Bank of New York Mellon Corp Sells 5,612 Shares of Goosehead Insurance (NASDAQ:GSHD)

Bank of New York Mellon Corp trimmed its stake in Goosehead Insurance (NASDAQ:GSHD) by 3.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 140,967 shares of the company’s stock after selling 5,612 shares during the period. Bank of New York Mellon Corp owned about 0.38% of Goosehead Insurance worth $16,643,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. boosted its holdings in Goosehead Insurance by 192.9% in the first quarter. Bessemer Group Inc. now owns 290 shares of the company’s stock valued at $34,000 after acquiring an additional 191 shares during the last quarter. KBC Group NV raised its position in shares of Goosehead Insurance by 20.7% during the first quarter. KBC Group NV now owns 1,101 shares of the company’s stock worth $130,000 after purchasing an additional 189 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Goosehead Insurance during the fourth quarter worth about $148,000. Systematic Alpha Investments LLC bought a new position in shares of Goosehead Insurance during the fourth quarter worth about $214,000. Finally, Cibc World Markets Corp bought a new position in shares of Goosehead Insurance during the fourth quarter worth about $225,000.

Goosehead Insurance Trading Down 0.1%

NASDAQ GSHD opened at $102.09 on Friday. The business’s 50-day moving average price is $104.78 and its two-hundred day moving average price is $108.13. Goosehead Insurance has a 12 month low of $60.96 and a 12 month high of $130.39. The firm has a market capitalization of $3.83 billion, a PE ratio of 85.79, a price-to-earnings-growth ratio of 7.24 and a beta of 1.42. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 2.10.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates 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 negative return on equity of 99.91% and a net margin of 9.51%. The business’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 EPS. On average, analysts expect that Goosehead Insurance will post 0.83 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. UBS Group decreased their price target on Goosehead Insurance from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Keefe, Bruyette & Woods lifted their price target on Goosehead Insurance from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price objective on Goosehead Insurance from $100.00 to $98.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. BMO Capital Markets dropped their price objective on Goosehead Insurance from $148.00 to $142.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Finally, Piper Sandler lowered their price target on Goosehead Insurance from $132.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. One 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. Based on data from MarketBeat.com, Goosehead Insurance currently has an average rating of “Hold” and a consensus target price of $115.40.

Insider Buying and Selling

In related news, General Counsel John Terry O’connor sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $104.42, for a total transaction of $261,050.00. Following the transaction, the general counsel directly owned 1,000 shares of the company’s stock, valued at approximately $104,420. This represents a 71.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 50,000 shares of the 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 completion of the sale, the insider directly owned 132,349 shares of the company’s stock, valued at approximately $13,729,885.26. This trade represents a 27.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,966 shares of company stock valued at $12,407,821. 48.35% of the stock is owned by company insiders.

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.