Riverbridge Partners LLC Decreases Stock Holdings in Goosehead Insurance (NASDAQ:GSHD)

Riverbridge Partners LLC cut its holdings in Goosehead Insurance (NASDAQ:GSHD - Free Report) by 8.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 277,133 shares of the company's stock after selling 26,662 shares during the quarter. Riverbridge Partners LLC owned approximately 0.74% of Goosehead Insurance worth $32,718,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GSHD. New York State Teachers Retirement System raised its holdings in Goosehead Insurance by 1.5% in the fourth quarter. New York State Teachers Retirement System now owns 13,468 shares of the company's stock worth $1,444,000 after purchasing an additional 204 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Goosehead Insurance by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 118,854 shares of the company's stock worth $12,744,000 after purchasing an additional 4,333 shares in the last quarter. Kestra Investment Management LLC bought a new position in Goosehead Insurance in the fourth quarter worth about $63,000. Alberta Investment Management Corp raised its holdings in Goosehead Insurance by 232.8% in the fourth quarter. Alberta Investment Management Corp now owns 36,588 shares of the company's stock worth $3,923,000 after purchasing an additional 25,595 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in Goosehead Insurance by 2.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 8,942 shares of the company's stock worth $959,000 after purchasing an additional 210 shares in the last quarter.

Insider Buying and Selling

In other news, major shareholder & Robyn Jones Descendants Mark sold 30,081 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $101.95, for a total transaction of $3,066,757.95. Following the sale, the insider now owns 132,349 shares of the company's stock, valued at $13,492,980.55. This trade represents a 18.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel John Terry O'connor sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $104.42, for a total transaction of $261,050.00. Following the sale, the general counsel now directly owns 1,000 shares in the company, valued at $104,420. The trade was a 71.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,966 shares of company stock worth $12,407,821. 37.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

GSHD has been the subject of a number of recent research reports. Bank of America boosted their target price on shares of Goosehead Insurance from $39.00 to $43.00 and gave the stock an "underperform" rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on shares of Goosehead Insurance from $100.00 to $98.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Piper Sandler reduced their target price on shares of Goosehead Insurance from $132.00 to $122.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. UBS Group reduced their target price on shares of Goosehead Insurance from $145.00 to $140.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, Truist Financial restated a "hold" rating and set a $90.00 price objective (up previously from $80.00) on shares of Goosehead Insurance in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $115.40.

Goosehead Insurance Stock Performance

NASDAQ:GSHD traded up $2.73 during midday trading on Monday, hitting $101.76. The company's stock had a trading volume of 213,458 shares, compared to its average volume of 269,518. Goosehead Insurance has a fifty-two week low of $54.80 and a fifty-two week high of $130.39. The firm's 50 day moving average is $105.04 and its 200-day moving average is $109.31. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.79 and a quick ratio of 2.79. The firm has a market cap of $3.82 billion, a P/E ratio of 85.51, a P/E/G ratio of 6.97 and a beta of 1.46.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Goosehead Insurance had a net margin of 9.51% and a negative return on equity of 99.91%. The company had revenue of $75.58 million for the quarter, compared to the consensus estimate of $78.59 million. During the same quarter in the prior year, the company earned $0.28 EPS. Goosehead Insurance's quarterly revenue was up 17.2% on a year-over-year basis. Equities analysts anticipate that Goosehead Insurance will post 0.83 earnings per share for the current fiscal year.

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.