Goosehead Insurance (NASDAQ:GSHD) Stock Price Down 5.8% After Analyst Downgrade

Goosehead Insurance, Inc (NASDAQ:GSHD)’s share price was down 5.8% during mid-day trading on Monday after BMO Capital Markets lowered their price target on the stock from $148.00 to $142.00. BMO Capital Markets currently has a market perform rating on the stock. Goosehead Insurance traded as low as $95.01 and last traded at $93.74. Approximately 25,517 shares traded hands during trading, a decline of 91% from the average daily volume of 280,780 shares. The stock had previously closed at $99.54.

A number of other research analysts also recently commented on GSHD. Piper Sandler dropped their target price on shares of Goosehead Insurance from $132.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. UBS Group boosted their price objective on shares of Goosehead Insurance from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Keefe, Bruyette & Woods boosted their price target on Goosehead Insurance from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial reiterated a “hold” rating and set a $90.00 price objective (up from $80.00) on shares of Goosehead Insurance in a report on Tuesday, February 25th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $150.00 price target on shares of Goosehead Insurance in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Goosehead Insurance currently has an average rating of “Hold” and an average price target of $115.90.

Insider Buying and Selling

In other news, Director Thomas Mcconnon sold 205,000 shares of Goosehead Insurance stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $121.35, for a total transaction of $24,876,750.00. Following the transaction, the director now owns 339,008 shares in the company, valued at $41,138,620.80. The trade was a 37.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 43,712 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $120.82, for a total transaction of $5,281,283.84. Following the sale, the insider now directly owns 132,349 shares in the company, valued at $15,990,406.18. This trade represents a 24.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 308,812 shares of company stock valued at $37,392,258 over the last quarter. Corporate insiders own 48.35% of the company’s stock.

Institutional Trading of Goosehead Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. increased its position in Goosehead Insurance by 192.9% during the 1st quarter. Bessemer Group Inc. now owns 290 shares of the company’s stock worth $34,000 after purchasing an additional 191 shares in the last quarter. R Squared Ltd acquired a new stake in Goosehead Insurance during the 4th quarter worth about $39,000. Kestra Investment Management LLC acquired a new stake in Goosehead Insurance during the 4th quarter worth about $63,000. GAMMA Investing LLC grew its holdings in Goosehead Insurance by 73.6% during the 4th quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock worth $65,000 after acquiring an additional 257 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Goosehead Insurance by 462.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 619 shares of the company’s stock valued at $64,000 after buying an additional 509 shares during the period.

Goosehead Insurance Stock Performance

The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 127.75, a P/E/G ratio of 5.17 and a beta of 1.48. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.55 and a current ratio of 1.55. The company has a 50 day moving average price of $113.44 and a 200 day moving average price of $111.50.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $75.58 million for the quarter, compared to analysts’ expectations of $78.59 million. Goosehead Insurance had a net margin of 6.77% and a return on equity of 284.41%. Goosehead Insurance’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. Equities research analysts predict that Goosehead Insurance, Inc will post 0.83 earnings per share for the current fiscal year.

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.