Baird Financial Group Inc. Reduces Stock Position in Goosehead Insurance, Inc (NASDAQ:GSHD)

Baird Financial Group Inc. lessened its stake in shares of Goosehead Insurance, Inc (NASDAQ:GSHD) by 64.5% in the fourth quarter, HoldingsChannel reports. The firm owned 5,542 shares of the company’s stock after selling 10,091 shares during the quarter. Baird Financial Group Inc.’s holdings in Goosehead Insurance were worth $594,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GSHD. Mechanics Bank Trust Department boosted its stake in Goosehead Insurance by 4.5% in the 4th quarter. Mechanics Bank Trust Department now owns 2,552 shares of the company’s stock worth $274,000 after buying an additional 109 shares during the last quarter. Atomi Financial Group Inc. boosted its stake in Goosehead Insurance by 12.5% in the 4th quarter. Atomi Financial Group Inc. now owns 3,462 shares of the company’s stock worth $371,000 after buying an additional 385 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Goosehead Insurance by 885.5% in the 4th quarter. SG Americas Securities LLC now owns 51,662 shares of the company’s stock valued at $5,539,000 after purchasing an additional 46,420 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Goosehead Insurance by 10.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 6,880 shares of the company’s stock valued at $738,000 after purchasing an additional 679 shares in the last quarter. Finally, Cottonwood Capital Advisors LLC acquired a new position in shares of Goosehead Insurance in the 4th quarter valued at about $249,000.

Goosehead Insurance Trading Up 2.7%

Shares of NASDAQ GSHD opened at $108.90 on Friday. Goosehead Insurance, Inc has a 12 month low of $54.80 and a 12 month high of $130.39. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 151.25, a P/E/G ratio of 5.17 and a beta of 1.45. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 37.70. The business has a fifty day simple moving average of $108.98 and a 200-day simple moving average of $111.59.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $75.58 million for the quarter, compared to analyst estimates of $78.59 million. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%. Goosehead Insurance’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. Sell-side analysts predict that Goosehead Insurance, Inc will post 0.83 EPS for the current year.

Analyst Ratings Changes

GSHD has been the topic of several research analyst reports. Truist Financial reaffirmed a “hold” rating and issued a $90.00 price objective (up from $80.00) on shares of Goosehead Insurance in a research note on Tuesday, February 25th. BMO Capital Markets reduced their price objective on Goosehead Insurance from $148.00 to $142.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th. Piper Sandler reduced their price objective on Goosehead Insurance from $132.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on Goosehead Insurance from $100.00 to $98.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods lifted their price objective on Goosehead Insurance from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $115.40.

Insider Transactions at Goosehead Insurance

In other Goosehead Insurance news, major shareholder & Robyn Jones Descendants Mark sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $103.74, for a total value of $5,187,000.00. Following the sale, the insider now owns 132,349 shares of the company’s stock, valued at $13,729,885.26. This trade represents a 27.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas Mcconnon sold 205,000 shares of Goosehead Insurance stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $121.35, for a total value of $24,876,750.00. Following the sale, the director now directly owns 339,008 shares in the company, valued at $41,138,620.80. The trade was a 37.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 412,778 shares of company stock valued at $48,147,358 in the last three months. Corporate insiders own 37.76% of the company’s stock.

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.