Goosehead Insurance (NASDAQ:GSHD) Stock Price Down 5.1% - What's Next?

Key Points

• Goosehead Insurance shares fell 5.1% to about $53.60, with trading volume roughly 45% below the average session volume.
• Analyst sentiment is mixed: seven analysts rate the stock a Buy, six Hold, and one Sell, producing an overall “Hold” consensus and an average price target of $68.45.
• The company beat quarterly EPS estimates ($0.64 versus $0.47) while revenue rose 20.6% year over year, although revenue fell short of expectations; insiders have also sold more shares than they purchased over the past three months.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) dropped 5.1% on Thursday . The company traded as low as $53.29 and last traded at $53.6010. Approximately 264,762 shares were traded during trading, a decline of 45% from the average session volume of 479,335 shares. The stock had previously closed at $56.47.

Wall Street Analyst Weigh In

A number of analysts recently commented on GSHD shares. Royal Bank Of Canada upped their price objective on shares of Goosehead Insurance from $55.00 to $58.00 and gave the company a "sector perform" rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. increased their price target on Goosehead Insurance from $55.00 to $60.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $76.00 price target on shares of Goosehead Insurance in a research report on Thursday, July 23rd. UBS Group lifted their price objective on Goosehead Insurance from $70.00 to $72.00 and gave the company a "buy" rating in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods decreased their price objective on Goosehead Insurance from $80.00 to $72.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $68.45.

Goosehead Insurance Price Performance

The firm's 50 day moving average is $62.96 and its two-hundred day moving average is $50.11. The firm has a market capitalization of $1.90 billion, a P/E ratio of 39.21, a PEG ratio of 2.11 and a beta of 1.36.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, beating 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 business had revenue of $95.63 million during the quarter, compared to the consensus estimate of $103.30 million. During the same period last year, the business posted $0.49 EPS. Goosehead Insurance's revenue was up 20.6% on a year-over-year basis. Analysts anticipate that Goosehead Insurance will post 1.46 EPS for the current fiscal year.

Insider Buying and Selling at Goosehead Insurance

In related news, major shareholder & Robyn Jones Descendants Mark sold 22,481 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $66.87, for a total transaction of $1,503,304.47. Following the sale, the insider owned 6,767,661 shares of the company's stock, valued at $452,553,491.07. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Adrienne Kebodeaux sold 7,000 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $70.00, for a total value of $490,000.00. Following the sale, the insider directly owned 273,027 shares in the company, valued at approximately $19,111,890. This trade represents a 2.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have purchased 189,979 shares of company stock valued at $11,348,632 and have sold 267,000 shares valued at $18,056,139. Corporate insiders own 38.07% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new position in shares of Goosehead Insurance during the second quarter worth $48,000. Baird Financial Group Inc. increased its position in shares of Goosehead Insurance by 15.6% during the second quarter. Baird Financial Group Inc. now owns 7,541 shares of the company's stock worth $366,000 after buying an additional 1,016 shares during the period. Nykredit A S bought a new position in shares of Goosehead Insurance in the 2nd quarter worth about $50,000. Corient Private Wealth LP lifted its stake in Goosehead Insurance by 123.7% in the second quarter. Corient Private Wealth LP now owns 56,935 shares of the company's stock valued at $2,761,000 after buying an additional 31,483 shares during the period. Finally, Compass Financial Management LLC bought a new stake in shares of Goosehead Insurance in the 2nd quarter valued at $192,000.

About Goosehead Insurance

Goosehead Insurance, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchised locations. The company represents multiple insurance carriers, allowing its agents to compare coverage options and help customers select policies based on their individual needs.

Its product offerings include homeowners, auto, renters, flood, personal umbrella and other personal-lines insurance, along with selected commercial insurance products.

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