Goosehead Insurance Inc’s Lock-Up Period To End on October 24th (NASDAQ:GSHD)

Goosehead Insurance’s (NASDAQ:GSHD) lock-up period is set to end on Wednesday, October 24th. Goosehead Insurance had issued 8,530,000 shares in its IPO on April 27th. The total size of the offering was $85,300,000 based on an initial share price of $10.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Goosehead Insurance from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Wednesday, July 25th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $28.00 price target on shares of Goosehead Insurance in a research note on Thursday, August 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $25.00.

NASDAQ:GSHD traded down $0.83 during mid-day trading on Friday, hitting $28.32. 217,575 shares of the company’s stock were exchanged, compared to its average volume of 166,723. Goosehead Insurance has a fifty-two week low of $10.78 and a fifty-two week high of $38.18.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Monday, November 5th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $16.05 million for the quarter, compared to analyst estimates of $15.60 million. On average, analysts expect that Goosehead Insurance will post 0.26 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in GSHD. BlackRock Inc. increased its stake in Goosehead Insurance by 3.1% during the 3rd quarter. BlackRock Inc. now owns 527,744 shares of the company’s stock valued at $17,875,000 after purchasing an additional 16,098 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Goosehead Insurance by 38.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 45,759 shares of the company’s stock worth $1,551,000 after acquiring an additional 12,714 shares during the last quarter. Alliancebernstein L.P. purchased a new position in Goosehead Insurance during the 3rd quarter worth $339,000. Meeder Asset Management Inc. boosted its holdings in Goosehead Insurance by 2,831.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 4,720 shares of the company’s stock worth $160,000 after acquiring an additional 4,559 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Goosehead Insurance by 394.5% during the 3rd quarter. Wells Fargo & Company MN now owns 5,904 shares of the company’s stock worth $199,000 after acquiring an additional 4,710 shares during the last quarter. Institutional investors own 75.79% of the company’s stock.

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About Goosehead Insurance

Goosehead Insurance, Inc focuses on operating as a holding company for Goosehead Financial, LLC that provides personal lines insurance agency services in the United States. The company operates through two segments, Corporate Channel and Franchise Channel. It offers various insurance products, including homeowner's insurance; auto insurance; other personal lines products, such as flood, wind, and earthquake insurance; excess liability or umbrella insurance; specialty lines insurance comprising motorcycle, recreational vehicle, and other insurance; commercial lines insurance consisting of general liability, property, and auto insurance for small businesses; and life insurance.

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