Goosehead Insurance (NASDAQ:GSHD) Share Price Down 10.2%

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Hen Head Insurance, Inc (NASDAQ: GSHDGet a rating) fell 10.2% during Friday’s midday session. The stock traded as low as $61.41 and last traded at $61.41. 4,551 shares changed hands during trading, down 99% from the average session volume of 339,245 shares. The stock previously closed at $68.37.

Analysts set new price targets

Several brokerages have recently published reports on GSHD. Truist Financial reduced its price target on Goosehead Insurance from $75.00 to $60.00 in a Wednesday, April 27 research report. William Blair downgraded Goosehead Insurance from an ‘outperforming’ rating to a ‘market performing’ rating in a Thursday, July 28 research report. JMP Securities cut its price target on Goosehead Insurance from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, June 24. Piper Sandler cut her price target on Goosehead Insurance from $75.00 to $57.00 and set an “overweight” rating for the company in a Tuesday, July 12 research report. Finally, Royal Bank of Canada reduced its target price on Goosehead Insurance from $140.00 to $120.00 in a Wednesday, April 27 research report. One equity research analyst rated the stock with a sell rating, two gave the company’s stock a hold rating and four gave the company’s stock a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $115.33.

Goosehead Insurance is trading down 9.9%

The company has a 50-day moving average price of $53.33 and a 200-day moving average price of $63.14. The company has a market capitalization of $2.29 billion, a price/earnings ratio of 559.78, a P/E/G ratio of 682.68 and a beta of 1.00.

Chicken head insurance (NASDAQ: GSHDGet a rating) last reported quarterly earnings data on Wednesday, July 27. The company reported EPS of $0.16 for the quarter, missing analyst consensus estimates of $0.17 per ($0.01). Goosehead Insurance posted a net margin of 1.36% and a negative return on equity of 3.53%. The company posted revenue of $53.00 million for the quarter, versus analyst estimates of $50.93 million. In the same quarter last year, the company posted EPS of $0.07. Goosehead Insurance revenue increased 38.7% year over year.

Insider activity

Separately, top shareholder Mark E. Jr. Jones sold 811 shares in a trade on Wednesday, July 20. The stock was sold at an average price of $55.03, for a total transaction of $44,629.33. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. In other Goosehead Insurance news, major shareholder Mark E. Jr. Jones sold 811 shares of the company in a trade on Wednesday, July 20. The shares were sold at an average price of $55.03, for a total transaction of $44,629.33. The sale was disclosed in a filing with the SEC, which is available via the SEC website. Additionally, major shareholder and Robyn Jones Descendants Mark sold 27,081 shares of the company in a trade on Friday, August 12. The shares were sold at an average price of $67.26, for a total transaction of $1,821,468.06. Following the sale, the insider now directly owns 132,349 shares of the company, valued at $8,901,793.74. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 266,998 shares of the company worth $15,682,722. Insiders hold 48.35% of the shares of the company.

Goosehead Insurance Institutional Trading

Several large investors have recently increased or reduced their stake in the company. We Are One Seven LLC increased its stake in Goosehead Insurance by 6.1% in the 4th quarter. We Are One Seven LLC now owns 1,768 shares of the company valued at $230,000 after purchasing an additional 102 shares during the period. Arizona State Retirement System increased its stake in Goosehead Insurance shares by 3.9% in the fourth quarter. Arizona State Retirement System now owns 5,219 shares of the company worth $679,000 after acquiring 194 additional shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Goosehead Insurance by 246.3% in the fourth quarter. First Horizon Advisors Inc. now owns 329 shares of the company worth $42,000 after acquiring 234 additional shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Goosehead Insurance by 42.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 798 shares of the company worth $104,000 after acquiring 238 additional shares in the last quarter. Finally, Logan Capital Management Inc. increased its stake in Goosehead Insurance shares by 2.4% in the first quarter. Logan Capital Management Inc. now owns 10,704 shares of the company worth $841,000 after acquiring 250 additional shares in the last quarter.

About Hen’s Head Insurance

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Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC which provides personal lines insurance agency services in the United States. The Company operates in two segments, Corporate Channel and Franchise Channel. It offers products and services in home insurance, auto insurance, home insurance, flood, wind, earthquake, excess or umbrella liability, motorcycle, recreational vehicle, general liability, property and life.

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