Phocas Financial Corp. Acquires Shares of 49,812 Goosehead Insurance $GSHD

Phocas Financial Corp. bought a new position in Goosehead Insurance (NASDAQ:GSHD) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 49,812 shares of the company’s stock, valued at approximately $3,669,000. Phocas Financial Corp. owned about 0.14% of Goosehead Insurance at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of Goosehead Insurance by 480.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock worth $34,000 after acquiring an additional 269 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Goosehead Insurance by 802.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock valued at $47,000 after acquiring an additional 393 shares during the period. Fifth Third Bancorp raised its stake in Goosehead Insurance by 71.4% in the 3rd quarter. Fifth Third Bancorp now owns 682 shares of the company’s stock valued at $51,000 after acquiring an additional 284 shares during the period. Covestor Ltd lifted its holdings in Goosehead Insurance by 52.3% during the third quarter. Covestor Ltd now owns 1,177 shares of the company’s stock valued at $88,000 after purchasing an additional 404 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in Goosehead Insurance during the fourth quarter worth about $88,000.

Wall Street Analyst Weigh In

GSHD has been the subject of several recent research reports. Cantor Fitzgerald set a $84.00 target price on shares of Goosehead Insurance in a research note on Monday, February 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Goosehead Insurance in a research note on Wednesday, January 28th. Wall Street Zen raised shares of Goosehead Insurance from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. BMO Capital Markets reduced their price objective on shares of Goosehead Insurance from $79.00 to $55.00 and set a “market perform” rating for the company in a research note on Wednesday, February 18th. Finally, Piper Sandler raised shares of Goosehead Insurance from a “neutral” rating to an “overweight” rating and set a $69.00 target price on the stock in a report on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $77.60.

Insiders Place Their Bets

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

Goosehead Insurance Price Performance

GSHD stock opened at $42.44 on Monday. The firm has a market capitalization of $1.55 billion, a PE ratio of 40.81, a PEG ratio of 3.03 and a beta of 1.69. Goosehead Insurance has a twelve month low of $40.00 and a twelve month high of $124.40. 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 (NASDAQ:GSHD) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the prior year, the firm posted $0.79 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities research analysts anticipate that Goosehead Insurance will post 0.83 EPS for the current fiscal 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.