Goosehead Insurance (NASDAQ:GSHD) Stock Price Down 5.8% After Analyst Downgrade

Goosehead Insurance, Inc (NASDAQ:GSHD - Get Free Report) shares fell 5.8% during trading on Monday after BMO Capital Markets lowered their price target on the stock from $148.00 to $142.00. BMO Capital Markets currently has a market perform rating on the stock. Goosehead Insurance traded as low as $95.01 and last traded at $93.74. 25,517 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 280,780 shares. The stock had previously closed at $99.54.

GSHD has been the subject of a number of other reports. 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 report on Thursday. Bank of America upped 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. Keefe, Bruyette & Woods upped their price target on shares of Goosehead Insurance from $125.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday. Truist Financial reaffirmed a "hold" rating and issued a $90.00 price objective (up from $80.00) on shares of Goosehead Insurance in a research note on Tuesday, February 25th. Finally, UBS Group lifted their price target on shares of Goosehead Insurance from $120.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $115.90.

Insider Activity at Goosehead Insurance

In related news, Chairman Mark Evan Jones sold 40,000 shares of the business's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $119.04, for a total transaction of $4,761,600.00. Following the sale, the chairman now owns 38,951 shares of the company's stock, valued at $4,636,727.04. The trade was a 50.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder & Robyn Jones Descendants Mark sold 500 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $120.12, for a total transaction of $60,060.00. Following the completion of the transaction, the insider now owns 132,349 shares in the company, valued at approximately $15,897,761.88. This represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 308,812 shares of company stock worth $37,392,258. Company insiders own 48.35% of the company's stock.

Institutional Trading of Goosehead Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GSHD. KBC Group NV lifted its position in shares of Goosehead Insurance by 20.7% in the first quarter. KBC Group NV now owns 1,101 shares of the company's stock valued at $130,000 after acquiring an additional 189 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Goosehead Insurance by 192.9% during the first quarter. Bessemer Group Inc. now owns 290 shares of the company's stock valued at $34,000 after buying an additional 191 shares during the last quarter. Chicago Capital LLC boosted its holdings in shares of Goosehead Insurance by 73.0% in the first quarter. Chicago Capital LLC now owns 5,177 shares of the company's stock valued at $611,000 after purchasing an additional 2,184 shares during the period. Precision Wealth Strategies LLC boosted its holdings in shares of Goosehead Insurance by 17.0% in the first quarter. Precision Wealth Strategies LLC now owns 5,531 shares of the company's stock valued at $653,000 after purchasing an additional 805 shares during the period. Finally, PFS Partners LLC boosted its holdings in shares of Goosehead Insurance by 5.4% in the first quarter. PFS Partners LLC now owns 24,536 shares of the company's stock valued at $2,897,000 after purchasing an additional 1,268 shares during the period.

Goosehead Insurance Stock Performance

The business has a fifty day simple moving average of $113.44 and a two-hundred day simple moving average of $111.50. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market cap of $3.43 billion, a PE ratio of 127.75, a price-to-earnings-growth ratio of 5.17 and a beta of 1.48.

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 analysts' consensus estimates of $0.24 by $0.02. The business had revenue of $75.58 million for the quarter, compared to analyst estimates of $78.59 million. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%. The company's revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Research analysts anticipate that Goosehead Insurance, Inc will post 0.83 earnings per share for the current year.

About Goosehead Insurance

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.