MetLife Investment Management LLC Trims Stake in Goosehead Insurance, Inc (NASDAQ:GSHD)

MetLife Investment Management LLC cut its holdings in Goosehead Insurance, Inc (NASDAQ:GSHD) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,670 shares of the company’s stock after selling 862 shares during the quarter. MetLife Investment Management LLC’s holdings in Goosehead Insurance were worth $1,131,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. boosted its stake in shares of Goosehead Insurance by 30.4% during the second quarter. Daiwa Securities Group Inc. now owns 35,118 shares of the company’s stock valued at $2,017,000 after purchasing an additional 8,193 shares in the last quarter. Quarry LP boosted its position in Goosehead Insurance by 2,810.7% during the 2nd quarter. Quarry LP now owns 815 shares of the company’s stock valued at $47,000 after acquiring an additional 787 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Goosehead Insurance in the 2nd quarter valued at $408,000. Marshall Wace LLP bought a new position in shares of Goosehead Insurance in the 2nd quarter worth $436,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Goosehead Insurance by 7,593.8% during the 3rd quarter. International Assets Investment Management LLC now owns 10,002 shares of the company’s stock worth $8,930,000 after purchasing an additional 9,872 shares during the last quarter.

Insider Activity

In other Goosehead Insurance news, CEO Mark Miller sold 58,327 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $110.22, for a total value of $6,428,801.94. Following the completion of the transaction, the chief executive officer now owns 30,000 shares in the company, valued at approximately $3,306,600. This represents a 66.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Adrienne Kebodeaux sold 43,928 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $100.21, for a total transaction of $4,402,024.88. The disclosure for this sale can be found here. Insiders sold a total of 122,255 shares of company stock valued at $12,686,800 in the last quarter. 48.35% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GSHD has been the subject of a number of recent research reports. Truist Financial boosted their target price on shares of Goosehead Insurance from $65.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Royal Bank of Canada increased their price objective on Goosehead Insurance from $95.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Piper Sandler upped their target price on Goosehead Insurance from $103.00 to $122.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. raised their price target on Goosehead Insurance from $65.00 to $77.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, BMO Capital Markets upped their price objective 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. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $97.90.

Goosehead Insurance Price Performance

Shares of NASDAQ GSHD opened at $124.09 on Friday. Goosehead Insurance, Inc has a 52 week low of $50.47 and a 52 week high of $130.39. The business’s 50 day moving average price is $108.71 and its 200 day moving average price is $85.43. 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 cap of $4.60 billion, a P/E ratio of 172.35, a P/E/G ratio of 4.84 and a beta of 1.38.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The firm had revenue of $78.04 million for the quarter, compared to analyst estimates of $80.54 million. Goosehead Insurance had a net margin of 6.77% and a return on equity of 284.41%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 earnings per share. On average, sell-side analysts expect that Goosehead Insurance, Inc will post 0.84 earnings per share for the current year.

Goosehead Insurance Company Profile

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.