Goosehead Insurance (NASDAQ:GSHD) Trading Down 5.1% – What’s Next?

Goosehead Insurance (NASDAQ:GSHD)’s share price traded down 5.1% during mid-day 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

A number of research firms recently weighed in on GSHD. JPMorgan Chase & Co. upped their price target on Goosehead Insurance from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Piper Sandler increased their price objective on shares of Goosehead Insurance from $52.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods reduced their price target 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. Royal Bank Of Canada lifted their price objective on Goosehead Insurance from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 23rd. Finally, UBS Group boosted their price target on Goosehead Insurance from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Goosehead Insurance presently has an average rating of “Hold” and a consensus target price of $68.45.

Goosehead Insurance Stock Performance

The company has a market cap of $1.94 billion, a price-to-earnings ratio of 39.82, a price-to-earnings-growth ratio of 1.90 and a beta of 1.36. The stock’s fifty day simple moving average is $62.99 and its two-hundred day simple moving average is $50.14.

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

Insider Buying and Selling at Goosehead Insurance

In other news, major shareholder Adrienne Kebodeaux sold 7,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were 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 of the company’s stock, valued at approximately $19,111,890. This trade represents a 2.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Durable Capital Partners Lp purchased 36,256 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average cost of $61.92 per share, with a total value of $2,244,971.52. Following the completion of the transaction, the insider owned 2,570,260 shares in the company, valued at $159,150,499.20. This trade represents a 1.43% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 189,979 shares of company stock worth $11,348,632 and sold 267,000 shares worth $18,056,139. Corporate insiders own 38.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GSHD. Wasatch Advisors LP raised its stake in shares of Goosehead Insurance by 32.3% in the 1st quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock valued at $97,786,000 after purchasing an additional 559,087 shares in the last quarter. Langdon Equity Partners bought a new stake in shares of Goosehead Insurance in the 4th quarter valued at approximately $41,892,000. Janus Henderson Group PLC lifted its stake in Goosehead Insurance by 3,485.1% during the first quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock worth $16,506,000 after purchasing an additional 376,114 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Goosehead Insurance in the second quarter worth $6,545,000. Finally, 3G Capital Partners LP raised its holdings in shares of Goosehead Insurance by 80.0% during the fourth quarter. 3G Capital Partners LP now owns 225,000 shares of the company’s stock worth $16,571,000 after purchasing an additional 100,000 shares during the period.

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.