Ewing Morris & Co. Investment Partners Ltd. Sells 6,000 Shares of Goosehead Insurance $GSHD

Key Points

• Ewing Morris & Co. has reduced its stake in Goosehead Insurance (NASDAQ:GSHD) by 9.9%, bringing its ownership down to 54,396 shares worth approximately $6.42 million.
• Several hedge funds, including Bessemer Group Inc. and Larson Financial Group LLC, have increased their positions in Goosehead Insurance, reflecting a growing interest in the company.
• Analysts have revised target prices for Goosehead Insurance, with the consensus rating now at "Hold" and a target price of around $110.91.

Ewing Morris & Co. Investment Partners Ltd. reduced its position in shares of Goosehead Insurance (NASDAQ:GSHD - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,396 shares of the company's stock after selling 6,000 shares during the period. Goosehead Insurance comprises approximately 2.5% of Ewing Morris & Co. Investment Partners Ltd.'s holdings, making the stock its 14th largest holding. Ewing Morris & Co. Investment Partners Ltd. owned about 0.14% of Goosehead Insurance worth $6,422,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Janus Henderson Group PLC increased its position in shares of Goosehead Insurance by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 22,109 shares of the company's stock valued at $2,371,000 after purchasing an additional 139 shares during the period. TCTC Holdings LLC lifted its position in Goosehead Insurance by 117.1% during the 1st quarter. TCTC Holdings LLC now owns 330 shares of the company's stock worth $39,000 after acquiring an additional 178 shares during the last quarter. KBC Group NV boosted its position in shares of Goosehead Insurance by 20.7% in the first quarter. KBC Group NV now owns 1,101 shares of the company's stock valued at $130,000 after acquiring an additional 189 shares during the period. Bessemer Group Inc. increased its position in shares of Goosehead Insurance by 192.9% during the first quarter. Bessemer Group Inc. now owns 290 shares of the company's stock valued at $34,000 after purchasing an additional 191 shares during the period. Finally, HighTower Advisors LLC grew its position in Goosehead Insurance by 3.9% in the first quarter. HighTower Advisors LLC now owns 5,504 shares of the company's stock valued at $650,000 after acquiring an additional 205 shares during the period.

Insider Activity

In other news, major shareholder & Robyn Jones Descendants Mark sold 60,000 shares of Goosehead Insurance stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $88.23, for a total value of $5,293,800.00. Following the completion of the transaction, the insider directly owned 132,349 shares in the company, valued at approximately $11,677,152.27. The trade was a 31.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Adrienne Kebodeaux sold 3,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $86.30, for a total value of $258,900.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 244,770 shares of company stock worth $21,568,721. 37.76% of the stock is owned by corporate insiders.

Goosehead Insurance Stock Down 0.0%

Shares of NASDAQ GSHD traded down $0.04 during midday trading on Wednesday, hitting $82.89. 150,479 shares of the stock traded hands, compared to its average volume of 309,003. The company has a market cap of $3.11 billion, a PE ratio of 73.35, a P/E/G ratio of 7.25 and a beta of 1.34. The company has a debt-to-equity ratio of 2.10, a quick ratio of 2.92 and a current ratio of 2.92. Goosehead Insurance has a one year low of $79.69 and a one year high of $130.39. The business has a 50 day moving average price of $92.65 and a two-hundred day moving average price of $103.82.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). Goosehead Insurance had a net margin of 8.76% and a negative return on equity of 59.49%. The company had revenue of $94.03 million for the quarter, compared to analyst estimates of $94.18 million. During the same quarter last year, the firm posted $0.43 EPS. Goosehead Insurance's revenue for the quarter was up 20.4% on a year-over-year basis. Goosehead Insurance has set its FY 2025 guidance at EPS. On average, equities analysts predict that Goosehead Insurance will post 0.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group decreased their price objective on Goosehead Insurance from $140.00 to $136.00 and set a "buy" rating on the stock in a research report on Monday, July 28th. Piper Sandler cut their price objective on shares of Goosehead Insurance from $109.00 to $92.00 and set a "neutral" rating on the stock in a research report on Tuesday. Cantor Fitzgerald raised Goosehead Insurance to a "strong-buy" rating in a research report on Wednesday, August 13th. Keefe, Bruyette & Woods lowered their price target on Goosehead Insurance from $130.00 to $120.00 and set an "outperform" rating on the stock in a research report on Thursday, July 24th. Finally, BMO Capital Markets decreased their price target on shares of Goosehead Insurance from $142.00 to $110.00 and set a "market perform" rating on the stock in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $109.36.

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.