Insider Selling: Goosehead Insurance (NASDAQ:GSHD) Director Sells 69,686 Shares of Stock

Goosehead Insurance (NASDAQ:GSHD) Director Thomas Mcconnon sold 69,686 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $73.62, for a total value of $5,130,283.32. Following the completion of the transaction, the director owned 269,322 shares in the company, valued at approximately $19,827,485.64. This trade represents a 20.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Goosehead Insurance Stock Performance

Shares of GSHD traded down $0.06 during trading hours on Wednesday, hitting $75.91. 345,209 shares of the stock were exchanged, compared to its average volume of 311,254. The stock’s 50-day moving average price is $70.21 and its two-hundred day moving average price is $86.29. Goosehead Insurance has a 12-month low of $64.40 and a 12-month high of $127.99. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 67.18, a price-to-earnings-growth ratio of 12.33 and a beta of 1.52.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). Goosehead Insurance had a net margin of 8.55% and a negative return on equity of 34.60%. The firm had revenue of $90.44 million during the quarter, compared to analysts’ expectations of $94.25 million. During the same quarter in the previous year, the business posted $0.50 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts expect that Goosehead Insurance will post 0.83 earnings per share for the current year.

Hedge Funds Weigh In On Goosehead Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new position in Goosehead Insurance in the 1st quarter valued at about $225,000. Simplex Trading LLC acquired a new position in shares of Goosehead Insurance in the first quarter valued at approximately $88,000. Invesco Ltd. grew its holdings in shares of Goosehead Insurance by 56.8% in the first quarter. Invesco Ltd. now owns 102,402 shares of the company’s stock valued at $12,090,000 after purchasing an additional 37,098 shares in the last quarter. Entropy Technologies LP increased its stake in Goosehead Insurance by 13.0% during the 1st quarter. Entropy Technologies LP now owns 2,606 shares of the company’s stock worth $308,000 after buying an additional 300 shares during the period. Finally, Nuveen LLC acquired a new stake in Goosehead Insurance during the 1st quarter worth approximately $8,025,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GSHD shares. Zacks Research upgraded Goosehead Insurance from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. JMP Securities reduced their price objective on Goosehead Insurance from $150.00 to $140.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 14th. Piper Sandler dropped their target price on Goosehead Insurance from $79.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Truist Financial reduced their price target on Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, October 23rd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Goosehead Insurance in a research report on Thursday, October 23rd. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $92.20.

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.