US Bancorp DE Lowers Stock Position in Goosehead Insurance (NASDAQ:GSHD)

Key Points

• US Bancorp DE reduced its stake in Goosehead Insurance by 30.5%, owning 11,915 shares worth approximately $1.4 million after selling 5,223 shares in the first quarter.
• Major shareholder Robyn Jones Descendants Mark sold 50,000 shares for about $5.19 million, representing a 27.42% decrease in their holdings, while CFO Mark E. Jr. Jones increased his ownership by 49.06%.
• Goosehead Insurance's most recent earnings report showed a miss on EPS at $0.49 compared to the expected $0.53, with a revenue of $94 million, reflecting a 20.4% year-over-year growth.

US Bancorp DE trimmed its position in shares of Goosehead Insurance (NASDAQ:GSHD - Free Report) by 30.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,915 shares of the company's stock after selling 5,223 shares during the period. US Bancorp DE's holdings in Goosehead Insurance were worth $1,407,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. TCTC Holdings LLC boosted its stake in shares of Goosehead Insurance by 117.1% during the 1st quarter. TCTC Holdings LLC now owns 330 shares of the company's stock valued at $39,000 after buying an additional 178 shares during the period. Bryce Point Capital LLC acquired a new stake in shares of Goosehead Insurance in the 1st quarter valued at $807,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Goosehead Insurance in the 1st quarter worth $2,641,000. Y Intercept Hong Kong Ltd bought a new position in Goosehead Insurance in the 1st quarter worth $349,000. Finally, Financial Harvest LLC bought a new position in Goosehead Insurance in the 1st quarter worth $324,000.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GSHD. JMP Securities reiterated a "market outperform" rating and issued a $150.00 target price on shares of Goosehead Insurance in a report on Thursday, April 24th. Cantor Fitzgerald assumed coverage on shares of Goosehead Insurance in a report on Tuesday. They set an "overweight" rating and a $125.00 price objective on the stock. UBS Group dropped their price objective on shares of Goosehead Insurance from $140.00 to $136.00 and set a "buy" rating on the stock in a report on Monday, July 28th. Piper Sandler restated a "neutral" rating and set a $109.00 price objective (down previously from $122.00) on shares of Goosehead Insurance in a report on Thursday, July 24th. Finally, BMO Capital Markets dropped their price objective on shares of Goosehead Insurance from $142.00 to $110.00 and set a "market perform" rating on the stock in a report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $110.91.

Goosehead Insurance Price Performance

Shares of NASDAQ:GSHD traded up $3.40 during trading on Wednesday, reaching $89.47. The stock had a trading volume of 468,135 shares, compared to its average volume of 296,269. Goosehead Insurance has a 52 week low of $79.33 and a 52 week high of $130.39. The business's 50-day moving average price is $98.39 and its 200 day moving average price is $106.31. The stock has a market capitalization of $3.36 billion, a PE ratio of 78.66, a P/E/G ratio of 7.60 and a beta of 1.31. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.92 and a quick ratio of 2.92.

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

Insider Activity

In other news, CFO Mark E. Jr. Jones bought 1,149 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was bought at an average cost of $86.08 per share, for a total transaction of $98,905.92. Following the transaction, the chief financial officer owned 3,491 shares of the company's stock, valued at $300,505.28. This represents a 49.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 45,998 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $86.44, for a total transaction of $3,976,067.12. Following the sale, the insider directly owned 132,349 shares in the company, valued at $11,440,247.56. The trade was a 25.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 126,459 shares of company stock valued at $11,533,528 in the last quarter. Company insiders own 37.76% of the company's stock.

Goosehead Insurance 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.