Goosehead Insurance (NASDAQ:GSHD) Stock Price Down 2.2% Following Insider Selling

Goosehead Insurance, Inc (NASDAQ:GSHD)’s share price dropped 2.2% on Tuesday after an insider sold shares in the company. The stock traded as low as $72.25 and last traded at $73.18. Approximately 146,864 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 264,716 shares. The stock had previously closed at $74.79.

Specifically, major shareholder & Robyn Jones Descendants Mark sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $68.83, for a total transaction of $3,441,500.00. Following the completion of the transaction, the insider now directly owns 132,349 shares in the company, valued at approximately $9,109,581.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Lanni Romney sold 7,500 shares of the company’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $76.34, for a total transaction of $572,550.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder & Robyn Jones Descendants Mark sold 50,000 shares of Goosehead Insurance stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $68.83, for a total value of $3,441,500.00. Following the completion of the transaction, the insider now owns 132,349 shares of the company’s stock, valued at $9,109,581.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,136 shares of company stock worth $10,047,304. 42.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. BMO Capital Markets upgraded Goosehead Insurance from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, September 20th. Piper Sandler boosted their price target on shares of Goosehead Insurance from $76.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, October 26th. UBS Group began coverage on shares of Goosehead Insurance in a report on Tuesday, October 17th. They issued a “buy” rating and a $84.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of Goosehead Insurance from $72.00 to $80.00 in a research note on Thursday, July 27th. Finally, JPMorgan Chase & Co. raised their price target on Goosehead Insurance from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $75.00.

Goosehead Insurance Price Performance

The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 160.47, a price-to-earnings-growth ratio of 3.65 and a beta of 1.22. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 12.15. The company’s 50 day moving average is $71.76 and its 200 day moving average is $65.37.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Wednesday, October 25th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.15. Goosehead Insurance had a negative return on equity of 79.96% and a net margin of 4.31%. The business had revenue of $71.03 million for the quarter, compared to analysts’ expectations of $69.49 million. Research analysts anticipate that Goosehead Insurance, Inc will post 0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Jump Financial LLC grew its position in shares of Goosehead Insurance by 93.0% during the first quarter. Jump Financial LLC now owns 25,088 shares of the company’s stock worth $1,310,000 after acquiring an additional 12,088 shares during the last quarter. Signaturefd LLC grew its position in Goosehead Insurance by 100.9% during the 2nd quarter. Signaturefd LLC now owns 866 shares of the company’s stock worth $54,000 after purchasing an additional 435 shares during the last quarter. William Blair Investment Management LLC increased its stake in Goosehead Insurance by 51.3% in the first quarter. William Blair Investment Management LLC now owns 739,154 shares of the company’s stock valued at $38,584,000 after purchasing an additional 250,480 shares during the period. Arizona State Retirement System purchased a new stake in shares of Goosehead Insurance in the first quarter valued at about $304,000. Finally, Hodges Capital Management Inc. grew its holdings in shares of Goosehead Insurance by 15.9% during the second quarter. Hodges Capital Management Inc. now owns 64,122 shares of the company’s stock worth $5,989,000 after buying an additional 8,819 shares during the last quarter.

About Goosehead Insurance

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that provides personal lines insurance agency services in the United States. It 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.