Wesbanco Bank Inc. Increases Stake in Goosehead Insurance $GSHD

Wesbanco Bank Inc. grew its stake in shares of Goosehead Insurance (NASDAQ:GSHD) by 226.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 32,000 shares of the company’s stock after purchasing an additional 22,200 shares during the quarter. Wesbanco Bank Inc.’s holdings in Goosehead Insurance were worth $1,365,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Meixler Investment Management Ltd. boosted its position in shares of Goosehead Insurance by 5.3% during the fourth quarter. Meixler Investment Management Ltd. now owns 4,355 shares of the company’s stock worth $321,000 after acquiring an additional 220 shares during the last quarter. Gibbs Wealth Management increased its holdings in Goosehead Insurance by 3.8% in the 4th quarter. Gibbs Wealth Management now owns 6,133 shares of the company’s stock valued at $459,000 after acquiring an additional 227 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Goosehead Insurance by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,022 shares of the company’s stock worth $1,268,000 after purchasing an additional 259 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Goosehead Insurance by 480.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock worth $34,000 after purchasing an additional 269 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of Goosehead Insurance by 5.0% during the 4th quarter. Blair William & Co. IL now owns 6,831 shares of the company’s stock valued at $503,000 after purchasing an additional 323 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GSHD shares. Citizens Jmp cut their price objective on Goosehead Insurance from $125.00 to $100.00 and set a “market outperform” rating for the company in a research report on Monday, April 13th. Weiss Ratings downgraded Goosehead Insurance from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday. UBS Group dropped their price target on Goosehead Insurance from $85.00 to $67.00 and set a “buy” rating for the company in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods raised their price target on Goosehead Insurance from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, Piper Sandler cut their price target on Goosehead Insurance from $60.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $65.09.

Goosehead Insurance Stock Up 6.6%

Goosehead Insurance stock opened at $46.87 on Friday. Goosehead Insurance has a 52-week low of $33.68 and a 52-week high of $106.84. The firm’s fifty day moving average is $40.54 and its 200 day moving average is $52.06. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 1.62 and a beta of 1.52.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.17. The business had revenue of $79.48 million during the quarter, compared to analysts’ expectations of $105.16 million. Goosehead Insurance had a net margin of 7.94% and a negative return on equity of 20.96%. The business’s revenue was up 23.1% on a year-over-year basis. During the same period last year, the company posted $0.26 EPS. On average, equities research analysts anticipate that Goosehead Insurance will post 1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Goosehead Insurance

In related news, General Counsel Martin Ellis Thornthwaite purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average price of $41.50 per share, for a total transaction of $207,500.00. Following the completion of the transaction, the general counsel owned 5,000 shares in the company, valued at approximately $207,500. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 82,689 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $41.77, for a total value of $3,453,919.53. Following the sale, the insider directly owned 7,050,356 shares in the company, valued at $294,493,370.12. The trade was a 1.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders bought 12,800 shares of company stock worth $480,718 and sold 219,192 shares worth $9,092,267. Insiders own 38.07% of the company’s stock.

Goosehead Insurance Profile

Goosehead Insurance (NASDAQ: GSHD) is a technology-driven insurance agency that connects consumers with a broad range of personal and commercial insurance products through an extensive network of independent insurance advisors. The company specializes in homeowners, auto, flood, dwelling fire, umbrella, life, and commercial lines coverage, working with multiple national and regional carriers to offer tailored policies. By combining advanced quoting tools with local market expertise, Goosehead streamlines the insurance shopping process and helps clients find competitive coverage options.

Founded in 2003 and headquartered in Westlake, Texas, Goosehead has grown its footprint across more than 40 states in the U.S.