Goosehead Insurance (NASDAQ:GSHD) Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Goosehead Insurance (NASDAQ:GSHD) from a hold rating to a sell rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “Goosehead Insurance Inc. operates as an insurance agency. Its product portfolio includes homeowner’s insurance; auto insurance; other personal lines products including flood, wind and earthquake insurance; excess liability or umbrella insurance; specialty lines insurance, commercial lines insurance and life insurance. Goosehead Insurance Inc. is based in Texas, United States. “

Several other research firms also recently weighed in on GSHD. Bank of America initiated coverage on shares of Goosehead Insurance in a research report on Tuesday, November 17th. They issued a neutral rating and a $133.00 target price for the company. BidaskClub downgraded shares of Goosehead Insurance from a buy rating to a hold rating in a research report on Thursday, December 31st. Finally, Royal Bank of Canada boosted their target price on shares of Goosehead Insurance from $90.00 to $120.00 and gave the stock an outperform rating in a research report on Friday, October 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $120.25.

Goosehead Insurance stock opened at $134.53 on Wednesday. Goosehead Insurance has a 12-month low of $37.26 and a 12-month high of $137.28. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 292.46 and a beta of 0.64. The firm’s fifty day moving average price is $123.09 and its 200 day moving average price is $103.94.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.14. Goosehead Insurance had a net margin of 7.88% and a negative return on equity of 26.12%. The firm had revenue of $32.02 million for the quarter, compared to the consensus estimate of $28.64 million. As a group, sell-side analysts predict that Goosehead Insurance will post 0.54 earnings per share for the current year.

In other news, major shareholder Robyn Mary Elizabeth Jones sold 25,089 shares of Goosehead Insurance stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $110.72, for a total value of $2,777,854.08. Following the completion of the transaction, the insider now directly owns 333,790 shares of the company’s stock, valued at approximately $36,957,228.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ted Olsen sold 8,333 shares of Goosehead Insurance stock in a transaction dated Monday, January 4th. The shares were sold at an average price of $130.59, for a total transaction of $1,088,206.47. Following the completion of the transaction, the director now directly owns 8,333 shares of the company’s stock, valued at $1,088,206.47. The disclosure for this sale can be found here. Insiders sold a total of 447,771 shares of company stock valued at $54,598,304 over the last ninety days. Company insiders own 63.43% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC acquired a new position in Goosehead Insurance during the 3rd quarter valued at about $35,000. Point72 Hong Kong Ltd acquired a new position in Goosehead Insurance during the 3rd quarter valued at about $40,000. Nachman Norwood & Parrott Inc acquired a new position in Goosehead Insurance during the 3rd quarter valued at about $41,000. Fifth Third Bancorp boosted its stake in Goosehead Insurance by 13.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,718 shares of the company’s stock valued at $149,000 after purchasing an additional 201 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Goosehead Insurance by 84.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,937 shares of the company’s stock valued at $168,000 after purchasing an additional 887 shares during the period. 36.07% of the stock is owned by hedge funds and other institutional investors.

About Goosehead Insurance

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that provides personal lines insurance agency services in the United States. The company operates through two segments, Corporate Channel and Franchise Channel. It offers various insurance products, including homeowner's insurance; auto insurance; other personal lines products, such as flood, wind, and earthquake insurance; excess liability or umbrella insurance; specialty lines insurance comprising motorcycle, recreational vehicle, and other insurance; commercial lines insurance consisting of general liability, property, and auto insurance for small businesses; and life insurance.

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