Geode Capital Management LLC Has $74.42 Million Position in Goosehead Insurance $GSHD

Geode Capital Management LLC raised its stake in shares of Goosehead Insurance (NASDAQ:GSHD) by 25.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 705,284 shares of the company’s stock after acquiring an additional 143,038 shares during the quarter. Geode Capital Management LLC owned approximately 1.88% of Goosehead Insurance worth $74,422,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. King Luther Capital Management Corp lifted its holdings in Goosehead Insurance by 4.9% during the 2nd quarter. King Luther Capital Management Corp now owns 124,544 shares of the company’s stock valued at $13,141,000 after purchasing an additional 5,868 shares during the last quarter. Future Fund LLC acquired a new stake in shares of Goosehead Insurance during the second quarter worth approximately $928,000. Bryce Point Capital LLC raised its stake in shares of Goosehead Insurance by 2.2% in the second quarter. Bryce Point Capital LLC now owns 6,954 shares of the company’s stock valued at $734,000 after acquiring an additional 148 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Goosehead Insurance by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 146,330 shares of the company’s stock valued at $15,439,000 after acquiring an additional 5,363 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Goosehead Insurance by 2.2% in the 2nd quarter. Bank of Montreal Can now owns 5,299 shares of the company’s stock worth $559,000 after acquiring an additional 116 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have issued reports on GSHD shares. Citigroup reiterated an “outperform” rating on shares of Goosehead Insurance in a research report on Tuesday, October 14th. Piper Sandler lowered their target price on Goosehead Insurance from $79.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Truist Financial cut their price target on Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, October 23rd. Zacks Research raised shares of Goosehead Insurance from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Goosehead Insurance in a research report on Friday, October 31st. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $95.56.

Insiders Place Their Bets

In other Goosehead Insurance news, CFO Mark E. Jr. Jones acquired 873 shares of Goosehead Insurance stock in a transaction on Monday, October 27th. The shares were purchased at an average cost of $74.44 per share, with a total value of $64,986.12. Following the completion of the purchase, the chief financial officer owned 4,364 shares in the company, valued at $324,856.16. The trade was a 25.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 48.35% of the stock is owned by corporate insiders.

Goosehead Insurance Stock Up 3.6%

Goosehead Insurance stock opened at $71.36 on Friday. The business’s 50-day simple moving average is $71.18 and its 200 day simple moving average is $88.06. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 63.15, a P/E/G ratio of 11.65 and a beta of 1.42. Goosehead Insurance has a 12-month low of $64.40 and a 12-month high of $130.39.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.08). The firm had revenue of $90.27 million for the quarter, compared to the consensus estimate of $94.25 million. Goosehead Insurance had a negative return on equity of 34.60% and a net margin of 8.55%.The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. As a group, sell-side analysts expect that Goosehead Insurance will post 0.83 EPS for the current year.

Goosehead Insurance 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.