Goosehead Insurance (NASDAQ:GSHD) Hits New 52-Week Low Following Analyst Downgrade

Goosehead Insurance, Inc (NASDAQ:GSHD) 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 changing hands. The stock had previously closed at $60.20.

Other research analysts have also recently issued reports about the stock. Piper Sandler lowered their price target on shares of Goosehead Insurance from $88.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods lowered their target price on Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on Goosehead Insurance from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Thursday. Royal Bank of Canada decreased their price objective on Goosehead Insurance from $88.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, TD Cowen initiated coverage on Goosehead Insurance in a research report on Wednesday, January 10th. They set an “outperform” rating and a $105.00 price objective on the stock. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.89.

Insider Buying and Selling at Goosehead Insurance

In related news, CFO Mark E. Jr. Jones bought 1,332 shares of Goosehead Insurance stock in a transaction dated Monday, February 26th. The shares were bought at an average cost of $74.86 per share, with a total value of $99,713.52. Following the acquisition, the chief financial officer now owns 1,332 shares in the company, valued at approximately $99,713.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Mark Miller acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $73.86 per share, with a total value of $369,300.00. Following the completion of the purchase, the chief operating officer now directly owns 20,000 shares of the company’s stock, valued at approximately $1,477,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark E. Jr. Jones acquired 1,332 shares of the stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $74.86 per share, with a total value of $99,713.52. Following the completion of the transaction, the chief financial officer now owns 1,332 shares of the company’s stock, valued at $99,713.52. The disclosure for this purchase can be found here. In the last three months, insiders purchased 7,582 shares of company stock valued at $561,249 and sold 68,617 shares valued at $5,291,137. Insiders own 48.35% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

Several hedge funds and other institutional investors have recently modified their holdings of GSHD. USA Financial Formulas boosted its stake in Goosehead Insurance by 5,350.0% in the fourth quarter. USA Financial Formulas now owns 327 shares of the company’s stock valued at $25,000 after buying an additional 321 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Goosehead Insurance in the fourth quarter worth about $35,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Goosehead Insurance in the 3rd quarter valued at approximately $37,000. CENTRAL TRUST Co acquired a new stake in shares of Goosehead Insurance in the 1st quarter valued at approximately $67,000. Finally, Signaturefd LLC grew its holdings in shares of Goosehead Insurance by 28.9% during the 3rd quarter. Signaturefd LLC now owns 1,116 shares of the company’s stock valued at $83,000 after purchasing an additional 250 shares during the last quarter.

Goosehead Insurance Stock Performance

The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 89.52, a PEG ratio of 4.32 and a beta of 1.28. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 4.02. The stock’s 50-day moving average is $69.62 and its 200-day moving average is $72.53.

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, topping the consensus estimate of $0.01 by $0.05. Goosehead Insurance had a net margin of 5.99% and a return on equity of 621.70%. The company had revenue of $64.46 million during the quarter, compared to the consensus estimate of $66.24 million. On average, analysts predict that Goosehead Insurance, Inc will post 0.8 EPS for the current fiscal 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.