Goosehead Insurance (NASDAQ:GSHD) Reaches New 12-Month Low Following Insider Selling

Shares of Goosehead Insurance (NASDAQ:GSHD) reached a new 52-week low during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $35.42 and last traded at $35.5350, with a volume of 197969 shares trading hands. The stock had previously closed at $37.68.

Specifically, major shareholder & Robyn Jones Descendants Mark sold 9,588 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $40.76, for a total value of $390,806.88. Following the transaction, the insider owned 6,995,180 shares of the company’s stock, valued at approximately $285,123,536.80. This trade represents a 0.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 45,588 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $40.07, for a total transaction of $1,826,711.16. Following the completion of the sale, the insider owned 7,004,768 shares in the company, valued at $280,681,053.76. This represents a 0.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In related news, major shareholder & Robyn Jones Descendants Mark sold 82,689 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $41.77, for a total value of $3,453,919.53. Following the sale, the insider directly owned 7,050,356 shares in the company, valued at $294,493,370.12. This trade represents a 1.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Ratings Changes

GSHD has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Goosehead Insurance from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Piper Sandler cut their price target on shares of Goosehead Insurance from $60.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday. Citizens Jmp cut their price target on shares of Goosehead Insurance from $125.00 to $100.00 and set a “market outperform” rating on the stock in a research report on Monday, April 13th. UBS Group increased their price target on shares of Goosehead Insurance from $81.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. cut their price target on shares of Goosehead Insurance from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Goosehead Insurance currently has an average rating of “Hold” and a consensus price target of $66.73.

Goosehead Insurance Stock Performance

The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 31.22, a P/E/G ratio of 1.38 and a beta of 1.62. The firm’s fifty day simple moving average is $42.68 and its 200 day simple moving average is $57.13.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.17. Goosehead Insurance had a net margin of 7.94% and a negative return on equity of 20.96%. 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 company earned $0.26 earnings per share. The firm’s revenue was up 23.1% compared to the same quarter last year. Analysts forecast that Goosehead Insurance will post 1.49 earnings per share for the current year.

Institutional Investors Weigh In On Goosehead Insurance

Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings 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 worth $34,000 after buying an additional 269 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Goosehead Insurance by 802.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock worth $47,000 after purchasing an additional 393 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Goosehead Insurance during the fourth quarter worth about $41,000. Fifth Third Bancorp boosted its holdings in Goosehead Insurance by 71.4% in the third quarter. Fifth Third Bancorp now owns 682 shares of the company’s stock valued at $51,000 after acquiring an additional 284 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Goosehead Insurance by 614.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,000 shares of the company’s stock valued at $74,000 after acquiring an additional 860 shares during the last quarter.

Goosehead Insurance Company Profile

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.