta of 1.41. The stock has a 50 day moving average of $112.29 and a 200 day moving average of $98.36.

Goosehead Insurance Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 21st will be given a $5.91 dividend. This is a positive change from Goosehead Insurance’s previous dividend of $1.63. The ex-dividend date of this dividend is Tuesday, January 21st.

Insider Activity at Goosehead Insurance

In related news, CEO Mark Miller sold 58,327 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $110.22, for a total transaction of $6,428,801.94. Following the sale, the chief executive officer now owns 30,000 shares in the company, valued at $3,306,600. This represents a 66.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 48.35% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of GSHD. Geode Capital Management LLC lifted its holdings in shares of Goosehead Insurance by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 643,514 shares of the company’s stock worth $57,476,000 after purchasing an additional 5,969 shares during the last quarter. Quarry LP increased its position in Goosehead Insurance by 2,810.7% in the second quarter. Quarry LP now owns 815 shares of the company’s stock worth $47,000 after buying an additional 787 shares during the period. BNP Paribas Financial Markets lifted its stake in Goosehead Insurance by 135.1% in the third quarter. BNP Paribas Financial Markets now owns 22,200 shares of the company’s stock valued at $1,982,000 after buying an additional 12,759 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Goosehead Insurance during the second quarter valued at $436,000. Finally, Verition Fund Management LLC bought a new position in shares of Goosehead Insurance during the third quarter worth about $616,000.

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.