Cresset Asset Management LLC Acquires New Stake in Goosehead Insurance $GSHD

Cresset Asset Management LLC acquired a new stake in shares of Goosehead Insurance (NASDAQ:GSHD) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,400 shares of the company’s stock, valued at approximately $401,000.

Several other large investors also recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its stake in Goosehead Insurance by 3.9% during the first quarter. HighTower Advisors LLC now owns 5,504 shares of the company’s stock valued at $650,000 after buying an additional 205 shares during the period. Public Sector Pension Investment Board boosted its stake in Goosehead Insurance by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 77,334 shares of the company’s stock valued at $9,130,000 after buying an additional 16,570 shares during the period. Nuveen LLC purchased a new stake in Goosehead Insurance during the first quarter valued at about $8,025,000. Entropy Technologies LP raised its position in Goosehead Insurance by 13.0% during the first quarter. Entropy Technologies LP now owns 2,606 shares of the company’s stock valued at $308,000 after purchasing an additional 300 shares in the last quarter. Finally, Invesco Ltd. raised its position in Goosehead Insurance by 56.8% during the first quarter. Invesco Ltd. now owns 102,402 shares of the company’s stock valued at $12,090,000 after purchasing an additional 37,098 shares in the last quarter.

Insider Activity at Goosehead Insurance

In related news, major shareholder Lindy Langston sold 11,042 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $110.20, for a total transaction of $1,216,828.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder & Robyn Jones Descendants Mark sold 60,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $88.23, for a total value of $5,293,800.00. Following the transaction, the insider owned 132,349 shares in the company, valued at approximately $11,677,152.27. This represents a 31.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,665 shares of company stock worth $23,099,836 in the last 90 days. Company insiders own 37.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GSHD shares. BMO Capital Markets lowered their price target on Goosehead Insurance from $142.00 to $110.00 and set a “market perform” rating on the stock in a research report on Friday, July 25th. Cantor Fitzgerald upgraded Goosehead Insurance to a “strong-buy” rating in a research report on Wednesday, August 13th. UBS Group lowered their price target on Goosehead Insurance from $140.00 to $136.00 and set a “buy” rating on the stock in a research report on Monday, July 28th. Keefe, Bruyette & Woods lowered their price target on Goosehead Insurance from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, July 24th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $109.00 price objective (down previously from $122.00) on shares of Goosehead Insurance in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Goosehead Insurance has an average rating of “Hold” and a consensus price target of $110.91.

Goosehead Insurance Stock Up 3.4%

Shares of NASDAQ:GSHD opened at $89.49 on Monday. Goosehead Insurance has a 1 year low of $79.58 and a 1 year high of $130.39. The company has a market cap of $3.36 billion, a PE ratio of 79.20, a P/E/G ratio of 7.66 and a beta of 1.31. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.92 and a quick ratio of 2.92. The stock’s 50-day moving average is $94.99 and its 200 day moving average is $105.22.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Goosehead Insurance had a net margin of 8.76% and a negative return on equity of 59.49%. The business had revenue of $94.03 million for the quarter, compared to analysts’ expectations of $94.18 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. Goosehead Insurance has set its FY 2025 guidance at EPS. Sell-side analysts anticipate 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.