Goosehead Insurance (NASDAQ:GSHD) Stock Price Down 5.1% – Should You Sell?

Goosehead Insurance (NASDAQ:GSHD)’s share price was down 5.1% during trading on Thursday . The company traded as low as $53.29 and last traded at $53.6010. Approximately 264,762 shares were traded during mid-day trading, a decline of 45% from the average session volume of 479,335 shares. The stock had previously closed at $56.47.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. UBS Group lifted 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, July 27th. JPMorgan Chase & Co. lifted their price objective on shares of Goosehead Insurance from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Keefe, Bruyette & Woods lowered their target price on shares of Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Piper Sandler raised their price target on shares of Goosehead Insurance from $52.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings upgraded Goosehead Insurance from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 4th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $68.45.

Goosehead Insurance Stock Down 5.3%

The company has a market cap of $1.90 billion, a P/E ratio of 39.21, a price-to-earnings-growth ratio of 2.11 and a beta of 1.36. The firm’s 50-day moving average price is $62.96 and its 200-day moving average price is $50.11.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share 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 quarter in the prior year, the firm posted $0.49 EPS. Goosehead Insurance’s revenue was up 20.6% on a year-over-year basis. As a group, analysts forecast that Goosehead Insurance will post 1.46 earnings per share for the current year.

Insider Buying and Selling at Goosehead Insurance

In other news, major shareholder Adrienne Kebodeaux sold 7,000 shares of Goosehead Insurance stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $70.00, for a total value of $490,000.00. Following the transaction, the insider owned 273,027 shares in the company, valued at approximately $19,111,890. The trade was a 2.50% decrease in their ownership of the stock. 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 125,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $69.71, for a total value of $8,713,750.00. Following the completion of the sale, the insider owned 6,870,180 shares of the company’s stock, valued at $478,920,247.80. The trade was a 1.79% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have purchased 189,979 shares of company stock worth $11,348,632 and have sold 267,000 shares worth $18,056,139. 38.07% of the stock is owned by company insiders.

Institutional Trading of Goosehead Insurance

Hedge funds have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB raised its position in shares of Goosehead Insurance by 484.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company’s stock worth $25,000 after purchasing an additional 426 shares during the last quarter. Versant Capital Management Inc increased its stake in Goosehead Insurance by 471.9% during the 2nd quarter. Versant Capital Management Inc now owns 772 shares of the company’s stock valued at $37,000 after purchasing an additional 637 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Goosehead Insurance in the second quarter worth about $48,000. Nykredit A S purchased a new position in Goosehead Insurance in the second quarter worth about $50,000. Finally, Leonteq Securities AG bought a new position in shares of Goosehead Insurance in the fourth quarter worth approximately $83,000.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchised locations. The company represents multiple insurance carriers, allowing its agents to compare coverage options and help customers select policies based on their individual needs.

Its product offerings include homeowners, auto, renters, flood, personal umbrella and other personal-lines insurance, along with selected commercial insurance products.