Goosehead Insurance (NASDAQ:GSHD) Shares Gap Down – Here’s What Happened

Goosehead Insurance, Inc (NASDAQ:GSHD) gapped down before the market opened on Tuesday . The stock had previously closed at $110.35, but opened at $105.56. Goosehead Insurance shares last traded at $103.90, with a volume of 36,766 shares changing hands.

Analysts Set New Price Targets

Several research analysts have weighed in on GSHD shares. BMO Capital Markets increased their price target on shares of Goosehead Insurance from $90.00 to $120.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 19th. JMP Securities lifted their target price on Goosehead Insurance from $100.00 to $115.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada upped their price target on Goosehead Insurance from $95.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Cowen lifted their price objective on Goosehead Insurance from $94.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, November 20th. Finally, Truist Financial raised their target price on shares of Goosehead Insurance from $65.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $99.20.

Goosehead Insurance Stock Performance

The firm’s 50-day moving average price is $113.47 and its 200-day moving average price is $96.79. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market cap of $3.78 billion, a P/E ratio of 141.46, a PEG ratio of 4.36 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, beating analysts’ consensus estimates of $0.45 by $0.05. Goosehead Insurance had a net margin of 6.77% and a return on equity of 284.41%. The company had revenue of $78.04 million for the quarter, compared to the consensus estimate of $80.54 million. During the same period in the previous year, the firm posted $0.28 EPS. Goosehead Insurance’s revenue for the quarter was up 9.9% compared to the same quarter last year. Sell-side analysts expect that Goosehead Insurance, Inc will post 0.84 earnings per share for the current fiscal year.

Goosehead Insurance Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 21st will be given 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.

Insider Activity at Goosehead Insurance

In other news, CEO Mark Miller sold 58,327 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $110.22, for a total value of $6,428,801.94. Following the sale, the chief executive officer now directly owns 30,000 shares in the company, valued at $3,306,600. The trade was a 66.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 48.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mechanics Bank Trust Department raised its stake 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 grew its holdings in Goosehead Insurance by 195.8% during the 3rd quarter. GAMMA Investing LLC now owns 349 shares of the company’s stock valued at $31,000 after purchasing an additional 231 shares during the last quarter. HighTower Advisors LLC lifted its stake in Goosehead Insurance by 5.8% in the third 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. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Goosehead Insurance during the third quarter valued at approximately $29,000. Finally, R Squared Ltd bought a new position in shares of Goosehead Insurance during the fourth quarter valued at approximately $39,000.

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.