Goosehead Insurance (NASDAQ:GSHD) Shares Gap Down After Analyst Downgrade

Goosehead Insurance (NASDAQ:GSHD)’s stock price gapped down before the market opened on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $58.00 to $55.00. The stock had previously closed at $39.65, but opened at $36.41. JPMorgan Chase & Co. currently has a neutral rating on the stock. Goosehead Insurance shares last traded at $37.53, with a volume of 7,644 shares.

Several other research firms have also commented on GSHD. BMO Capital Markets dropped their price objective on shares of Goosehead Insurance from $79.00 to $55.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 18th. Piper Sandler dropped their price objective on shares of Goosehead Insurance from $69.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Truist Financial lowered their price objective on Goosehead Insurance from $72.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, February 18th. UBS Group lifted their price objective on Goosehead Insurance from $81.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Keefe, Bruyette & Woods lifted their price objective on Goosehead Insurance from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Goosehead Insurance presently has an average rating of “Hold” and an average target price of $67.45.

Insiders Place Their Bets

In other Goosehead Insurance news, major shareholder & Robyn Jones Descendants Mark sold 5,090 shares of Goosehead Insurance stock in a transaction on Friday, May 1st. The stock was sold at an average price of $45.32, for a total value of $230,678.80. Following the completion of the sale, the insider owned 7,203,796 shares of the company’s stock, valued at approximately $326,476,034.72. This trade represents a 0.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Louis Goldberg purchased 5,575 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was acquired at an average price of $44.85 per share, with a total value of $250,038.75. Following the purchase, the director directly owned 5,575 shares of the company’s stock, valued at approximately $250,038.75. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders sold 10,576 shares of company stock valued at $494,568. Corporate insiders own 38.07% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its stake in shares of Goosehead Insurance by 480.4% in the second quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock worth $34,000 after purchasing an additional 269 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Goosehead Insurance in the fourth quarter worth $41,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Goosehead Insurance by 802.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock worth $47,000 after purchasing an additional 393 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Goosehead Insurance by 71.4% in 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, Quadrant Capital Group LLC raised its stake in shares of Goosehead Insurance by 614.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,000 shares of the company’s stock worth $74,000 after purchasing an additional 860 shares during the last quarter.

Goosehead Insurance Price Performance

The company has a 50 day moving average price of $43.56 and a two-hundred day moving average price of $58.78. The stock has a market cap of $1.34 billion, a PE ratio of 33.03, a PEG ratio of 1.35 and a beta of 1.62.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.20 by $0.17. Goosehead Insurance had a negative return on equity of 20.96% and a net margin of 7.94%.The company had revenue of $79.48 million during the quarter, compared to analyst estimates of $105.16 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. Goosehead Insurance’s revenue was up 23.1% compared to the same quarter last year. As a group, equities analysts predict that Goosehead Insurance will post 1.4 earnings per share for the current fiscal year.

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.