Goosehead Insurance (NASDAQ:GSHD) Sets New 1-Year Low on Analyst Downgrade

Goosehead Insurance, Inc (NASDAQ:GSHD) shares hit a new 52-week low during mid-day trading on Thursday after Truist Financial lowered their price target on the stock from $70.00 to $60.00. Truist Financial currently has a hold rating on the stock. Goosehead Insurance traded as low as $50.47 and last traded at $53.17, with a volume of 238321 shares trading hands. The stock had previously closed at $60.20.

Other research analysts also recently issued reports about the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $100.00 target price on shares of Goosehead Insurance in a research report on Monday, April 15th. Royal Bank of Canada decreased their target price on Goosehead Insurance from $88.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday. Keefe, Bruyette & Woods decreased their price objective on Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday. Piper Sandler lowered their target price on shares of Goosehead Insurance from $88.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Goosehead Insurance from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.89.

Insider Activity

In other Goosehead Insurance news, major shareholder Desiree Coleman sold 2,324 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $80.17, for a total value of $186,315.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, major shareholder Desiree Coleman sold 2,324 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $80.17, for a total transaction of $186,315.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mark Miller purchased 5,000 shares of Goosehead Insurance stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost of $73.86 per share, with a total value of $369,300.00. Following the completion of the acquisition, the chief operating officer now directly owns 20,000 shares in the company, valued at $1,477,200. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 7,582 shares of company stock valued at $561,249 and have sold 68,617 shares valued at $5,291,137. Corporate insiders own 38.03% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in GSHD. SG Americas Securities LLC purchased a new stake in shares of Goosehead Insurance during the 3rd quarter worth approximately $494,000. State of Alaska Department of Revenue acquired a new stake in Goosehead Insurance in the third quarter valued at $1,109,000. Maryland State Retirement & Pension System acquired a new stake in Goosehead Insurance in the third quarter valued at $656,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Goosehead Insurance in the third quarter valued at $1,048,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Goosehead Insurance by 130.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 181,779 shares of the company’s stock worth $13,548,000 after buying an additional 102,992 shares during the last quarter.

Goosehead Insurance Stock Down 11.7 %

The firm has a market capitalization of $2.02 billion, a PE ratio of 93.26, a price-to-earnings-growth ratio of 4.31 and a beta of 1.28. The firm’s 50-day moving average is $70.38 and its 200 day moving average is $72.67. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.82 and a current ratio of 1.82.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. The company had revenue of $64.46 million for the quarter, compared to the consensus estimate of $66.24 million. Goosehead Insurance had a net margin of 5.41% and a negative return on equity of 392.58%. As a group, research analysts forecast that Goosehead Insurance, Inc will post 0.8 earnings per share for the current fiscal 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.