Kayne Anderson Rudnick Investment Management LLC Sells 323,518 Shares of Goosehead Insurance $GSHD

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in Goosehead Insurance by 11.6%, selling 323,518 shares and currently holding 2,475,834 shares valued at approximately $292.3 million.
• Insiders sold a total of 258,665 shares worth $23.1 million in the last ninety days, while corporate insiders now own 48.35% of the company's stock.
• Goosehead Insurance reported earnings of $0.49 EPS for the last quarter, missing estimates, with a revenue of $94.03 million, reflecting a 20.4% increase year-over-year.

Kayne Anderson Rudnick Investment Management LLC lowered its holdings in shares of Goosehead Insurance (NASDAQ:GSHD - Free Report) by 11.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,475,834 shares of the company's stock after selling 323,518 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 6.60% of Goosehead Insurance worth $292,297,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GSHD. LPL Financial LLC acquired a new stake in Goosehead Insurance during the fourth quarter worth approximately $251,000. Raymond James Financial Inc. acquired a new stake in Goosehead Insurance in the fourth quarter valued at approximately $491,000. First Trust Advisors LP acquired a new stake in Goosehead Insurance in the fourth quarter valued at approximately $5,264,000. MetLife Investment Management LLC grew its stake in Goosehead Insurance by 7.2% in the fourth quarter. MetLife Investment Management LLC now owns 13,584 shares of the company's stock valued at $1,456,000 after acquiring an additional 914 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in Goosehead Insurance by 91.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,228 shares of the company's stock valued at $239,000 after acquiring an additional 1,063 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GSHD shares. Cantor Fitzgerald raised Goosehead Insurance to a "strong-buy" rating in a research note on Wednesday, August 13th. Zacks Research raised Goosehead Insurance from a "strong sell" rating to a "hold" rating in a research note on Monday. Piper Sandler reissued a "neutral" rating and issued a $109.00 price objective (down previously from $122.00) on shares of Goosehead Insurance in a research note on Thursday, July 24th. BMO Capital Markets reduced their price objective on Goosehead Insurance from $142.00 to $110.00 and set a "market perform" rating for the company in a research note on Friday, July 25th. Finally, Keefe, Bruyette & Woods dropped their target price on Goosehead Insurance from $130.00 to $120.00 and set an "outperform" rating on the stock in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $110.91.

Goosehead Insurance Stock Performance

Goosehead Insurance stock traded down $1.13 during mid-day trading on Friday, reaching $85.32. 78,172 shares of the company's stock were exchanged, compared to its average volume of 298,084. The business's fifty day simple moving average is $93.96 and its 200 day simple moving average is $104.62. The firm has a market capitalization of $3.20 billion, a PE ratio of 75.45, a P/E/G ratio of 7.40 and a beta of 1.31. Goosehead Insurance has a one year low of $79.69 and a one year high of $130.39. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 2.10.

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

Insiders Place Their Bets

In related news, major shareholder & Robyn Jones Descendants Mark sold 600 shares of Goosehead Insurance stock in a transaction on Friday, August 15th. The stock was sold at an average price of $87.01, for a total transaction of $52,206.00. Following the sale, the insider directly owned 132,349 shares in the company, valued at approximately $11,515,686.49. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Adrienne Kebodeaux sold 3,000 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were 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. Insiders have sold 244,770 shares of company stock worth $21,568,721 over the last quarter. 48.35% of the stock is currently owned by corporate insiders.

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.