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

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

A number of other brokerages have also recently issued reports on GSHD. BMO Capital Markets lowered their price objective on Goosehead Insurance from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, March 28th. TD Cowen began coverage on shares of Goosehead Insurance in a research report on Wednesday, January 10th. They set an “outperform” rating and a $105.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of Goosehead Insurance from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Thursday. JMP Securities reiterated a “market outperform” rating and set a $100.00 price target on shares of Goosehead Insurance in a report on Monday, April 15th. Finally, Piper Sandler lowered their price objective on Goosehead Insurance from $88.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.89.

Insider Activity

In other Goosehead Insurance news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $74.92, for a total value of $2,722,368.04. Following the transaction, the insider now directly owns 132,349 shares of the company’s stock, valued at $9,915,587.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel John Terry O’connor bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average cost of $73.46 per share, with a total value of $73,460.00. Following the acquisition, the general counsel now owns 1,000 shares in the company, valued at $73,460. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 132,349 shares of the company’s stock, valued at approximately $9,915,587.08. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 7,582 shares of company stock valued at $561,249 and have sold 68,617 shares valued at $5,291,137. Insiders own 38.03% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GSHD. USA Financial Formulas boosted its holdings in Goosehead Insurance by 5,350.0% in the 4th quarter. USA Financial Formulas now owns 327 shares of the company’s stock worth $25,000 after buying an additional 321 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Goosehead Insurance during the fourth quarter worth about $35,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Goosehead Insurance during the third quarter worth about $37,000. CENTRAL TRUST Co bought a new stake in Goosehead Insurance during the 1st quarter valued at approximately $67,000. Finally, Signaturefd LLC lifted its holdings in Goosehead Insurance by 28.9% in the 3rd quarter. Signaturefd LLC now owns 1,116 shares of the company’s stock worth $83,000 after purchasing an additional 250 shares in the last quarter.

Goosehead Insurance Stock Performance

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 company has a debt-to-equity ratio of 4.02, a quick ratio of 1.82 and a current ratio of 1.82. The business’s fifty day simple moving average is $70.38 and its 200-day simple moving average is $72.67.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Wednesday, April 24th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $66.24 million. As a group, equities research analysts expect 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.