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

Goosehead Insurance, Inc (NASDAQ:GSHD)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $110.35, but opened at $105.56. Goosehead Insurance shares last traded at $103.90, with a volume of 36,766 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GSHD shares. Piper Sandler upped their price objective on Goosehead Insurance from $103.00 to $122.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. TD Cowen lifted their price target on shares of Goosehead Insurance from $94.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, November 20th. Royal Bank of Canada boosted their price objective on shares of Goosehead Insurance from $95.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Truist Financial raised their target price on shares of Goosehead Insurance from $65.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Finally, BMO Capital Markets upped their price target on shares of Goosehead Insurance from $90.00 to $120.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $99.20.

Goosehead Insurance Price Performance

The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 146.09, a P/E/G ratio of 4.52 and a beta of 1.41. The business’s 50-day moving average price is $114.07 and its two-hundred day moving average price is $96.40. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.55 and a quick ratio of 1.55.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%. The business had revenue of $78.04 million during the quarter, compared to the consensus estimate of $80.54 million. During the same period last year, the firm earned $0.28 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, research analysts forecast that Goosehead Insurance, Inc will post 0.84 EPS for the current fiscal year.

Goosehead Insurance Increases Dividend

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

Insiders Place Their Bets

In other Goosehead Insurance news, major shareholder Adrienne Kebodeaux sold 43,928 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $100.21, for a total value of $4,402,024.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Miller sold 58,327 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $110.22, for a total value of $6,428,801.94. Following the transaction, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at $3,306,600. This trade represents a 66.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 38.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Cottonwood Capital Advisors LLC acquired a new position in shares of Goosehead Insurance during the fourth quarter worth approximately $249,000. Janney Montgomery Scott LLC increased its holdings in shares of Goosehead Insurance by 10.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 6,880 shares of the company’s stock valued at $738,000 after purchasing an additional 679 shares during the period. SG Americas Securities LLC raised its stake in shares of Goosehead Insurance by 885.5% during the fourth quarter. SG Americas Securities LLC now owns 51,662 shares of the company’s stock valued at $5,539,000 after purchasing an additional 46,420 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in Goosehead Insurance by 12.5% in the fourth quarter. Atomi Financial Group Inc. now owns 3,462 shares of the company’s stock worth $371,000 after purchasing an additional 385 shares during the period. Finally, Mechanics Bank Trust Department increased its stake in Goosehead Insurance by 4.5% during the 4th quarter. Mechanics Bank Trust Department now owns 2,552 shares of the company’s stock valued at $274,000 after buying an additional 109 shares during the period.

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.