Goosehead Insurance (NASDAQ:GSHD) Shares Down 4.6% – Here’s What Happened

Goosehead Insurance, Inc (NASDAQ:GSHD)’s stock price was down 4.6% during mid-day trading on Thursday . The stock traded as low as $98.35 and last traded at $98.48. Approximately 34,465 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 227,265 shares. The stock had previously closed at $103.25.

Analyst Ratings Changes

GSHD has been the topic of a number of recent research reports. JMP Securities raised their price objective on shares of Goosehead Insurance from $100.00 to $115.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of Goosehead Insurance from $77.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Piper Sandler upped their target price on Goosehead Insurance from $103.00 to $122.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Royal Bank of Canada lifted their price target on Goosehead Insurance from $95.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, BMO Capital Markets raised their price objective on shares of Goosehead Insurance from $90.00 to $120.00 and gave the stock a “market perform” rating in a report on Tuesday, November 19th. One 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. Based on data from MarketBeat.com, Goosehead Insurance currently has a consensus rating of “Hold” and a consensus price target of $99.20.

Goosehead Insurance Stock Down 4.3 %

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 firm has a market cap of $3.67 billion, a P/E ratio of 137.27, a price-to-earnings-growth ratio of 4.36 and a beta of 1.41. The stock’s fifty day moving average is $113.47 and its two-hundred day moving average is $96.79.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.05. The firm had revenue of $78.04 million for the quarter, compared to analysts’ expectations of $80.54 million. Goosehead Insurance had a net margin of 6.77% and a return on equity of 284.41%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. As a group, research analysts anticipate that Goosehead Insurance, Inc will post 0.84 earnings per share for the current year.

Goosehead Insurance Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 21st will be issued a dividend of $5.91 per share. This is a positive change from Goosehead Insurance’s previous dividend of $1.63. The ex-dividend date of this dividend is Tuesday, January 21st.

Insiders Place Their Bets

In other Goosehead Insurance news, CEO Mark Miller sold 58,327 shares of Goosehead Insurance stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $110.22, for a total transaction of $6,428,801.94. Following the completion of the sale, the chief executive officer now owns 30,000 shares of the company’s stock, valued at $3,306,600. The trade was a 66.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 48.35% of the company’s stock.

Institutional Trading of Goosehead Insurance

A number of institutional investors have recently modified their holdings of the company. Mechanics Bank Trust Department grew its position in shares of Goosehead Insurance by 4.5% in the 4th quarter. Mechanics Bank Trust Department now owns 2,552 shares of the company’s stock worth $274,000 after buying an additional 109 shares during the last quarter. GAMMA Investing LLC lifted its stake in Goosehead Insurance by 195.8% in the third quarter. GAMMA Investing LLC now owns 349 shares of the company’s stock worth $31,000 after acquiring an additional 231 shares during the period. HighTower Advisors LLC boosted its holdings in Goosehead Insurance by 5.8% in the third quarter. HighTower Advisors LLC now owns 5,040 shares of the company’s stock valued at $448,000 after acquiring an additional 276 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Goosehead Insurance in the 3rd quarter worth $29,000. Finally, R Squared Ltd purchased a new stake in shares of Goosehead Insurance in the 4th quarter worth about $39,000.

Goosehead Insurance Company Profile

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.