Goosehead Insurance (NASDAQ:GSHD) Downgraded by BidaskClub

BidaskClub lowered shares of Goosehead Insurance (NASDAQ:GSHD) from a buy rating to a hold rating in a research note issued to investors on Thursday, BidAskClub reports.

A number of other equities research analysts also recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Goosehead Insurance from $59.00 to $70.00 and gave the stock an outperform rating in a report on Friday, June 5th. Zacks Investment Research upgraded shares of Goosehead Insurance from a hold rating to a strong-buy rating and set a $119.00 price target for the company in a report on Tuesday, August 4th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Goosehead Insurance from $84.00 to $90.00 and gave the stock a market perform rating in a report on Friday, July 31st. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $93.00.

Shares of NASDAQ GSHD opened at $78.59 on Thursday. The company has a market cap of $3.32 billion, a PE ratio of 224.55 and a beta of 0.85. Goosehead Insurance has a 12 month low of $37.26 and a 12 month high of $115.11. The company has a 50-day simple moving average of $99.31 and a 200-day simple moving average of $70.10.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.16. The business had revenue of $29.92 million during the quarter, compared to the consensus estimate of $23.70 million. Goosehead Insurance had a net margin of 6.39% and a negative return on equity of 22.88%. As a group, analysts expect that Goosehead Insurance will post 0.46 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were given a $1.1495 dividend. The ex-dividend date was Friday, August 7th. This represents a $4.60 annualized dividend and a dividend yield of 5.85%.

In other Goosehead Insurance news, CEO Mark Evan Jones sold 2,936 shares of Goosehead Insurance stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $81.35, for a total transaction of $238,843.60. Following the transaction, the chief executive officer now directly owns 287,927 shares of the company’s stock, valued at $23,422,861.45. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Desiree Coleman sold 4,403 shares of Goosehead Insurance stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $75.23, for a total transaction of $331,237.69. Following the transaction, the insider now directly owns 484,154 shares in the company, valued at $36,422,905.42. The disclosure for this sale can be found here. Insiders sold 470,125 shares of company stock worth $44,062,965 over the last three months. Corporate insiders own 63.43% of the company’s stock.

A number of hedge funds have recently made changes to their positions in GSHD. Alliancebernstein L.P. lifted its position in Goosehead Insurance by 7,977.8% during the first quarter. Alliancebernstein L.P. now owns 678,534 shares of the company’s stock valued at $30,283,000 after buying an additional 670,134 shares in the last quarter. Vanguard Group Inc. lifted its position in Goosehead Insurance by 49.5% during the second quarter. Vanguard Group Inc. now owns 985,219 shares of the company’s stock valued at $74,049,000 after buying an additional 326,183 shares in the last quarter. Granite Investment Partners LLC acquired a new position in Goosehead Insurance during the second quarter valued at approximately $17,493,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in Goosehead Insurance by 10.2% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,054,042 shares of the company’s stock valued at $154,382,000 after buying an additional 190,855 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Goosehead Insurance by 83.2% during the second quarter. Goldman Sachs Group Inc. now owns 316,697 shares of the company’s stock valued at $23,804,000 after buying an additional 143,823 shares in the last quarter. 44.91% of the stock is currently owned by hedge funds and other institutional investors.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc focuses on operating as a holding company for Goosehead Financial, LLC that provides personal lines insurance agency services in the United States. The company operates through two segments, Corporate Channel and Franchise Channel. It offers various insurance products, including homeowner's insurance; auto insurance; other personal lines products, such as flood, wind, and earthquake insurance; excess liability or umbrella insurance; specialty lines insurance comprising motorcycle, recreational vehicle, and other insurance; commercial lines insurance consisting of general liability, property, and auto insurance for small businesses; and life insurance.

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