Goosehead Insurance (NASDAQ:GSHD) Trading Down 4.6% – Time to Sell?

Goosehead Insurance, Inc (NASDAQ:GSHD) dropped 4.6% during mid-day trading on Thursday . The company traded as low as $98.35 and last traded at $98.48. Approximately 34,465 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 227,265 shares. The stock had previously closed at $103.25.

Analyst Ratings Changes

Several research analysts have recently commented on GSHD shares. JPMorgan Chase & Co. raised their price target on Goosehead Insurance from $77.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. JMP Securities boosted their price target on shares of Goosehead Insurance from $100.00 to $115.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. Piper Sandler raised their price objective on shares of Goosehead Insurance from $103.00 to $122.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Royal Bank of Canada upped their target price on shares of Goosehead Insurance from $95.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Truist Financial raised their price target on shares of Goosehead Insurance from $65.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, October 4th. One investment 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. According to data from MarketBeat, Goosehead Insurance currently has a consensus rating of “Hold” and a consensus target price of $99.20.

Goosehead Insurance Trading Down 1.0 %

The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.55 and a current ratio of 1.55. The company’s 50-day moving average price is $112.76 and its 200-day moving average price is $97.14. The firm has a market capitalization of $3.74 billion, a PE ratio of 140.10, a PEG ratio of 4.23 and a beta of 1.41.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%. The company had revenue of $78.04 million during the quarter, compared to the consensus estimate of $80.54 million. During the same period in the previous year, the business earned $0.28 EPS. Goosehead Insurance’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, sell-side analysts expect that Goosehead Insurance, Inc will post 0.84 earnings per share for the current year.

Goosehead Insurance Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 21st will be issued a $5.91 dividend. This is an increase from Goosehead Insurance’s previous dividend of $1.63. The ex-dividend date of this dividend is Tuesday, January 21st.

Insiders Place Their Bets

In other Goosehead Insurance news, CEO Mark Miller sold 58,327 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $110.22, for a total transaction of $6,428,801.94. Following the transaction, the chief executive officer now owns 30,000 shares of the company’s stock, valued at approximately $3,306,600. This trade represents a 66.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 48.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Mechanics Bank Trust Department boosted its holdings in shares of Goosehead Insurance by 4.5% in the fourth quarter. Mechanics Bank Trust Department now owns 2,552 shares of the company’s stock valued at $274,000 after acquiring an additional 109 shares during the period. GAMMA Investing LLC boosted its stake in Goosehead Insurance by 195.8% during the 3rd quarter. GAMMA Investing LLC now owns 349 shares of the company’s stock worth $31,000 after purchasing an additional 231 shares during the period. Precision Wealth Strategies LLC boosted its stake in Goosehead Insurance by 5.7% during the 4th quarter. Precision Wealth Strategies LLC now owns 4,726 shares of the company’s stock worth $507,000 after purchasing an additional 256 shares during the period. HighTower Advisors LLC grew its position in Goosehead Insurance by 5.8% during the 3rd quarter. HighTower Advisors LLC now owns 5,040 shares of the company’s stock worth $448,000 after purchasing an additional 276 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in Goosehead Insurance in the third quarter valued at $29,000.

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.