Goosehead Insurance (NASDAQ:GSHD) Stock Price Down 7.6% – What’s Next?

Goosehead Insurance (NASDAQ:GSHD)’s share price fell 7.6% on Wednesday . The stock traded as low as $36.94 and last traded at $36.63. 104,186 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 456,313 shares. The stock had previously closed at $39.65.

Wall Street Analysts Forecast Growth

Several analysts have commented on GSHD shares. Truist Financial dropped their price objective on Goosehead Insurance from $72.00 to $58.00 and set a “hold” rating on the stock in a report on Wednesday, February 18th. Wall Street Zen upgraded Goosehead Insurance from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. UBS Group boosted their price target on shares of Goosehead Insurance from $81.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, April 27th. BMO Capital Markets reduced their price objective on shares of Goosehead Insurance from $79.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday, February 18th. Finally, Cantor Fitzgerald dropped their target price on shares of 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 equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $67.73.

Goosehead Insurance Price Performance

The stock has a market capitalization of $1.30 billion, a PE ratio of 31.92, a P/E/G ratio of 1.47 and a beta of 1.62. The company’s 50 day moving average price is $44.51 and its two-hundred day moving average price is $59.45.

Goosehead Insurance (NASDAQ:GSHD) last issued its earnings results on Thursday, April 23rd. The company reported $0.37 earnings per share for the quarter, topping 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 business had revenue of $79.48 million for the quarter, compared to analysts’ expectations of $105.16 million. During the same period in the previous year, the firm posted $0.26 EPS. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. Analysts forecast that Goosehead Insurance will post 1.4 earnings per share for the current year.

Insider Buying and Selling at Goosehead Insurance

In other news, Director Louis Goldberg acquired 5,575 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was purchased 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 owned 5,575 shares of the company’s stock, valued at $250,038.75. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder & Robyn Jones Descendants Mark sold 5,307 shares of Goosehead Insurance 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 directly owned 7,214,193 shares in the company, valued at $346,786,257.51. This trade represents a 0.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 10,576 shares of company stock worth $494,568. Insiders own 38.07% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GSHD. Meixler Investment Management Ltd. grew its stake in shares of Goosehead Insurance by 5.3% in the 4th quarter. Meixler Investment Management Ltd. now owns 4,355 shares of the company’s stock valued at $321,000 after purchasing an additional 220 shares during the last quarter. Gibbs Wealth Management raised its holdings in shares of Goosehead Insurance by 3.8% in the fourth quarter. Gibbs Wealth Management now owns 6,133 shares of the company’s stock worth $459,000 after acquiring an additional 227 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Goosehead Insurance by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,022 shares of the company’s stock valued at $1,268,000 after purchasing an additional 259 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Goosehead Insurance by 480.4% during the second quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock valued at $34,000 after buying an additional 269 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Goosehead Insurance by 0.4% during the 3rd quarter. Rhumbline Advisers now owns 69,012 shares of the company’s stock worth $5,136,000 after purchasing an additional 284 shares during the period.

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.