Goosehead Insurance (NASDAQ:GSHD) Trading Down 8.9% – Time to Sell?

Shares of Goosehead Insurance (NASDAQ:GSHD) fell 8.9% during trading on Thursday . The company traded as low as $64.76 and last traded at $64.4480. 42,786 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 508,065 shares. The stock had previously closed at $70.72.

Wall Street Analyst Weigh In

GSHD has been the topic of a number of analyst reports. Citizens Jmp reduced their price objective 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. UBS Group boosted their price target on shares of Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday. Weiss Ratings raised shares of Goosehead Insurance from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 9th. Bank of America dropped their price target on shares of Goosehead Insurance from $43.00 to $37.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods lowered their price objective on Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $68.45.

Goosehead Insurance Trading Down 10.2%

The stock’s 50 day moving average is $46.04 and its 200 day moving average is $48.80. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 46.35, a PEG ratio of 2.48 and a beta of 1.41.

Goosehead Insurance (NASDAQ:GSHD) last announced its earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.17. The company had revenue of $95.63 million during the quarter, compared to analysts’ expectations of $103.30 million. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. On average, sell-side analysts anticipate that Goosehead Insurance will post 1.45 EPS for the current year.

Insider Transactions at Goosehead Insurance

In related news, major shareholder Durable Capital Partners Lp bought 40,077 shares of the stock in a transaction on Monday, July 27th. The shares were purchased at an average price of $61.72 per share, for a total transaction of $2,473,552.44. Following the acquisition, the insider owned 2,534,004 shares in the company, valued at $156,398,726.88. This represents a 1.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Patrick Ryan Langston purchased 2,800 shares of the company’s stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $35.56 per share, with a total value of $99,568.00. Following the transaction, the insider directly owned 7,800 shares of the company’s stock, valued at $277,368. This represents a 56.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 166,523 shares of company stock worth $9,584,378 and have sold 213,706 shares worth $8,828,378. Corporate insiders own 38.07% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wasatch Advisors LP boosted its position in Goosehead Insurance by 32.3% during the first quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock worth $97,786,000 after acquiring an additional 559,087 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Goosehead Insurance by 38.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,002,003 shares of the company’s stock valued at $147,448,000 after purchasing an additional 556,293 shares during the last quarter. Durable Capital Partners LP lifted its position in Goosehead Insurance by 126.5% during the third quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company’s stock worth $114,769,000 after buying an additional 861,374 shares during the period. DF Dent & Co. Inc. increased its position in Goosehead Insurance by 3.2% during the 4th quarter. DF Dent & Co. Inc. now owns 1,044,660 shares of the company’s stock worth $76,939,000 after purchasing an additional 32,246 shares in the last quarter. Finally, State Street Corp grew its position in shares of Goosehead Insurance by 1.4% during the second quarter. State Street Corp now owns 1,027,500 shares of the company’s stock worth $108,412,000 after buying an additional 14,311 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.