Goosehead Insurance (NASDAQ:GSHD) Stock Price Down 6.8% After Analyst Downgrade

Goosehead Insurance (NASDAQ:GSHD) fell 6.8% during mid-day trading on Thursday after BMO Capital Markets lowered their price target on the stock from $79.00 to $55.00. BMO Capital Markets currently has a market perform rating on the stock. Goosehead Insurance traded as low as $44.00 and last traded at $44.1810. 177,506 shares were traded during mid-day trading, a decline of 58% from the average session volume of 426,035 shares. The stock had previously closed at $47.38.

A number of other research analysts have also recently weighed in on the stock. Truist Financial dropped their target price on shares of Goosehead Insurance from $72.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday. Wall Street Zen raised shares of Goosehead Insurance from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Goosehead Insurance in a research note on Wednesday, January 28th. Citizens Jmp decreased their target price on Goosehead Insurance from $140.00 to $125.00 and set a “market outperform” rating for the company in a research report on Wednesday. Finally, Zacks Research upgraded Goosehead Insurance from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Goosehead Insurance presently has a consensus rating of “Hold” and an average price target of $84.00.

Insider Buying and Selling at Goosehead Insurance

In related news, CEO Mark Miller acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were bought at an average cost of $72.34 per share, for a total transaction of $361,700.00. Following the purchase, the chief executive officer owned 35,000 shares in the company, valued at $2,531,900. This trade represents a 16.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel John Terry O’connor bought 2,100 shares of Goosehead Insurance stock in a transaction on Wednesday, November 26th. The shares were bought at an average cost of $71.81 per share, with a total value of $150,801.00. Following the acquisition, the general counsel directly owned 3,100 shares in the company, valued at approximately $222,611. This represents a 210.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 48.35% of the company’s stock.

Institutional Trading of Goosehead Insurance

Institutional investors and hedge funds have recently bought and sold shares of the company. Caxton Associates LLP purchased a new stake in shares of Goosehead Insurance in the second quarter worth $2,140,000. Panagora Asset Management Inc. bought a new position in Goosehead Insurance in the 2nd quarter worth about $1,948,000. 3G Capital Partners LP raised its holdings in shares of Goosehead Insurance by 105.6% in the 2nd quarter. 3G Capital Partners LP now owns 462,500 shares of the company’s stock valued at $48,798,000 after acquiring an additional 237,500 shares in the last quarter. King Luther Capital Management Corp raised its holdings in shares of Goosehead Insurance by 4.9% in the 2nd quarter. King Luther Capital Management Corp now owns 124,544 shares of the company’s stock valued at $13,141,000 after acquiring an additional 5,868 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Goosehead Insurance by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 146,330 shares of the company’s stock valued at $15,439,000 after acquiring an additional 5,363 shares during the last quarter.

Goosehead Insurance Price Performance

The company has a fifty day moving average price of $66.29 and a 200 day moving average price of $72.66. The company has a market cap of $1.64 billion, a PE ratio of 42.74, a price-to-earnings-growth ratio of 2.64 and a beta of 1.54.

Goosehead Insurance (NASDAQ:GSHD) last announced its earnings results on Tuesday, February 17th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.10. Goosehead Insurance had a net margin of 7.62% and a negative return on equity of 21.31%. The business had revenue of $78.20 million for the quarter, compared to the consensus estimate of $99.67 million. During the same period last year, the firm posted $0.79 earnings per share. Goosehead Insurance’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts predict that Goosehead Insurance will post 0.83 EPS for the current fiscal year.

Goosehead Insurance Company Profile

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.