Kayne Anderson Rudnick Investment Management LLC Reduces Stake in Goosehead Insurance, Inc (NASDAQ:GSHD)

Kayne Anderson Rudnick Investment Management LLC cut its stake in Goosehead Insurance, Inc (NASDAQ:GSHD - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,799,352 shares of the company's stock after selling 403,532 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 7.54% of Goosehead Insurance worth $300,147,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GSHD. R Squared Ltd purchased a new position in Goosehead Insurance in the fourth quarter valued at $39,000. Kestra Investment Management LLC purchased a new position in shares of Goosehead Insurance in the 4th quarter valued at about $63,000. GAMMA Investing LLC increased its holdings in shares of Goosehead Insurance by 73.6% in the 4th quarter. GAMMA Investing LLC now owns 606 shares of the company's stock valued at $65,000 after acquiring an additional 257 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Goosehead Insurance by 462.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 619 shares of the company's stock worth $64,000 after acquiring an additional 509 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Goosehead Insurance during the third quarter worth approximately $63,000.

Goosehead Insurance Stock Performance

Shares of Goosehead Insurance stock traded up $3.75 during trading hours on Friday, hitting $96.94. 543,006 shares of the company were exchanged, compared to its average volume of 281,892. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 37.70. The business has a 50-day moving average of $113.80 and a 200-day moving average of $111.14. Goosehead Insurance, Inc has a 1 year low of $50.47 and a 1 year high of $130.39. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 134.45, a P/E/G ratio of 5.17 and a beta of 1.48.

Insider Transactions at Goosehead Insurance

In other news, major shareholder & Robyn Jones Descendants Mark sold 43,712 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $120.82, for a total value of $5,281,283.84. Following the completion of the sale, the insider now directly owns 132,349 shares of the company's stock, valued at $15,990,406.18. This trade represents a 24.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Mcconnon sold 205,000 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $121.35, for a total value of $24,876,750.00. Following the transaction, the director now directly owns 339,008 shares in the company, valued at $41,138,620.80. This represents a 37.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 308,812 shares of company stock worth $37,392,258. Company insiders own 48.35% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Goosehead Insurance from $125.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday. Bank of America lifted their price target on shares of Goosehead Insurance from $39.00 to $43.00 and gave the stock an "underperform" rating in a research note on Tuesday, February 25th. JMP Securities restated a "market outperform" rating and issued a $150.00 price objective on shares of Goosehead Insurance in a research note on Thursday. Truist Financial reaffirmed 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. Finally, JPMorgan Chase & Co. reduced their target price on Goosehead Insurance from $100.00 to $98.00 and set a "neutral" rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Goosehead Insurance has a consensus rating of "Hold" and a consensus target price of $113.70.

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.