Weiss Asset Management LP has acquired a new stake in Goosehead Insurance, according to the company’s disclosure to the SEC. The institutional investor purchased 17,272 shares valued at around $616,000. Funds including Kayne Anderson Rudnick Investment Management LLC and Vanguard Group Inc., have recently increased their stake in the company. Goosehead Insurance’s price performance has fluctuated, with a one-year low of $29.23 and a one-year high of $87.29. The company reported $0.02 earnings per share for Q4 2022, beating analyst estimates of ($0.01) by $0.03. Wall Street analysts anticipate a modest EPS of 0.38 for the current year.
Several research firms have rated the stock with a “hold” rating and an average target price of $58.00. Despite the mixed outlook, Goosehead Insurance (NSD:GSHD) has been performing well in the insurance industry, with the firm reporting $57.40 million in revenue for Q4 2022, surpassing analysts’ expectations of $51.83 million. The company’s 50-day simple moving average is $42.70, while its 200-day simple moving average is $39.95. With the recent stake acquisition by Weiss Asset Management LP and other hedge funds increasing their stake, it will be interesting to see how the stock performs in the coming months.
Goosehead Insurance Stock Analysis
Goosehead has an average analyst target price of $61.00 over the next 12 months based on stock forecasts from 10 analysts. The company’s current average analyst rating is Buy, with five positive and seven negative signals, according to Stock Target Advisor’s analysis. As of the last closing, the stock price was $47.91, which represents a -3.58% change over the past week, a +17.83% increase over the past month, and a -40.34% decrease over the last year.
Company Overview
Goosehead Insurance, Inc. is a US-based holding company that owns Goosehead Financial, LLC. A provider of personal lines insurance agency services. The company offers a range of insurance products and services, including homeowner’s, automotive, flood, earthquake, and life insurance. Other services provided by the company include excess liability or umbrella, motorcycle, recreational vehicle, general liability, and property insurance. With a total of 2,125 franchise locations, Goosehead Insurance, Inc. was established in 2003 and is headquarter in Westlake, Texas.
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