Goosehead Insurance (NASDAQ:GSHD) Trading Down 5.7% – Here’s Why

Goosehead Insurance (NASDAQ:GSHD) was down 5.7% on Tuesday . The company traded as low as $38.91 and last traded at $39.30. Approximately 73,499 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 453,926 shares. The stock had previously closed at $41.68.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GSHD shares. Wall Street Zen upgraded Goosehead Insurance from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Bank of America lowered their price target on Goosehead Insurance from $43.00 to $37.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Citigroup reiterated an “outperform” rating on shares of Goosehead Insurance in a research report on Wednesday, February 18th. Truist Financial reduced their price objective on Goosehead Insurance from $72.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, February 18th. Finally, Cantor Fitzgerald reduced their price objective on Goosehead Insurance from $84.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Goosehead Insurance has a consensus rating of “Hold” and a consensus target price of $66.73.

Goosehead Insurance Stock Performance

The stock has a market capitalization of $1.43 billion, a P/E ratio of 35.14, a price-to-earnings-growth ratio of 1.44 and a beta of 1.62. The firm has a 50-day moving average price of $42.91 and a 200 day moving average price of $57.53.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.20 by $0.17. The firm had revenue of $79.48 million for the quarter, compared to analyst estimates of $105.16 million. Goosehead Insurance had a negative return on equity of 20.96% and a net margin of 7.94%.The company’s revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 EPS. On average, equities analysts anticipate that Goosehead Insurance will post 1.49 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder & Robyn Jones Descendants Mark sold 82,689 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $41.77, for a total transaction of $3,453,919.53. Following the transaction, the insider directly owned 7,050,356 shares in the company, valued at $294,493,370.12. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Martin Ellis Thornthwaite purchased 5,000 shares of Goosehead Insurance stock in a transaction that occurred on Monday, May 18th. The shares were bought at an average price of $41.50 per share, for a total transaction of $207,500.00. Following the completion of the transaction, the general counsel owned 5,000 shares in the company, valued at $207,500. The trade was a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 164,016 shares of company stock worth $6,874,749 over the last quarter. Corporate insiders own 38.07% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

Several institutional investors and hedge funds have recently bought and sold shares of GSHD. EverSource Wealth Advisors LLC grew its position in 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 during the last quarter. Kestra Advisory Services LLC bought a new position in Goosehead Insurance during the 4th quarter worth approximately $41,000. Northwestern Mutual Wealth Management Co. grew its position in 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 acquiring an additional 393 shares during the last quarter. Fifth Third Bancorp grew its position in Goosehead Insurance by 71.4% during the 3rd quarter. Fifth Third Bancorp now owns 682 shares of the company’s stock worth $51,000 after acquiring an additional 284 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Goosehead Insurance by 614.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,000 shares of the company’s stock worth $74,000 after acquiring an additional 860 shares during the last quarter.

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.