Goosehead Insurance (NASDAQ:GSHD) Trading Down 5.7% – Here’s Why

Goosehead Insurance (NASDAQ:GSHD) traded down 5.7% during trading on Tuesday . The company traded as low as $38.91 and last traded at $39.30. 73,499 shares were traded during trading, a decline of 84% from the average session volume of 453,926 shares. The stock had previously closed at $41.68.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Weiss Ratings cut Goosehead Insurance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 20th. 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. Citigroup reaffirmed an “outperform” rating on shares of Goosehead Insurance in a research report on Wednesday, February 18th. Piper Sandler cut their price target on Goosehead Insurance from $60.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Wall Street Zen raised Goosehead Insurance from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $66.73.

Goosehead Insurance Trading Down 3.9%

The business has a fifty day moving average of $42.91 and a 200-day moving average of $57.53. The firm has a market cap of $1.43 billion, a PE ratio of 35.14, a PEG ratio of 1.44 and a beta of 1.62.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.37 earnings per share (EPS) 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 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 quarter in the prior year, the firm posted $0.26 EPS. On average, equities analysts forecast that Goosehead Insurance will post 1.49 EPS for the current year.

Insider Transactions at Goosehead Insurance

In related news, General Counsel Martin Ellis Thornthwaite acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average price of $41.50 per share, with a total value of $207,500.00. Following the acquisition, the general counsel owned 5,000 shares of the company’s stock, valued at approximately $207,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 82,689 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $41.77, for a total value of $3,453,919.53. Following the sale, the insider directly owned 7,050,356 shares in the company, valued at $294,493,370.12. This trade represents a 1.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 164,016 shares of company stock worth $6,874,749 in the last three months. 38.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Goosehead Insurance

A number of institutional investors have recently added to or reduced their stakes in GSHD. EverSource Wealth Advisors LLC increased its stake in Goosehead Insurance by 480.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock worth $34,000 after acquiring an additional 269 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Goosehead Insurance in the 4th quarter worth about $41,000. Northwestern Mutual Wealth Management Co. increased its stake in Goosehead Insurance by 802.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock worth $47,000 after acquiring an additional 393 shares during the last quarter. Fifth Third Bancorp increased its stake in Goosehead Insurance by 71.4% in the 3rd quarter. Fifth Third Bancorp now owns 682 shares of the company’s stock worth $51,000 after acquiring an additional 284 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Goosehead Insurance by 614.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,000 shares of the company’s stock worth $74,000 after acquiring 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.