Goosehead Insurance (NASDAQ:GSHD) Shares Gap Down – Here’s Why

Goosehead Insurance, Inc (NASDAQ:GSHD)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $110.35, but opened at $105.56. Goosehead Insurance shares last traded at $103.90, with a volume of 36,766 shares trading hands.

Analyst Ratings Changes

Several brokerages have weighed in on GSHD. JMP Securities increased their target price on shares of Goosehead Insurance from $100.00 to $115.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. BMO Capital Markets boosted their target price on Goosehead Insurance from $90.00 to $120.00 and gave the company a “market perform” rating in a research report on Tuesday, November 19th. Truist Financial upped their price target on Goosehead Insurance from $65.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. TD Cowen boosted their price objective on Goosehead Insurance from $94.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. Finally, Piper Sandler raised their target price on Goosehead Insurance from $103.00 to $122.00 and gave the company an “overweight” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $99.20.

Goosehead Insurance Stock Performance

The firm’s fifty day moving average price is $114.07 and its 200-day moving average price is $96.40. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 37.70. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 146.09, a PEG ratio of 4.52 and a beta of 1.41.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.05. The business had revenue of $78.04 million during the quarter, compared to the consensus estimate of $80.54 million. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 earnings per share. Analysts expect that Goosehead Insurance, Inc will post 0.84 earnings per share for the current year.

Goosehead Insurance Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 21st will be paid a dividend of $5.91 per share. The ex-dividend date is Tuesday, January 21st. This is a boost from Goosehead Insurance’s previous dividend of $1.63.

Insider Buying and Selling

In related news, major shareholder Adrienne Kebodeaux sold 43,928 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $100.21, for a total value of $4,402,024.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Miller sold 58,327 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $110.22, for a total value of $6,428,801.94. Following the transaction, the chief executive officer now owns 30,000 shares in the company, valued at $3,306,600. The trade was a 66.04 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 38.03% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

Several hedge funds have recently bought and sold shares of GSHD. Whittier Trust Co. of Nevada Inc. purchased a new position in Goosehead Insurance during the 3rd quarter valued at about $29,000. GAMMA Investing LLC raised its position in shares of Goosehead Insurance by 195.8% during the 3rd quarter. GAMMA Investing LLC now owns 349 shares of the company’s stock worth $31,000 after purchasing an additional 231 shares during the last quarter. Blue Trust Inc. lifted its stake in Goosehead Insurance by 567.6% in the 3rd quarter. Blue Trust Inc. now owns 474 shares of the company’s stock valued at $42,000 after buying an additional 403 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in Goosehead Insurance during the 3rd quarter valued at $60,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Goosehead Insurance during the 3rd quarter valued at $63,000.

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.