Mechanics Bank Trust Department Takes Position in Goosehead Insurance, Inc (NASDAQ:GSHD)

Mechanics Bank Trust Department acquired a new position in shares of Goosehead Insurance, Inc (NASDAQ:GSHD) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,443 shares of the company’s stock, valued at approximately $218,000.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Goosehead Insurance by 195.8% during the third quarter. GAMMA Investing LLC now owns 349 shares of the company’s stock worth $31,000 after purchasing an additional 231 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Goosehead Insurance during the first quarter worth about $35,000. Cullen Frost Bankers Inc. increased its position in shares of Goosehead Insurance by 49.4% during the second quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company’s stock worth $36,000 after purchasing an additional 210 shares in the last quarter. Quarry LP lifted its holdings in shares of Goosehead Insurance by 2,810.7% in the 2nd quarter. Quarry LP now owns 815 shares of the company’s stock valued at $47,000 after purchasing an additional 787 shares during the last quarter. Finally, RiverPark Advisors LLC acquired a new stake in shares of Goosehead Insurance in the 1st quarter valued at about $104,000.

Analysts Set New Price Targets

Several brokerages have issued reports on GSHD. JPMorgan Chase & Co. raised their price objective on shares of Goosehead Insurance from $65.00 to $77.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $84.00 price target (down from $85.00) on shares of Goosehead Insurance in a research report on Friday, July 26th. TD Cowen cut Goosehead Insurance from a “buy” rating to a “hold” rating and lowered their price target for the stock from $98.00 to $94.00 in a report on Thursday, August 15th. Piper Sandler lifted their price objective on Goosehead Insurance from $65.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $80.00 target price on shares of Goosehead Insurance in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $81.90.

Insider Activity at Goosehead Insurance

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston sold 7,674 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $85.19, for a total value of $653,748.06. Following the completion of the transaction, the insider now directly owns 5,000 shares of the company’s stock, valued at $425,950. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Chairman Mark Evan Jones sold 11,699 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $85.75, for a total transaction of $1,003,189.25. Following the completion of the sale, the chairman now owns 39,451 shares of the company’s stock, valued at approximately $3,382,923.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Patrick Ryan Langston sold 7,674 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $85.19, for a total transaction of $653,748.06. Following the completion of the sale, the insider now directly owns 5,000 shares in the company, valued at $425,950. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 62,798 shares of company stock valued at $5,357,113. Corporate insiders own 48.35% of the company’s stock.

Goosehead Insurance Price Performance

Shares of NASDAQ GSHD opened at $90.48 on Monday. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 145.94, a PEG ratio of 4.72 and a beta of 1.35. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.13 and a quick ratio of 1.14. Goosehead Insurance, Inc has a 1-year low of $50.47 and a 1-year high of $94.90. The business has a 50-day moving average of $86.14 and a 200-day moving average of $70.77.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $78.10 million during the quarter, compared to analysts’ expectations of $74.31 million. Goosehead Insurance had a return on equity of 244.15% and a net margin of 6.71%. Goosehead Insurance’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 EPS. On average, equities analysts anticipate that Goosehead Insurance, Inc will post 0.76 EPS for the current fiscal 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.