Goosehead Insurance (NASDAQ:GSHD) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Goosehead Insurance (NASDAQ:GSHD) from a hold rating to a sell rating in a report released on Saturday morning.

A number of other equities analysts also recently weighed in on GSHD. UBS Group cut their price target on shares of Goosehead Insurance from $130.00 to $121.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Keefe, Bruyette & Woods dropped their target price on shares of Goosehead Insurance from $102.00 to $95.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Jefferies Financial Group began coverage on shares of Goosehead Insurance in a research report on Monday, December 1st. They set a “buy” rating and a $93.00 target price for the company. BMO Capital Markets lowered their price target on shares of Goosehead Insurance from $110.00 to $79.00 and set a “market perform” rating on the stock in a report on Tuesday, November 25th. Finally, Truist Financial dropped their price objective on Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, October 23rd. Six equities 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’s stock. According to MarketBeat.com, Goosehead Insurance has an average rating of “Hold” and an average target price of $90.30.

Goosehead Insurance Stock Down 0.7%

Shares of NASDAQ GSHD opened at $71.57 on Friday. Goosehead Insurance has a twelve month low of $64.40 and a twelve month high of $127.99. The stock’s 50 day moving average price is $73.01 and its 200-day moving average price is $78.66. The company has a market capitalization of $2.64 billion, a PE ratio of 63.34, a PEG ratio of 9.05 and a beta of 1.53.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). Goosehead Insurance had a net margin of 8.55% and a negative return on equity of 34.60%. The business 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 business posted $0.50 earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. As a group, research analysts expect that Goosehead Insurance will post 0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Goosehead Insurance news, CFO Mark E. Jr. Jones bought 873 shares of Goosehead Insurance stock in a transaction that occurred on Monday, October 27th. The stock was acquired at an average cost of $74.44 per share, for a total transaction of $64,986.12. Following the completion of the transaction, the chief financial officer directly owned 4,364 shares in the company, valued at $324,856.16. This represents a 25.01% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Miller bought 5,000 shares of the firm’s stock in a transaction on Friday, November 28th. The stock was acquired at an average price of $72.34 per share, for a total transaction of $361,700.00. Following the completion of the purchase, the chief executive officer directly owned 35,000 shares in the company, valued at approximately $2,531,900. The trade was a 16.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 7,973 shares of company stock worth $577,487. 37.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can grew its position in Goosehead Insurance by 2.2% in the second quarter. Bank of Montreal Can now owns 5,299 shares of the company’s stock worth $559,000 after acquiring an additional 116 shares in the last quarter. Bryce Point Capital LLC lifted its stake in Goosehead Insurance by 2.2% during the second quarter. Bryce Point Capital LLC now owns 6,954 shares of the company’s stock worth $734,000 after purchasing an additional 148 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Goosehead Insurance by 7.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,436 shares of the company’s stock worth $257,000 after purchasing an additional 159 shares in the last quarter. Amalgamated Bank increased its position in shares of Goosehead Insurance by 2.5% during the 2nd quarter. Amalgamated Bank now owns 7,051 shares of the company’s stock valued at $744,000 after purchasing an additional 170 shares during the last quarter. Finally, CWM LLC increased its position in shares of Goosehead Insurance by 73.8% during the 2nd quarter. CWM LLC now owns 471 shares of the company’s stock valued at $50,000 after purchasing an additional 200 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.