Goosehead Insurance (NASDAQ:GSHD) Hits New 1-Year Low After Analyst Downgrade

Goosehead Insurance, Inc (NASDAQ:GSHD)’s share price hit a new 52-week low 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. The stock had previously closed at $60.20.

Several other equities analysts also recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday. Piper Sandler reduced their target price on shares of Goosehead Insurance from $88.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday. TD Cowen assumed coverage on shares of Goosehead Insurance in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $105.00 target price for the company. JMP Securities restated a “market outperform” rating and issued a $100.00 price target on shares of Goosehead Insurance in a research note on Monday, April 15th. Finally, Royal Bank of Canada reduced their price objective on Goosehead Insurance from $88.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.89.

Insiders Place Their Bets

In other news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of Goosehead Insurance stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $74.92, for a total transaction of $2,722,368.04. Following the transaction, the insider now directly owns 132,349 shares in the company, valued at approximately $9,915,587.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of Goosehead Insurance stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $74.92, for a total value of $2,722,368.04. Following the transaction, the insider now owns 132,349 shares of the company’s stock, valued at approximately $9,915,587.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Desiree Coleman sold 8,952 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $80.05, for a total transaction of $716,607.60. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 7,582 shares of company stock worth $561,249 and sold 68,617 shares worth $5,291,137. 48.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Goosehead Insurance

A number of institutional investors and hedge funds have recently modified their holdings of GSHD. Principal Financial Group Inc. purchased a new stake in Goosehead Insurance during the third quarter valued at about $9,501,000. Vanguard Group Inc. boosted its stake in Goosehead Insurance by 17.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,332,578 shares of the company’s stock worth $173,847,000 after purchasing an additional 351,630 shares during the period. Amalgamated Bank grew its position in Goosehead Insurance by 217.7% during the 3rd quarter. Amalgamated Bank now owns 10,143 shares of the company’s stock worth $756,000 after purchasing an additional 6,950 shares in the last quarter. FMR LLC raised its stake in Goosehead Insurance by 383.3% during the 3rd quarter. FMR LLC now owns 70,292 shares of the company’s stock valued at $5,239,000 after purchasing an additional 55,747 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new stake in Goosehead Insurance in the 3rd quarter worth about $23,614,000.

Goosehead Insurance Trading Up 4.4 %

The company has a 50 day simple moving average of $69.62 and a two-hundred day simple moving average of $72.53. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.82 and a current ratio of 1.82. The company has a market cap of $2.11 billion, a PE ratio of 89.52, a PEG ratio of 4.32 and a beta of 1.28.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. The firm had revenue of $64.46 million for the quarter, compared to analyst estimates of $66.24 million. Goosehead Insurance had a net margin of 5.99% and a return on equity of 621.70%. Sell-side analysts forecast that Goosehead Insurance, Inc will post 0.8 EPS for the current year.

About Goosehead Insurance

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.