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

Goosehead Insurance (NASDAQ:GSHD) shares gapped down prior to trading on Thursday . The stock had previously closed at $39.65, but opened at $36.41. Goosehead Insurance shares last traded at $37.53, with a volume of 7,644 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada raised their price objective on shares of Goosehead Insurance from $49.00 to $52.00 and gave the company a “sector perform” rating in a report on Thursday, April 23rd. Truist Financial cut their price target on Goosehead Insurance from $72.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, February 18th. JPMorgan Chase & Co. lowered their price objective on Goosehead Insurance from $68.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. UBS Group raised their target price on Goosehead Insurance from $81.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Citizens Jmp lowered their price target on Goosehead Insurance from $125.00 to $100.00 and set a “market outperform” rating for the company in a report on Monday, April 13th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $67.73.

Goosehead Insurance Trading Up 1.4%

The company has a 50 day simple moving average of $44.13 and a 200 day simple moving average of $59.19. The stock has a market capitalization of $1.31 billion, a PE ratio of 32.48, a P/E/G ratio of 1.46 and a beta of 1.62.

Goosehead Insurance (NASDAQ:GSHD) last announced its earnings results on Thursday, April 23rd. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.17. Goosehead Insurance had a negative return on equity of 20.96% and a net margin of 7.94%.The company had revenue of $79.48 million for the quarter, compared to the consensus estimate of $105.16 million. During the same period last year, the business posted $0.26 EPS. The company’s revenue was up 23.1% on a year-over-year basis. On average, equities research analysts predict that Goosehead Insurance will post 1.4 EPS for the current year.

Insider Buying and Selling at Goosehead Insurance

In other news, Director Louis Goldberg bought 5,575 shares of the stock in a transaction dated Friday, February 20th. The shares were acquired at an average price of $44.85 per share, with a total value of $250,038.75. Following the completion of the acquisition, the director directly owned 5,575 shares in the company, valued at approximately $250,038.75. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 5,307 shares of the business’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $48.07, for a total transaction of $255,107.49. Following the transaction, the insider owned 7,214,193 shares in the company, valued at approximately $346,786,257.51. This trade represents a 0.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,576 shares of company stock worth $494,568 over the last three months. 38.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Goosehead Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in Goosehead Insurance by 85.7% during the first quarter. AQR Capital Management LLC now owns 4,332 shares of the company’s stock worth $511,000 after acquiring an additional 1,999 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Goosehead Insurance by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,369 shares of the company’s stock worth $1,578,000 after purchasing an additional 578 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Goosehead Insurance by 86.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 354,775 shares of the company’s stock worth $41,885,000 after purchasing an additional 164,693 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Goosehead Insurance by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,395 shares of the company’s stock valued at $6,894,000 after purchasing an additional 3,218 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of Goosehead Insurance by 28.2% in the 1st quarter. Intech Investment Management LLC now owns 11,179 shares of the company’s stock valued at $1,320,000 after purchasing an additional 2,461 shares in the last quarter.

About Goosehead Insurance

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.