Goosehead Insurance (NASDAQ:GSHD) Trading Down 7.6% – What’s Next?

Goosehead Insurance (NASDAQ:GSHD) shares dropped 7.6% during mid-day trading on Wednesday . The company traded as low as $36.94 and last traded at $36.63. Approximately 104,186 shares were traded during trading, a decline of 77% from the average daily volume of 456,313 shares. The stock had previously closed at $39.65.

Analyst Upgrades and Downgrades

GSHD has been the topic of a number of recent research reports. Citizens Jmp dropped their price target on Goosehead Insurance from $125.00 to $100.00 and set a “market outperform” rating on the stock in a research report on Monday, April 13th. Weiss Ratings downgraded Goosehead Insurance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 20th. Royal Bank Of Canada increased their price target on Goosehead Insurance from $49.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. Wall Street Zen raised Goosehead Insurance from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Citigroup reissued an “outperform” rating on shares of Goosehead Insurance in a research report on Wednesday, February 18th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $67.45.

Goosehead Insurance Stock Performance

The stock has a market capitalization of $1.34 billion, a PE ratio of 32.97, a PEG ratio of 1.34 and a beta of 1.62. The business has a 50 day moving average of $43.82 and a two-hundred day moving average of $58.93.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.17. The firm had revenue of $79.48 million during the quarter, compared to analysts’ expectations of $105.16 million. Goosehead Insurance had a negative return on equity of 20.96% and a net margin of 7.94%.The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 EPS. On average, equities analysts expect that Goosehead Insurance will post 1.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder & Robyn Jones Descendants Mark sold 5,090 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $45.32, for a total transaction of $230,678.80. Following the completion of the sale, the insider directly owned 7,203,796 shares in the company, valued at $326,476,034.72. This represents a 0.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Louis Goldberg acquired 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, with a total value of $250,038.75. Following the completion of the purchase, the director directly owned 5,575 shares in the company, valued at $250,038.75. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 10,576 shares of company stock valued at $494,568 over the last 90 days. 38.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Goosehead Insurance

A number of hedge funds have recently made changes to their positions in GSHD. EverSource Wealth Advisors LLC raised its stake in Goosehead Insurance by 480.4% in the second quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock valued at $34,000 after buying an additional 269 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Goosehead Insurance in the fourth quarter valued at about $41,000. Northwestern Mutual Wealth Management Co. raised its stake in Goosehead Insurance by 802.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock valued at $47,000 after buying an additional 393 shares during the last quarter. Fifth Third Bancorp raised its stake in Goosehead Insurance by 71.4% in the third quarter. Fifth Third Bancorp now owns 682 shares of the company’s stock valued at $51,000 after buying an additional 284 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Goosehead Insurance by 614.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,000 shares of the company’s stock valued at $74,000 after buying an additional 860 shares during the last quarter.

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.