Goosehead Insurance (NASDAQ:GSHD) Sets New 1-Year Low – What’s Next?

Goosehead Insurance (NASDAQ:GSHD)’s share price reached a new 52-week low on Wednesday . The company traded as low as $62.81 and last traded at $63.58, with a volume of 416368 shares changing hands. The stock had previously closed at $68.28.

Analyst Ratings Changes

GSHD has been the subject of several recent research reports. BMO Capital Markets decreased their target price on shares of Goosehead Insurance from $110.00 to $79.00 and set a “market perform” rating for the company in a research report on Tuesday, November 25th. JMP Securities lowered their price objective on Goosehead Insurance from $150.00 to $140.00 and set a “market outperform” rating for the company in a research note on Tuesday, October 14th. UBS Group cut their target price on Goosehead Insurance from $130.00 to $121.00 and set a “buy” rating on the stock in a research report on Monday, October 27th. Truist Financial lowered their price target on Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, October 23rd. Finally, Piper Sandler dropped their price objective on Goosehead Insurance from $79.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Goosehead Insurance currently has an average rating of “Hold” and an average target price of $90.30.

Goosehead Insurance Price Performance

The firm has a market cap of $2.32 billion, a PE ratio of 55.59, a P/E/G ratio of 7.92 and a beta of 1.53. The business’s fifty day moving average is $72.58 and its 200-day moving average is $77.09.

Insider Buying and Selling at Goosehead Insurance

In related news, Director Thomas Mcconnon sold 69,686 shares of Goosehead Insurance stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $73.62, for a total value of $5,130,283.32. Following the completion of the sale, the director owned 269,322 shares of the company’s stock, valued at approximately $19,827,485.64. This trade represents a 20.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel John Terry O’connor bought 2,100 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were acquired at an average price of $71.81 per share, with a total value of $150,801.00. Following the transaction, the general counsel directly owned 3,100 shares of the company’s stock, valued at approximately $222,611. This trade represents a 210.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 48.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in GSHD. Durable Capital Partners LP increased its stake in Goosehead Insurance by 126.5% in the 3rd quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company’s stock worth $114,769,000 after acquiring an additional 861,374 shares during the last quarter. Whitebark Investors LP purchased a new position in shares of Goosehead Insurance during the third quarter worth about $25,229,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Goosehead Insurance in the third quarter worth approximately $25,222,000. Balyasny Asset Management L.P. increased its position in shares of Goosehead Insurance by 118.7% in the second quarter. Balyasny Asset Management L.P. now owns 556,760 shares of the company’s stock worth $58,744,000 after purchasing an additional 302,130 shares during the last quarter. Finally, Wasatch Advisors LP raised its stake in Goosehead Insurance by 12.6% in the second quarter. Wasatch Advisors LP now owns 2,275,369 shares of the company’s stock valued at $240,074,000 after purchasing an additional 253,777 shares in 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.