Envestnet Asset Management Inc. decreased its position in shares of Goosehead Insurance Inc (NASDAQ:GSHD) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,075 shares of the company’s stock after selling 1,280 shares during the quarter. Envestnet Asset Management Inc. owned about 0.16% of Goosehead Insurance worth $1,151,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in GSHD. FNY Investment Advisers LLC bought a new stake in shares of Goosehead Insurance in the 2nd quarter valued at $57,000. BNP Paribas Arbitrage SA grew its position in Goosehead Insurance by 487.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,031 shares of the company’s stock valued at $57,000 after purchasing an additional 1,685 shares during the period. SG Americas Securities LLC acquired a new stake in Goosehead Insurance in the 1st quarter valued at $102,000. CIBC Private Wealth Group LLC acquired a new stake in Goosehead Insurance in the 2nd quarter valued at $216,000. Finally, Toth Financial Advisory Corp acquired a new stake in Goosehead Insurance in the 2nd quarter valued at $425,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.
In other news, major shareholder Lanni Romney sold 13,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $46.26, for a total transaction of $601,380.00. Following the sale, the insider now directly owns 407,557 shares in the company, valued at $18,853,586.82. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mark S. Colby sold 1,032 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $45.01, for a total value of $46,450.32. The disclosure for this sale can be found here. Insiders sold a total of 413,861 shares of company stock worth $18,450,765 over the last 90 days. 67.50% of the stock is currently owned by company insiders.
Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Goosehead Insurance from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Wednesday, August 7th. Bank of America reaffirmed a “buy” rating and set a $55.00 price objective (up from $37.00) on shares of Goosehead Insurance in a report on Tuesday, July 2nd. Finally, ValuEngine downgraded shares of Goosehead Insurance from a “buy” rating to a “hold” rating in a report on Thursday, August 1st.
Shares of NASDAQ:GSHD traded down $0.16 during midday trading on Friday, reaching $46.42. The company had a trading volume of 10,550 shares, compared to its average volume of 99,303. The company’s 50 day moving average price is $45.25 and its 200 day moving average price is $37.76. The stock has a market cap of $708.67 million, a P/E ratio of 232.10, a P/E/G ratio of 2.55 and a beta of 0.35. Goosehead Insurance Inc has a 52-week low of $20.49 and a 52-week high of $51.47.
Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.01). The company had revenue of $19.40 million during the quarter, compared to analysts’ expectations of $19.83 million. Goosehead Insurance had a negative return on equity of 14.52% and a net margin of 5.06%. Goosehead Insurance’s quarterly revenue was up 31.1% on a year-over-year basis. On average, equities research analysts forecast that Goosehead Insurance Inc will post 0.34 earnings per share for the current fiscal year.
About Goosehead Insurance
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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