Goosehead Insurance (NASDAQ:GSHD) Trading Down 4.2% – What’s Next?

Shares of Goosehead Insurance (NASDAQ:GSHD) were down 4.2% during mid-day trading on Wednesday . The stock traded as low as $35.88 and last traded at $35.89. 116,183 shares changed hands during trading, a decline of 75% from the average daily volume of 466,175 shares. The stock had previously closed at $37.45.

Analysts Set New Price Targets

GSHD has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their target price on shares of Goosehead Insurance from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Weiss Ratings downgraded shares of Goosehead Insurance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 20th. Piper Sandler dropped their price objective on shares of Goosehead Insurance from $60.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. UBS Group decreased their target price on Goosehead Insurance from $85.00 to $67.00 and set a “buy” rating for the company in a research note on Tuesday, June 9th. Finally, Citizens Jmp lowered their target price on Goosehead Insurance from $125.00 to $100.00 and set a “market outperform” rating for the company in a report on Monday, April 13th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Goosehead Insurance currently has a consensus rating of “Hold” and a consensus price target of $65.09.

Goosehead Insurance Price Performance

The firm’s fifty day moving average price is $40.58 and its 200-day moving average price is $53.33. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 1.22 and a beta of 1.52.

Goosehead Insurance (NASDAQ:GSHD) last released 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 business had revenue of $79.48 million for the quarter, compared to analysts’ expectations of $105.16 million. Goosehead Insurance had a net margin of 7.94% and a negative return on equity of 20.96%. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 EPS. As a group, equities analysts forecast that Goosehead Insurance will post 1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder & Robyn Jones Descendants Mark sold 9,588 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $40.76, for a total transaction of $390,806.88. Following the completion of the transaction, the insider directly owned 6,995,180 shares in the company, valued at approximately $285,123,536.80. The trade was a 0.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Martin Ellis Thornthwaite acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average cost of $41.50 per share, with a total value of $207,500.00. Following the completion of the acquisition, the general counsel directly owned 5,000 shares in the company, valued at approximately $207,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 12,800 shares of company stock worth $480,718 and sold 219,192 shares worth $9,092,267. Insiders own 38.07% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GSHD. EverSource Wealth Advisors LLC raised its stake in shares of Goosehead Insurance by 480.4% during the second quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock valued at $34,000 after purchasing an additional 269 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Goosehead Insurance in the 4th quarter valued at about $41,000. Northwestern Mutual Wealth Management Co. grew its position 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 buying an additional 393 shares in the last quarter. Fifth Third Bancorp increased its stake in Goosehead Insurance by 71.4% during the 3rd 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 period. Finally, Quadrant Capital Group LLC raised its position in shares of Goosehead Insurance by 614.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,000 shares of the company’s stock worth $74,000 after buying an additional 860 shares in the last quarter.

Goosehead Insurance Company Profile

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.