Investing

Chairman and CEO Mark Jones Trims Shares in Goosehead Insurance (GSHD)

Fintel reports that Jones Mark Evan has filed a 13D/A form with the SEC disclosing ownership of 14,958,039 shares of Goosehead Insurance Inc (GSHD). This represents 40.31% of the company.

In their previous filing dated October 21, 2022 they reported 15,376,086 shares and 41.54% of the company, a decrease in shares of 2.72% and a decrease in total ownership of 1.23% (calculated as current – previous percent ownership).

Goosehead Insurance Inc. is an independent personal lines insurance agency that distributes its products and services throughout the United States.

Goosehead represents over 140 insurance companies that underwrite personal lines and small commercial lines risks, and its operations include a network of nine corporate sales offices and over 1,468 operating and contracted franchise locations.

In its most recent Q3 financial results, the company reported the following highlights:

  • Total Revenues grew organically 38% over the prior-year period to $57.7 million in the third quarter of 2022
  • Third quarter Core Revenues* of $51.9 million increased 39% over the prior-year period
  • Third quarter net income of $3.0 million decreased 43%, EPS of $0.09 per share decreased 55% and adjusted EPS* of $0.24 per share declined 8%, over the prior-year period
  • Adjusted EBITDA* grew 67% over the prior-year period to $11.0 million
  • Adjusted EBITDA Margin* increased 3 points over the prior-year period to 19%.
  • Total written premiums placed for the third quarter increased 42% over the prior-year period to $616 million
  • Policies in force grew 31% from the prior-year period to approximately 1,238,000
  • Corporate sales headcount of 411 was down 18% year-over-year
  • Total franchises increased 17% compared to the prior-year period to 2,287; operating franchises grew 23% compared to the prior-year period to 1,403

What are other large shareholders doing?

 

Kayne Anderson Rudnick Investment Management Llc holds 3,074,160 shares representing 14.54% ownership of the company. In it’s prior filing, the firm reported owning 1,891,470 shares, representing an increase of 38.47%. The firm decreased its portfolio allocation in GSHD by 2.15% over the last quarter.

Wasatch Advisors Inc holds 2,646,220 shares representing 12.51% ownership of the company. In it’s prior filing, the firm reported owning 3,007,920 shares, representing a decrease of 13.67%. The firm decreased its portfolio allocation in GSHD by 24.54% over the last quarter.

Durable Capital Partners LP holds 998,625 shares representing 4.72% ownership of the company. In it’s prior filing, the firm reported owning 891,776 shares, representing an increase of 10.70%. The firm decreased its portfolio allocation in GSHD by 16.34% over the last quarter.

Df Dent & Co Inc holds 846,911 shares representing 4.00% ownership of the company. In it’s prior filing, the firm reported owning 547,710 shares, representing an increase of 35.33%. The firm increased its portfolio allocation in GSHD by 32.16% over the last quarter.

Allspring Global Investments Holdings, LLC holds 683,635 shares representing 3.23% ownership of the company. In it’s prior filing, the firm reported owning 697,257 shares, representing a decrease of 1.99%. The firm decreased its portfolio allocation in GSHD by 65.32% over the last quarter.

What is the overall Fund Sentiment?

There are 384 funds or institutions reporting positions in Goosehead Insurance Inc. This is a decrease of 14 owner(s) or 3.52%.

Average portfolio weight of all funds dedicated to Goosehead Insurance Inc is 0.1851%, a decrease of 8.7056%. Total shares owned by institutions increased in the last three months by 0.26% to 28,164,821 shares.

Fintel’s Fund Sentiment Score is a quantitative model that ranks companies from zero to 100 based on Fund Sentiment. Fund Sentiment is important because it tells you if funds are buying or selling – and in particular how the company ranks compared to other companies in the investing universe.

This article originally appeared on Fintel.

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.