Goosehead Insurance (NASDAQ:GSHD) Trading Down 8.9% – Here’s What Happened

Goosehead Insurance (NASDAQ:GSHDGet Free Report) dropped 8.9% during trading on Thursday . The stock traded as low as $64.76 and last traded at $64.4480. 42,786 shares traded hands during trading, a decline of 92% from the average session volume of 508,065 shares. The stock had previously closed at $70.72.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GSHD shares. Cantor Fitzgerald restated an “overweight” rating and issued a $76.00 target price on shares of Goosehead Insurance in a research note on Thursday, July 23rd. Piper Sandler increased their target price on shares of Goosehead Insurance from $52.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Royal Bank Of Canada boosted their price target on shares of Goosehead Insurance from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd. UBS Group raised their price objective on Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods lowered their target price on Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $68.45.

Check Out Our Latest Stock Analysis on GSHD

Goosehead Insurance Stock Down 10.2%

The stock has a market cap of $2.26 billion, a PE ratio of 46.35, a PEG ratio of 2.48 and a beta of 1.41. The business’s 50-day simple moving average is $46.04 and its 200-day simple moving average is $48.80.

Goosehead Insurance (NASDAQ:GSHDGet Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.17. The company had revenue of $95.63 million for the quarter, compared to analysts’ expectations of $103.30 million. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%.Goosehead Insurance’s quarterly revenue was up 20.6% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. As a group, equities 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 82,689 shares of Goosehead Insurance stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $41.77, for a total transaction of $3,453,919.53. Following the completion of the transaction, the insider directly owned 7,050,356 shares of the company’s stock, valued at $294,493,370.12. This trade represents a 1.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John Arthur Martin purchased 5,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was acquired at an average price of $34.73 per share, for a total transaction of $173,650.00. Following the completion of the transaction, the chief financial officer directly owned 5,000 shares of the company’s stock, valued at approximately $173,650. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 166,523 shares of company stock worth $9,584,378 and sold 213,706 shares worth $8,828,378. 38.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Goosehead Insurance

Large investors have recently made changes to their positions in the business. Handelsbanken Fonder AB increased its holdings in Goosehead Insurance by 12.1% in the second quarter. Handelsbanken Fonder AB now owns 6,500 shares of the company’s stock valued at $315,000 after buying an additional 700 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Goosehead Insurance by 484.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company’s stock valued at $25,000 after acquiring an additional 426 shares during the period. Versant Capital Management Inc raised its position in Goosehead Insurance by 471.9% during the second quarter. Versant Capital Management Inc now owns 772 shares of the company’s stock worth $37,000 after acquiring an additional 637 shares during the period. Bank of America Corp DE lifted its stake in Goosehead Insurance by 28.2% in the 1st quarter. Bank of America Corp DE now owns 329,333 shares of the company’s stock valued at $14,049,000 after buying an additional 72,527 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Goosehead Insurance by 3,485.1% in the first quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock worth $16,506,000 after acquiring an additional 376,114 shares during the last quarter.

About Goosehead Insurance

(Get Free Report)

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.

Further Reading

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