Goosehead Insurance (NASDAQ:GSHD) Shares Gap Down - Here's Why

Goosehead Insurance, Inc (NASDAQ:GSHD - Get Free Report) gapped down prior to trading 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GSHD shares. BMO Capital Markets upped their price target on shares of Goosehead Insurance from $90.00 to $120.00 and gave the company a "market perform" rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. upped their price objective on shares of Goosehead Insurance from $77.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, January 3rd. JMP Securities upped their price objective on shares of Goosehead Insurance from $100.00 to $115.00 and gave the company a "market outperform" rating in a research note on Thursday, October 24th. Royal Bank of Canada upped their price objective on shares of Goosehead Insurance from $95.00 to $109.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Finally, Truist Financial upped their price objective on shares of Goosehead Insurance from $65.00 to $80.00 and gave the company a "hold" rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $99.20.

Goosehead Insurance Stock Down 3.7 %

The business's 50-day moving average price is $113.83 and its 200-day moving average price is $96.75. 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 firm has a market capitalization of $3.95 billion, a PE ratio of 147.67, a price-to-earnings-growth ratio of 4.52 and a beta of 1.41.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.05. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%. The firm had revenue of $78.04 million for the quarter, compared to the consensus estimate of $80.54 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The firm's revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts predict that Goosehead Insurance, Inc will post 0.84 EPS for the current fiscal year.

Goosehead Insurance Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 21st will be issued a $5.91 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This is an increase from Goosehead Insurance's previous dividend of $1.63.

Insider Buying and Selling

In other Goosehead Insurance news, CEO Mark Miller sold 58,327 shares of Goosehead Insurance stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $110.22, for a total transaction of $6,428,801.94. Following the completion of the transaction, the chief executive officer now directly owns 30,000 shares of the company's stock, valued at approximately $3,306,600. This trade represents a 66.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Adrienne Kebodeaux sold 43,928 shares of Goosehead Insurance stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $100.21, for a total value of $4,402,024.88. The disclosure for this sale can be found here. 38.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Goosehead Insurance

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mechanics Bank Trust Department increased 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 buying an additional 109 shares in the last quarter. GAMMA Investing LLC increased its position in Goosehead Insurance by 195.8% in the third quarter. GAMMA Investing LLC now owns 349 shares of the company's stock worth $31,000 after purchasing an additional 231 shares during the period. HighTower Advisors LLC increased its position 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 period. Whittier Trust Co. of Nevada Inc. acquired a new stake in Goosehead Insurance in the third quarter worth about $29,000. Finally, Atomi Financial Group Inc. increased its position in Goosehead Insurance by 12.5% in the fourth quarter. Atomi Financial Group Inc. now owns 3,462 shares of the company's stock worth $371,000 after purchasing an additional 385 shares during the period.

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.