Phocas Financial Corp. Acquires New Stake in Goosehead Insurance $GSHD

Phocas Financial Corp. bought a new position in shares of Goosehead Insurance (NASDAQ:GSHD) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 49,812 shares of the company’s stock, valued at approximately $3,669,000.

Other institutional investors have also added to or reduced their stakes in the company. Wasatch Advisors LP raised its holdings in shares of Goosehead Insurance by 12.6% in the 2nd quarter. Wasatch Advisors LP now owns 2,275,369 shares of the company’s stock valued at $240,074,000 after acquiring an additional 253,777 shares in the last quarter. Durable Capital Partners LP increased its position in shares of Goosehead Insurance by 126.5% in the third quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company’s stock worth $114,769,000 after purchasing an additional 861,374 shares during the last quarter. State Street Corp increased its position in shares of Goosehead Insurance by 1.4% in the second quarter. State Street Corp now owns 1,027,500 shares of the company’s stock worth $108,412,000 after purchasing an additional 14,311 shares during the last quarter. DF Dent & Co. Inc. raised its stake in Goosehead Insurance by 2.0% in the third quarter. DF Dent & Co. Inc. now owns 1,012,414 shares of the company’s stock valued at $75,344,000 after purchasing an additional 20,085 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in Goosehead Insurance by 118.7% in the second quarter. Balyasny Asset Management L.P. now owns 556,760 shares of the company’s stock valued at $58,744,000 after purchasing an additional 302,130 shares in the last quarter.

Insider Buying and Selling

In other Goosehead Insurance news, Director Louis Goldberg bought 5,575 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average price of $44.85 per share, for a total transaction of $250,038.75. Following the transaction, the director directly owned 5,575 shares in the company, valued at $250,038.75. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 48.35% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GSHD shares. Wall Street Zen upgraded shares of Goosehead Insurance from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Citizens Jmp lowered their price objective on shares of Goosehead Insurance from $140.00 to $125.00 and set a “market outperform” rating on the stock in a research report on Wednesday, February 18th. Piper Sandler raised shares of Goosehead Insurance from a “neutral” rating to an “overweight” rating and set a $69.00 price objective for the company in a report on Wednesday, February 18th. Royal Bank Of Canada assumed coverage on shares of Goosehead Insurance in a research report on Tuesday, March 17th. They issued a “hold” rating and a $49.00 target price for the company. Finally, Truist Financial reduced their target price on Goosehead Insurance from $72.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, February 18th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.60.

Goosehead Insurance Price Performance

Shares of GSHD opened at $42.44 on Monday. The firm has a market cap of $1.55 billion, a P/E ratio of 40.81, a P/E/G ratio of 3.03 and a beta of 1.69. The stock has a 50 day simple moving average of $50.21 and a two-hundred day simple moving average of $64.29. Goosehead Insurance has a 1 year low of $40.00 and a 1 year high of $124.40.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.54 by $0.10. Goosehead Insurance had a net margin of 7.62% and a negative return on equity of 21.31%. The firm had revenue of $78.20 million for the quarter, compared to the consensus estimate of $99.67 million. During the same period last year, the firm posted $0.79 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. On average, equities analysts anticipate that Goosehead Insurance will post 0.83 earnings per share for the current year.

About Goosehead Insurance

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.