Citizens Jmp Issues Pessimistic Forecast for Goosehead Insurance (NASDAQ:GSHD) Stock Price

Goosehead Insurance (NASDAQ:GSHD) had its target price dropped by stock analysts at Citizens Jmp from $100.00 to $80.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price target indicates a potential upside of 80.02% from the stock’s current price.

GSHD has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their target price on Goosehead Insurance from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. Citigroup reissued a “market outperform” rating on shares of Goosehead Insurance in a research report on Monday. Piper Sandler lowered Goosehead Insurance from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $72.00 to $48.00 in a report on Tuesday, October 6th. Keefe, Bruyette & Woods lowered their price target on Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada raised their price target on Goosehead Insurance from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.42.

Goosehead Insurance Trading Up 1.1%

GSHD opened at $44.44 on Monday. The firm has a market cap of $1.58 billion, a P/E ratio of 32.44, a P/E/G ratio of 1.58 and a beta of 1.46. Goosehead Insurance has a 12 month low of $33.68 and a 12 month high of $79.85. The stock has a 50-day moving average of $58.26 and a 200 day moving average of $50.03.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.17. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%. The company had revenue of $95.63 million for the quarter, compared to analysts’ expectations of $103.30 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. On average, research analysts forecast that Goosehead Insurance will post 1.45 earnings per share for the current fiscal year.

Insider Activity

In other Goosehead Insurance news, major shareholder Durable Capital Partners Lp bought 150,000 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The shares were purchased at an average price of $47.32 per share, with a total value of $7,098,000.00. Following the completion of the purchase, the insider owned 2,720,260 shares in the company, valued at $128,722,703.20. This represents a 5.84% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Adrienne Kebodeaux sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $70.00, for a total value of $490,000.00. Following the transaction, the insider directly owned 273,027 shares in the company, valued at approximately $19,111,890. This represents a 2.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders purchased 339,979 shares of company stock valued at $18,446,632 and sold 267,000 shares valued at $18,056,139. 38.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Goosehead Insurance

A number of institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc lifted its holdings in Goosehead Insurance by 36.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,057 shares of the company’s stock worth $48,000 after buying an additional 285 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Goosehead Insurance by 37.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $54,000 after acquiring an additional 328 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Goosehead Insurance by 484.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company’s stock valued at $25,000 after acquiring an additional 426 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Goosehead Insurance by 12.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 6,500 shares of the company’s stock valued at $315,000 after acquiring an additional 700 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Goosehead Insurance in the 2nd quarter valued at about $48,000.

About Goosehead Insurance

Goosehead Insurance, Inc is an independent insurance agency and distribution company that helps individuals and businesses shop for insurance coverage from a broad network of insurance carriers. The company uses a technology-enabled platform to provide quoting, policy management and customer service through its corporate operations and franchise network.

Goosehead offers a range of personal and commercial insurance products, including homeowners, automobile, renters, flood, umbrella and life insurance, along with coverage designed for small businesses and other commercial customers.