Goosehead Insurance (NASDAQ:GSHD) Major Shareholder & The Bear Irrevocable Chick Sells 5,000 Shares of Stock

Key Points

• Major shareholder The Bear Irrevocable Chick sold 5,000 Goosehead Insurance shares at an average price of $65.03, generating $325,150. After the sale, the shareholder retained 58,530 shares, a 7.87% reduction in ownership.
• Goosehead’s latest quarterly results exceeded expectations on earnings, reporting $0.64 EPS versus a $0.47 consensus estimate, while revenue rose 20.6% year over year to $95.63 million but fell short of estimates.
• GSHD shares traded at $63.86, with analysts holding a consensus “Hold” rating and an average price target of $68.45; targets range from $37 to $76.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) major shareholder & The Bear Irrevocable Chick sold 5,000 shares of the business's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $65.03, for a total transaction of $325,150.00. Following the transaction, the insider directly owned 58,530 shares in the company, valued at approximately $3,806,205.90. The trade was a 7.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Goosehead Insurance Stock Performance

Shares of GSHD stock traded down $6.86 on Thursday, hitting $63.86. The stock had a trading volume of 806,747 shares, compared to its average volume of 513,352. The stock's 50 day moving average is $46.04 and its 200-day moving average is $48.80. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 46.61, a P/E/G ratio of 2.48 and a beta of 1.41. Goosehead Insurance has a 52-week low of $33.68 and a 52-week high of $93.90.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.17. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The firm had revenue of $95.63 million for the quarter, compared to the consensus estimate of $103.30 million. During the same quarter in the previous year, the firm posted $0.49 EPS. The firm's quarterly revenue was up 20.6% on a year-over-year basis. Equities analysts expect that Goosehead Insurance will post 1.45 earnings per share for the current year.

Institutional Investors Weigh In On Goosehead Insurance

A number of institutional investors have recently modified their holdings of GSHD. Meixler Investment Management Ltd. lifted its position in shares of Goosehead Insurance by 5.3% during the fourth quarter. Meixler Investment Management Ltd. now owns 4,355 shares of the company's stock worth $321,000 after purchasing an additional 220 shares during the last quarter. Gibbs Wealth Management grew its stake in Goosehead Insurance by 3.8% in the fourth quarter. Gibbs Wealth Management now owns 6,133 shares of the company's stock worth $459,000 after purchasing an additional 227 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Goosehead Insurance by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 12,022 shares of the company's stock valued at $1,268,000 after buying an additional 259 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Goosehead Insurance by 480.4% in the second quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company's stock valued at $34,000 after buying an additional 269 shares during the last quarter. Finally, Blair William & Co. IL raised its stake in Goosehead Insurance by 5.0% during the fourth quarter. Blair William & Co. IL now owns 6,831 shares of the company's stock valued at $503,000 after buying an additional 323 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently commented on GSHD shares. Bank of America cut their price target on Goosehead Insurance from $43.00 to $37.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 14th. JPMorgan Chase & Co. lifted their price objective on Goosehead Insurance from $55.00 to $60.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Keefe, Bruyette & Woods dropped their price objective on Goosehead Insurance from $80.00 to $72.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $76.00 target price on shares of Goosehead Insurance in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada increased their target price on Goosehead Insurance from $55.00 to $58.00 and gave the company a "sector perform" rating in a research note on Thursday, July 23rd. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $68.45.

About Goosehead Insurance

Goosehead Insurance NASDAQ: GSHD is a technology-driven insurance agency that connects consumers with a broad range of personal and commercial insurance products through an extensive network of independent insurance advisors. The company specializes in homeowners, auto, flood, dwelling fire, umbrella, life, and commercial lines coverage, working with multiple national and regional carriers to offer tailored policies. By combining advanced quoting tools with local market expertise, Goosehead streamlines the insurance shopping process and helps clients find competitive coverage options.

Founded in 2003 and headquartered in Westlake, Texas, Goosehead has grown its footprint across more than 40 states in the U.S.

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