Townsquare Capital LLC Sells 3,012 Shares of Goosehead Insurance (NASDAQ:GSHD)

Key Points

• Townsquare Capital LLC reduced its holdings in Goosehead Insurance by 5.7%, selling 3,012 shares to own 49,617 shares worth approximately $5.86 million at the end of the last quarter.
• Goosehead Insurance reported a quarterly earnings per share (EPS) of $0.49, missing estimates by $0.04, with revenue increasing by 20.4% year-over-year despite a negative return on equity of 59.49%.
• Analysts have set varied price targets for Goosehead Insurance, with a consensus target of $109.50 and a majority rating it as a "Hold."

Townsquare Capital LLC lessened its position in Goosehead Insurance (NASDAQ:GSHD - Free Report) by 5.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,617 shares of the company's stock after selling 3,012 shares during the period. Townsquare Capital LLC owned about 0.13% of Goosehead Insurance worth $5,858,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GSHD. Principal Financial Group Inc. raised its position in shares of Goosehead Insurance by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 121,654 shares of the company's stock valued at $14,362,000 after buying an additional 2,800 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Goosehead Insurance during the 1st quarter worth approximately $208,000. Bessemer Group Inc. grew its holdings in Goosehead Insurance by 192.9% during the 1st quarter. Bessemer Group Inc. now owns 290 shares of the company's stock worth $34,000 after acquiring an additional 191 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Goosehead Insurance during the 1st quarter worth approximately $349,000. Finally, GAMMA Investing LLC boosted its stake in shares of Goosehead Insurance by 11,900.8% in the 1st quarter. GAMMA Investing LLC now owns 72,725 shares of the company's stock valued at $8,586,000 after purchasing an additional 72,119 shares during the last quarter.

Goosehead Insurance Stock Performance

Shares of GSHD stock opened at $86.05 on Friday. Goosehead Insurance has a 12 month low of $79.33 and a 12 month high of $130.39. The stock has a market cap of $3.23 billion, a PE ratio of 76.15, a price-to-earnings-growth ratio of 7.55 and a beta of 1.31. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 2.10. The company's fifty day moving average price is $99.38 and its 200-day moving average price is $106.52.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last announced 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). The firm had revenue of $94.03 million during 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 for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 EPS. On average, equities analysts expect that Goosehead Insurance will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling at Goosehead Insurance

In related news, major shareholder & Robyn Jones Descendants Mark sold 6,175 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $87.14, for a total value of $538,089.50. Following the completion of the sale, the insider directly owned 132,349 shares of the company's stock, valued at approximately $11,532,891.86. This represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel John Terry O'connor sold 2,500 shares of the company'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 value of $261,050.00. Following the completion of the transaction, the general counsel owned 1,000 shares of the company's stock, valued at $104,420. The trade was a 71.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 139,629 shares of company stock worth $13,962,776 over the last 90 days. 48.35% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GSHD. Keefe, Bruyette & Woods dropped their target price on shares of Goosehead Insurance from $130.00 to $120.00 and set an "outperform" rating on the stock in a research report on Thursday, July 24th. JMP Securities restated a "market outperform" rating and set a $150.00 price target on shares of Goosehead Insurance in a research report on Thursday, April 24th. JPMorgan Chase & Co. reduced their price target on shares of Goosehead Insurance from $100.00 to $98.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. UBS Group cut their target price on shares of Goosehead Insurance from $140.00 to $136.00 and set a "buy" rating for the company in a research report on Monday, July 28th. Finally, Piper Sandler restated a "neutral" rating and issued a $109.00 price objective (down from $122.00) on shares of Goosehead Insurance in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $109.50.

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.

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