Goosehead Insurance (NASDAQ:GSHD) Downgraded by Wall Street Zen to “Sell”

Goosehead Insurance (NASDAQ:GSHD) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods dropped their price objective on Goosehead Insurance from $102.00 to $95.00 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Citigroup reiterated a “market outperform” rating on shares of Goosehead Insurance in a research report on Friday. Truist Financial cut their price target on shares of Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, October 23rd. Zacks Research upgraded shares of Goosehead Insurance from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Goosehead Insurance from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, January 7th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $90.30.

Goosehead Insurance Stock Performance

Shares of NASDAQ GSHD opened at $71.57 on Friday. The company’s fifty day moving average price is $72.96 and its 200 day moving average price is $79.23. Goosehead Insurance has a 1 year low of $64.40 and a 1 year high of $127.99. The company has a market capitalization of $2.64 billion, a PE ratio of 63.34, a price-to-earnings-growth ratio of 9.12 and a beta of 1.53.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Thursday, October 23rd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.08). Goosehead Insurance had a negative return on equity of 34.60% and a net margin of 8.55%.The firm had revenue of $90.44 million for the quarter, compared to analysts’ expectations of $94.25 million. During the same period in the previous year, the company earned $0.50 earnings per share. The company’s revenue was up 15.9% compared to the same quarter last year. On average, equities analysts expect that Goosehead Insurance will post 0.83 EPS for the current year.

Insider Buying and Selling at Goosehead Insurance

In other Goosehead Insurance news, General Counsel John Terry O’connor purchased 2,100 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were purchased at an average cost of $71.81 per share, for a total transaction of $150,801.00. Following the completion of the transaction, the general counsel owned 3,100 shares of the company’s stock, valued at $222,611. The trade was a 210.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Miller acquired 5,000 shares of the business’s stock in a transaction on Friday, November 28th. The stock was acquired at an average price of $72.34 per share, with a total value of $361,700.00. Following the acquisition, the chief executive officer owned 35,000 shares in the company, valued at $2,531,900. The trade was a 16.67% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 7,973 shares of company stock valued at $577,487. Corporate insiders own 48.35% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GSHD. EverSource Wealth Advisors LLC grew its holdings in Goosehead Insurance by 480.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock valued at $34,000 after buying an additional 269 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Goosehead Insurance by 802.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock valued at $47,000 after acquiring an additional 393 shares during the last quarter. CWM LLC grew its holdings in shares of Goosehead Insurance by 73.8% in the second quarter. CWM LLC now owns 471 shares of the company’s stock valued at $50,000 after purchasing an additional 200 shares during the period. Fifth Third Bancorp increased its position in Goosehead Insurance by 71.4% during the third quarter. Fifth Third Bancorp now owns 682 shares of the company’s stock worth $51,000 after purchasing an additional 284 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Goosehead Insurance by 41.7% during the second quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $92,000 after purchasing an additional 257 shares during the last quarter.

About Goosehead Insurance

Goosehead Insurance (NASDAQ: GSHD) is a technology-driven insurance agency that connects consumers with a broad range of personal and commercial insurance products through an extensive network of independent insurance advisors. The company specializes in homeowners, auto, flood, dwelling fire, umbrella, life, and commercial lines coverage, working with multiple national and regional carriers to offer tailored policies. By combining advanced quoting tools with local market expertise, Goosehead streamlines the insurance shopping process and helps clients find competitive coverage options.

Founded in 2003 and headquartered in Westlake, Texas, Goosehead has grown its footprint across more than 40 states in the U.S.