Goosehead Insurance (NASDAQ:GSHD) Stock Price Down 5.4% – Here’s What Happened

Goosehead Insurance (NASDAQ:GSHD) shares were down 5.4% during mid-day trading on Tuesday . The company traded as low as $54.33 and last traded at $54.1570. 95,223 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 495,282 shares. The stock had previously closed at $57.23.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GSHD. Weiss Ratings raised shares of Goosehead Insurance from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 9th. Bank of America cut their price target on shares of Goosehead Insurance from $43.00 to $37.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Citizens Jmp reduced their price objective on shares of Goosehead Insurance from $125.00 to $100.00 and set a “market outperform” rating on the stock in a research note on Monday, April 13th. UBS Group raised their price objective on shares of Goosehead Insurance from $67.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Royal Bank Of Canada boosted their target price on shares of Goosehead Insurance from $52.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Monday, July 13th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $68.73.

Goosehead Insurance Stock Performance

The firm has a market capitalization of $1.95 billion, a P/E ratio of 47.97, a P/E/G ratio of 1.92 and a beta of 1.41. The stock has a fifty day moving average price of $43.16 and a two-hundred day moving average price of $49.45.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.17. The firm had revenue of $79.48 million for the quarter, compared to analysts’ expectations of $105.16 million. Goosehead Insurance had a negative return on equity of 20.96% and a net margin of 7.94%.The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period last year, the business posted $0.26 earnings per share. As a group, research analysts anticipate that Goosehead Insurance will post 1.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Goosehead Insurance

In related news, major shareholder & Robyn Jones Descendants Mark sold 9,588 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $40.76, for a total transaction of $390,806.88. Following the completion of the sale, the insider owned 6,995,180 shares of the company’s stock, valued at $285,123,536.80. This represents a 0.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Patrick Ryan Langston acquired 2,800 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average price of $35.56 per share, for a total transaction of $99,568.00. Following the purchase, the insider owned 7,800 shares of the company’s stock, valued at $277,368. This trade represents a 56.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 12,800 shares of company stock valued at $480,718 and sold 219,192 shares valued at $9,092,267. Company insiders own 38.07% of the company’s stock.

Institutional Trading of Goosehead Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in GSHD. Phocas Financial Corp. acquired a new position in Goosehead Insurance during the 4th quarter worth $3,669,000. Langdon Equity Partners acquired a new position in shares of Goosehead Insurance during the fourth quarter valued at $41,892,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Goosehead Insurance by 43,893.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 65,111 shares of the company’s stock valued at $4,795,000 after purchasing an additional 64,963 shares in the last quarter. M&T Bank Corp raised its stake in shares of Goosehead Insurance by 1,075.4% during the fourth quarter. M&T Bank Corp now owns 115,834 shares of the company’s stock valued at $8,531,000 after purchasing an additional 105,979 shares in the last quarter. Finally, UBS Group AG lifted its holdings in Goosehead Insurance by 26.7% in the fourth quarter. UBS Group AG now owns 156,019 shares of the company’s stock worth $11,491,000 after purchasing an additional 32,920 shares during the period.

Goosehead Insurance Company Profile

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.