Lord Abbett & CO. LLC lowered its position in shares of Goosehead Insurance Inc (NASDAQ:GSHD) by 26.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 549,560 shares of the company’s stock after selling 200,655 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Goosehead Insurance were worth $14,448,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wells Fargo & Company MN raised its stake in Goosehead Insurance by 394.5% during the third quarter. Wells Fargo & Company MN now owns 5,904 shares of the company’s stock worth $199,000 after purchasing an additional 4,710 shares during the period. Jane Street Group LLC purchased a new position in Goosehead Insurance during the third quarter worth approximately $209,000. MetLife Investment Advisors LLC purchased a new position in Goosehead Insurance during the third quarter worth approximately $255,000. Alliancebernstein L.P. purchased a new position in Goosehead Insurance during the third quarter worth approximately $339,000. Finally, Rhumbline Advisers raised its stake in Goosehead Insurance by 44.8% during the fourth quarter. Rhumbline Advisers now owns 13,391 shares of the company’s stock worth $352,000 after purchasing an additional 4,141 shares during the period. Hedge funds and other institutional investors own 82.16% of the company’s stock.
Separately, Zacks Investment Research downgraded shares of Goosehead Insurance from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Goosehead Insurance presently has an average rating of “Buy” and an average price target of $25.00.
Shares of GSHD stock opened at $27.62 on Tuesday. Goosehead Insurance Inc has a 52 week low of $10.78 and a 52 week high of $38.18. The firm has a market capitalization of $389.95 million and a PE ratio of 104.00.
Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.04). Goosehead Insurance had a negative return on equity of 23.68% and a negative net margin of 8.54%. The firm had revenue of $14.72 million for the quarter, compared to analysts’ expectations of $15.30 million. As a group, sell-side analysts forecast that Goosehead Insurance Inc will post 0.39 earnings per share for the current year.
The company also recently declared a special dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 18th will be paid a dividend of $0.41 per share. The ex-dividend date is Friday, March 15th.
In other Goosehead Insurance news, VP Patrick Ryan Langston sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $31.10, for a total transaction of $466,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael C. Colby sold 20,000 shares of the firm’s stock in a transaction on Friday, December 28th. The stock was sold at an average price of $26.47, for a total transaction of $529,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 410,972 shares of company stock worth $11,549,696 in the last ninety days.
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Goosehead Insurance Profile
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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