Goosehead Insurance (NASDAQ:GSHD) Trading Down 5.8% on Analyst Downgrade

Goosehead Insurance, Inc (NASDAQ:GSHD) shares were down 5.8% during trading on Monday after UBS Group lowered their price target on the stock from $145.00 to $140.00. UBS Group currently has a buy rating on the stock. Goosehead Insurance traded as low as $95.01 and last traded at $93.74. Approximately 25,517 shares traded hands during trading, a decline of 91% from the average daily volume of 280,780 shares. The stock had previously closed at $99.54.

A number of other research analysts have also issued reports on GSHD. Piper Sandler dropped their price target on shares of Goosehead Insurance from $132.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Truist Financial restated a “hold” rating and set a $90.00 price objective (up from $80.00) on shares of Goosehead Insurance in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on Goosehead Insurance from $100.00 to $98.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Bank of America boosted their price target on Goosehead Insurance from $39.00 to $43.00 and gave the stock an “underperform” rating in a report on Tuesday, February 25th. Finally, Keefe, Bruyette & Woods increased their price objective on Goosehead Insurance from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $115.40.

Insiders Place Their Bets

In other news, Chairman Mark Evan Jones sold 40,000 shares of Goosehead Insurance stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $119.04, for a total value of $4,761,600.00. Following the transaction, the chairman now directly owns 38,951 shares of the company’s stock, valued at $4,636,727.04. The trade was a 50.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder & Robyn Jones Descendants Mark sold 19,600 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $123.09, for a total value of $2,412,564.00. Following the sale, the insider now owns 132,349 shares of the company’s stock, valued at $16,290,838.41. The trade was a 12.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 308,812 shares of company stock valued at $37,392,258. Insiders own 48.35% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alberta Investment Management Corp boosted its holdings in Goosehead Insurance by 232.8% in the 4th quarter. Alberta Investment Management Corp now owns 36,588 shares of the company’s stock worth $3,923,000 after acquiring an additional 25,595 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Goosehead Insurance in the fourth quarter worth about $536,000. Principal Financial Group Inc. increased its holdings in Goosehead Insurance by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 118,854 shares of the company’s stock valued at $12,744,000 after buying an additional 4,333 shares during the last quarter. Amundi acquired a new stake in Goosehead Insurance during the fourth quarter valued at approximately $1,902,000. Finally, Great Lakes Advisors LLC bought a new position in Goosehead Insurance during the 4th quarter worth approximately $8,737,000.

Goosehead Insurance Trading Down 5.0 %

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 company has a market cap of $3.53 billion, a price-to-earnings ratio of 131.34, a price-to-earnings-growth ratio of 5.17 and a beta of 1.48. The firm has a 50-day moving average price of $113.04 and a 200 day moving average price of $111.53.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Goosehead Insurance had a net margin of 6.77% and a return on equity of 284.41%. The business had revenue of $75.58 million during the quarter, compared to the consensus estimate of $78.59 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Goosehead Insurance, Inc will post 0.83 EPS for the current year.

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.