Goosehead Insurance (NASDAQ:GSHD) Trading Down 6.8% – Here’s Why

Goosehead Insurance (NASDAQ:GSHD)’s stock price traded down 6.8% during trading on Tuesday . The stock traded as low as $71.13 and last traded at $71.21. 105,886 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 310,117 shares. The stock had previously closed at $76.37.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. BMO Capital Markets decreased their price target on shares of Goosehead Insurance from $110.00 to $79.00 and set a “market perform” rating for the company in a research report on Tuesday, November 25th. Truist Financial cut their target price on shares of Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, October 23rd. Citigroup restated an “outperform” rating on shares of Goosehead Insurance in a research note on Tuesday, October 14th. JMP Securities decreased their target price on Goosehead Insurance from $150.00 to $140.00 and set a “market outperform” rating for the company in a research report on Tuesday, October 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Goosehead Insurance in a research report on Friday, October 31st. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $92.20.

Goosehead Insurance Trading Up 2.5%

The stock has a market capitalization of $2.68 billion, a P/E ratio of 64.42, a P/E/G ratio of 11.82 and a beta of 1.52. The company’s 50-day moving average is $70.90 and its two-hundred day moving average is $83.75.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). Goosehead Insurance had a net margin of 8.55% and a negative return on equity of 34.60%. The business had revenue of $90.44 million for the quarter, compared to the consensus estimate of $94.25 million. During the same period last year, the firm posted $0.50 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. Sell-side analysts expect that Goosehead Insurance will post 0.83 EPS for the current fiscal year.

Insider Activity at Goosehead Insurance

In related news, Director Thomas Mcconnon sold 69,686 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $73.62, for a total value of $5,130,283.32. Following the completion of the sale, the director owned 269,322 shares of the company’s stock, valued at $19,827,485.64. This represents a 20.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel John Terry O’connor purchased 2,100 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were bought at an average price of $71.81 per share, for a total transaction of $150,801.00. Following the completion of the transaction, the general counsel directly owned 3,100 shares in the company, valued at $222,611. This represents a 210.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 7,973 shares of company stock valued at $577,487 in the last ninety days. Company insiders own 48.35% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its position in shares of Goosehead Insurance by 480.4% in the second 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. grew its holdings in shares of Goosehead Insurance by 802.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock valued at $47,000 after buying an additional 393 shares in the last quarter. CWM LLC increased its holdings in shares of Goosehead Insurance by 73.8% in the 2nd quarter. CWM LLC now owns 471 shares of the company’s stock valued at $50,000 after purchasing an additional 200 shares during the period. SVB Wealth LLC purchased a new position in shares of Goosehead Insurance during the 1st quarter valued at $62,000. Finally, AlphaQuest LLC acquired a new position in Goosehead Insurance in the 1st quarter worth about $72,000.

About Goosehead Insurance

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that engages in the provision of personal lines insurance agency services in the United States. The company offers homeowner’s, automotive, dwelling property, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services.