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

Goosehead Insurance, Inc (NASDAQ:GSHD)’s stock price reached a new 52-week low on Thursday after Keefe, Bruyette & Woods lowered their price target on the stock from $93.00 to $85.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Goosehead Insurance traded as low as $50.47 and last traded at $53.17, with a volume of 238321 shares traded. The stock had previously closed at $60.20.

GSHD has been the topic of a number of other reports. BMO Capital Markets reduced their target price on shares of Goosehead Insurance from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, March 28th. Truist Financial lowered their price objective on shares of Goosehead Insurance from $75.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday, March 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $100.00 price objective on shares of Goosehead Insurance in a research report on Monday, April 15th. Piper Sandler lowered their price objective on shares of Goosehead Insurance from $88.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, TD Cowen initiated coverage on shares of Goosehead Insurance in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $105.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Goosehead Insurance presently has an average rating of “Moderate Buy” and an average price target of $82.33.

Insiders Place Their Bets

In other Goosehead Insurance news, major shareholder & Robyn Jones Descendants Mark sold 3,934 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $75.67, for a total transaction of $297,685.78. Following the sale, the insider now owns 132,349 shares in the company, valued at approximately $10,014,848.83. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, General Counsel John Terry O’connor acquired 1,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was purchased at an average cost of $73.46 per share, for a total transaction of $73,460.00. Following the completion of the purchase, the general counsel now directly owns 1,000 shares of the company’s stock, valued at approximately $73,460. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 3,934 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $75.67, for a total value of $297,685.78. Following the transaction, the insider now owns 132,349 shares of the company’s stock, valued at $10,014,848.83. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 7,582 shares of company stock worth $561,249 and have sold 68,617 shares worth $5,291,137. 38.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On Goosehead Insurance

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Goosehead Insurance during the third quarter worth approximately $494,000. State of Alaska Department of Revenue bought a new stake in shares of Goosehead Insurance during the third quarter worth approximately $1,109,000. Maryland State Retirement & Pension System bought a new stake in shares of Goosehead Insurance during the third quarter worth approximately $656,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Goosehead Insurance during the third quarter worth approximately $1,048,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Goosehead Insurance by 130.7% during the third 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 Price Performance

The company has a debt-to-equity ratio of 4.02, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a market cap of $2.02 billion, a P/E ratio of 93.16, a P/E/G ratio of 4.31 and a beta of 1.28. The company’s 50 day simple moving average is $70.97 and its 200 day simple moving average is $72.75.

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