Verition Fund Management LLC Makes New Investment in Goosehead Insurance, Inc (NASDAQ:GSHD)

Verition Fund Management LLC acquired a new stake in shares of Goosehead Insurance, Inc (NASDAQ:GSHD - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,893 shares of the company's stock, valued at approximately $616,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Goosehead Insurance by 34.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,428,907 shares of the company's stock valued at $196,956,000 after purchasing an additional 879,959 shares during the last quarter. American Century Companies Inc. grew its position in Goosehead Insurance by 35.7% during the second quarter. American Century Companies Inc. now owns 420,934 shares of the company's stock valued at $24,179,000 after buying an additional 110,832 shares during the period. Dimensional Fund Advisors LP increased its holdings in Goosehead Insurance by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 393,093 shares of the company's stock valued at $22,580,000 after buying an additional 51,023 shares during the last quarter. Sei Investments Co. raised its position in Goosehead Insurance by 32.4% in the second quarter. Sei Investments Co. now owns 164,074 shares of the company's stock worth $9,424,000 after acquiring an additional 40,107 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Goosehead Insurance during the 3rd quarter worth $2,134,000.

Insider Activity

In other Goosehead Insurance news, major shareholder Adrienne Kebodeaux sold 43,928 shares of the firm's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $100.21, for a total value of $4,402,024.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Patrick Ryan Langston sold 4,814 shares of the company's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $90.26, for a total value of $434,511.64. Following the transaction, the insider now directly owns 5,000 shares in the company, valued at approximately $451,300. This represents a 49.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 122,255 shares of company stock worth $12,686,800. 48.35% of the stock is currently owned by corporate insiders.

Goosehead Insurance Price Performance

GSHD traded down $0.22 during trading on Wednesday, hitting $117.11. 215,377 shares of the company traded hands, compared to its average volume of 284,523. The company has a market cap of $4.35 billion, a PE ratio of 162.65, a P/E/G ratio of 4.78 and a beta of 1.38. The stock's 50-day simple moving average is $110.43 and its two-hundred day simple moving average is $86.74. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 37.70. Goosehead Insurance, Inc has a 1 year low of $50.47 and a 1 year high of $130.39.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.05. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%. The company had revenue of $78.04 million during the quarter, compared to analyst estimates of $80.54 million. During the same period in the prior year, the company earned $0.28 earnings per share. The firm's revenue was up 9.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Goosehead Insurance, Inc will post 0.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on GSHD. BMO Capital Markets lifted their target price on Goosehead Insurance from $90.00 to $120.00 and gave the company a "market perform" rating in a research report on Tuesday, November 19th. Royal Bank of Canada lifted their price objective on Goosehead Insurance from $95.00 to $109.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Piper Sandler increased their target price on shares of Goosehead Insurance from $103.00 to $122.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. JMP Securities lifted their price target on shares of Goosehead Insurance from $100.00 to $115.00 and gave the company a "market outperform" rating in a report on Thursday, October 24th. Finally, Truist Financial increased their price objective on shares of Goosehead Insurance from $65.00 to $80.00 and gave the stock a "hold" rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $97.90.

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.