Goosehead Insurance (NASDAQ:GSHD) Stock Price Down 7.7% – What’s Next?

Shares of Goosehead Insurance (NASDAQ:GSHD) dropped 7.7% during mid-day trading on Wednesday . The stock traded as low as $58.51 and last traded at $57.5080. Approximately 24,123 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 481,681 shares. The stock had previously closed at $62.32.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GSHD shares. Piper Sandler raised their price target on Goosehead Insurance from $52.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods dropped their price target on shares of Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. JPMorgan Chase & Co. increased their target price on Goosehead Insurance from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $76.00 price target on shares of Goosehead Insurance in a research note on Thursday, July 23rd. Finally, UBS Group increased their target price on Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $68.45.

Goosehead Insurance Trading Down 7.6%

The company’s 50 day moving average is $62.47 and its 200 day moving average is $49.71. The company has a market cap of $2.05 billion, a PE ratio of 42.09, a P/E/G ratio of 2.32 and a beta of 1.36.

Goosehead Insurance (NASDAQ:GSHD) last issued its earnings results on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.17. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The business had revenue of $95.63 million for the quarter, compared to analyst estimates of $103.30 million. During the same period last year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. Analysts expect that Goosehead Insurance will post 1.46 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $65.03, for a total value of $325,150.00. Following the sale, the insider directly owned 58,530 shares in the company, valued at approximately $3,806,205.90. This trade represents a 7.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 22,481 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $66.87, for a total transaction of $1,503,304.47. Following the completion of the sale, the insider owned 6,767,661 shares of the company’s stock, valued at approximately $452,553,491.07. This trade represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have bought 189,979 shares of company stock valued at $11,348,632 and have sold 267,000 shares valued at $18,056,139. 38.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Goosehead Insurance

Several institutional investors and hedge funds have recently modified their holdings of GSHD. AQR Capital Management LLC grew its position in Goosehead Insurance by 85.7% during the first quarter. AQR Capital Management LLC now owns 4,332 shares of the company’s stock valued at $511,000 after buying an additional 1,999 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Goosehead Insurance by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,369 shares of the company’s stock worth $1,578,000 after acquiring an additional 578 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Goosehead Insurance by 86.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 354,775 shares of the company’s stock worth $41,885,000 after acquiring an additional 164,693 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Goosehead Insurance by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,395 shares of the company’s stock valued at $6,894,000 after acquiring an additional 3,218 shares during the period. Finally, Intech Investment Management LLC grew its position in shares of Goosehead Insurance by 28.2% during the 1st quarter. Intech Investment Management LLC now owns 11,179 shares of the company’s stock valued at $1,320,000 after acquiring an additional 2,461 shares during the period.

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.