Goosehead Insurance (NASDAQ:GSHD) Trading Down 4.6% – Here’s Why

Goosehead Insurance (NASDAQ:GSHD) fell 4.6% during mid-day trading on Thursday . The stock traded as low as $55.62 and last traded at $54.2830. Approximately 70,229 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 491,350 shares. The stock had previously closed at $56.90.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GSHD shares. Royal Bank Of Canada increased their price objective on Goosehead Insurance from $49.00 to $52.00 and gave the company a “sector perform” rating in a report on Thursday, April 23rd. Bank of America dropped their target price on Goosehead Insurance from $43.00 to $37.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods raised their price target on Goosehead Insurance from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. UBS Group boosted their price target on Goosehead Insurance from $67.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Cantor Fitzgerald upped their price objective on shares of Goosehead Insurance from $67.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $66.18.

Goosehead Insurance Trading Down 7.2%

The stock has a 50-day simple moving average of $41.52 and a 200 day simple moving average of $50.65. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 46.31, a PEG ratio of 1.93 and a beta of 1.41.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Thursday, April 23rd. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.17. Goosehead Insurance had a negative return on equity of 20.96% and a net margin of 7.94%.The firm had revenue of $79.48 million during the quarter, compared to the consensus estimate of $105.16 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue was up 23.1% compared to the same quarter last year. As a group, research analysts forecast that Goosehead Insurance will post 1.48 EPS for the current fiscal year.

Insider Buying and Selling at Goosehead Insurance

In related news, CFO John Arthur Martin bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were purchased at an average cost of $34.73 per share, with a total value of $173,650.00. Following the completion of the acquisition, the chief financial officer directly owned 5,000 shares in the company, valued at approximately $173,650. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Patrick Ryan Langston purchased 2,800 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was bought at an average cost of $35.56 per share, with a total value of $99,568.00. Following the completion of the acquisition, the insider directly owned 7,800 shares of the company’s stock, valued at $277,368. This trade represents a 56.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 12,800 shares of company stock valued at $480,718 and have sold 219,192 shares valued at $9,092,267. Company insiders own 38.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Goosehead Insurance by 480.4% during 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 in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Goosehead Insurance by 802.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock worth $47,000 after buying an additional 393 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Goosehead Insurance by 484.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company’s stock valued at $25,000 after buying an additional 426 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Goosehead Insurance in the 4th quarter valued at $41,000. Finally, Versant Capital Management Inc increased its holdings in Goosehead Insurance by 471.9% in the 2nd quarter. Versant Capital Management Inc now owns 772 shares of the company’s stock worth $37,000 after acquiring an additional 637 shares in 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.