Bank of New York Mellon Corp Sells 5,612 Shares of Goosehead Insurance (NASDAQ:GSHD)

Bank of New York Mellon Corp lessened its holdings in shares of Goosehead Insurance (NASDAQ:GSHD) by 3.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 140,967 shares of the company’s stock after selling 5,612 shares during the period. Bank of New York Mellon Corp’s holdings in Goosehead Insurance were worth $16,643,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bessemer Group Inc. boosted its stake in Goosehead Insurance by 192.9% in the 1st quarter. Bessemer Group Inc. now owns 290 shares of the company’s stock worth $34,000 after purchasing an additional 191 shares in the last quarter. KBC Group NV lifted its holdings in shares of Goosehead Insurance by 20.7% during the 1st quarter. KBC Group NV now owns 1,101 shares of the company’s stock valued at $130,000 after buying an additional 189 shares during the period. New Age Alpha Advisors LLC purchased a new position in Goosehead Insurance in the fourth quarter worth about $148,000. Systematic Alpha Investments LLC bought a new stake in Goosehead Insurance during the fourth quarter valued at approximately $214,000. Finally, Cibc World Markets Corp bought a new position in Goosehead Insurance in the 4th quarter worth $225,000.

Goosehead Insurance Trading Down 0.1%

Shares of NASDAQ:GSHD opened at $102.09 on Friday. The business’s fifty day simple moving average is $104.78 and its 200-day simple moving average is $108.13. Goosehead Insurance has a 12-month low of $60.96 and a 12-month high of $130.39. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 2.10. The company has a market capitalization of $3.83 billion, a PE ratio of 85.79, a P/E/G ratio of 7.24 and a beta of 1.42.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $75.58 million during the quarter, compared to analyst estimates of $78.59 million. Goosehead Insurance had a negative return on equity of 99.91% and a net margin of 9.51%. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 EPS. As a group, equities research analysts predict that Goosehead Insurance will post 0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Lindy Langston sold 2,853 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $110.16, for a total value of $314,286.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel John Terry O’connor sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $104.42, for a total transaction of $261,050.00. Following the transaction, the general counsel directly owned 1,000 shares of the company’s stock, valued at $104,420. This represents a 71.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,966 shares of company stock valued at $12,407,821. Insiders own 48.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on GSHD shares. BMO Capital Markets dropped their target price on shares of Goosehead Insurance from $148.00 to $142.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Piper Sandler lowered their price target on shares of Goosehead Insurance from $132.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. UBS Group dropped their price objective on shares of Goosehead Insurance from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Keefe, Bruyette & Woods raised their price target on Goosehead Insurance from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Goosehead Insurance from $100.00 to $98.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $115.40.

Goosehead Insurance 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.