Goosehead Insurance (NASDAQ:GSHD) Receives Average Recommendation of “Hold” from Brokerages

Shares of Goosehead Insurance (NASDAQ:GSHD) have been assigned a consensus rating of “Hold” from the fourteen research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $65.0909.

Several research firms recently issued reports on GSHD. UBS Group lowered their price objective on Goosehead Insurance from $85.00 to $67.00 and set a “buy” rating on the stock in a research report on Tuesday, June 9th. JPMorgan Chase & Co. lowered their price objective on Goosehead Insurance from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Piper Sandler lowered their price objective on Goosehead Insurance from $60.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods upped their price objective on Goosehead Insurance from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings lowered shares of Goosehead Insurance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 20th.

Goosehead Insurance Stock Performance

GSHD stock opened at $36.88 on Monday. The stock has a market capitalization of $1.31 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 1.28 and a beta of 1.52. Goosehead Insurance has a 12-month low of $33.68 and a 12-month high of $106.84. The stock’s 50 day simple moving average is $40.40 and its 200 day simple moving average is $53.06.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.17. The business had revenue of $79.48 million for the quarter, compared to analysts’ expectations of $105.16 million. Goosehead Insurance had a negative return on equity of 20.96% and a net margin of 7.94%.The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. On average, research analysts predict that Goosehead Insurance will post 1.49 earnings per share for the current year.

Insider Activity at Goosehead Insurance

In related news, CFO John Arthur Martin bought 5,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was acquired at an average cost of $34.73 per share, for a total transaction of $173,650.00. Following the purchase, the chief financial officer owned 5,000 shares in the company, valued at approximately $173,650. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder & Robyn Jones Descendants Mark sold 9,588 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $40.76, for a total transaction of $390,806.88. Following the sale, the insider owned 6,995,180 shares of the company’s stock, valued at approximately $285,123,536.80. This represents a 0.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have acquired 12,800 shares of company stock valued at $480,718 and have sold 219,192 shares valued at $9,092,267. Insiders own 38.07% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

A number of hedge funds have recently added to or reduced their stakes in GSHD. EverSource Wealth Advisors LLC raised its stake in Goosehead Insurance by 480.4% during 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 during the last quarter. Kestra Advisory Services LLC purchased a new stake in Goosehead Insurance during the 4th quarter valued at $41,000. Northwestern Mutual Wealth Management Co. raised its stake in 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 buying an additional 393 shares during the last quarter. Fifth Third Bancorp raised its stake in Goosehead Insurance by 71.4% during the 3rd quarter. Fifth Third Bancorp now owns 682 shares of the company’s stock valued at $51,000 after buying an additional 284 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Goosehead Insurance by 614.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,000 shares of the company’s stock valued at $74,000 after buying an additional 860 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.