Insider Selling: Goosehead Insurance Inc (NASDAQ:GSHD) COO Sells 1,180 Shares of Stock

Goosehead Insurance Inc (NASDAQ:GSHD) COO Michael C. Colby sold 1,180 shares of Goosehead Insurance stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $75.02, for a total transaction of $88,523.60. Following the sale, the chief operating officer now directly owns 682,678 shares in the company, valued at approximately $51,214,503.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Goosehead Insurance stock opened at $75.16 on Wednesday. Goosehead Insurance Inc has a fifty-two week low of $37.26 and a fifty-two week high of $76.31. The firm has a 50 day moving average price of $65.02 and a 200 day moving average price of $52.23. The company has a market capitalization of $2.65 billion, a PE ratio of 341.65 and a beta of 0.78.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Thursday, April 30th. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.04). Goosehead Insurance had a net margin of 4.25% and a negative return on equity of 12.02%. The company had revenue of $20.43 million during the quarter, compared to analyst estimates of $20.16 million. As a group, research analysts predict that Goosehead Insurance Inc will post 0.33 earnings per share for the current year.

Several analysts have recently commented on GSHD shares. Royal Bank of Canada lifted their price target on shares of Goosehead Insurance from $59.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, June 5th. BidaskClub raised shares of Goosehead Insurance from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 1st. Zacks Investment Research raised shares of Goosehead Insurance from a “sell” rating to a “hold” rating in a research report on Tuesday, June 23rd. Finally, ValuEngine raised shares of Goosehead Insurance from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Goosehead Insurance currently has a consensus rating of “Buy” and a consensus target price of $55.60.

Large investors have recently bought and sold shares of the business. Great West Life Assurance Co. Can acquired a new position in shares of Goosehead Insurance in the fourth quarter worth $36,000. Bank of Montreal Can grew its stake in shares of Goosehead Insurance by 44.1% in the fourth quarter. Bank of Montreal Can now owns 1,444 shares of the company’s stock worth $61,000 after acquiring an additional 442 shares in the last quarter. Advisor Group Holdings Inc. acquired a new position in shares of Goosehead Insurance in the first quarter worth $72,000. Bessemer Group Inc. acquired a new position in shares of Goosehead Insurance in the first quarter worth $76,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Goosehead Insurance in the fourth quarter worth $87,000. Institutional investors and hedge funds own 42.04% of the company’s stock.

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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