Goosehead Insurance (NASDAQ:GSHD) Given Hold (C+) Rating at Weiss Ratings

Key Points

• Weiss Ratings has reissued a "hold (C+)" rating for Goosehead Insurance (NASDAQ:GSHD), amidst various assessments from other analysts.
• Goosehead's stock has experienced price target reductions from several firms, with Keefe, Bruyette & Woods lowering their target from $130 to $120.
• In insider trading news, major shareholders have sold significant shares, including a transaction where 60,000 shares were sold for over $5 million, indicating potential profit-taking.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report)'s stock had its "hold (c+)" rating reissued by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

GSHD has been the topic of several other research reports. Zacks Research upgraded shares of Goosehead Insurance from a "strong sell" rating to a "hold" rating in a research note on Monday, August 25th. Keefe, Bruyette & Woods reduced their price target on shares of Goosehead Insurance from $130.00 to $120.00 and set an "outperform" rating for the company in a research report on Thursday, July 24th. Piper Sandler reduced their price target on shares of Goosehead Insurance from $92.00 to $79.00 and set a "neutral" rating for the company in a research report on Monday. Cantor Fitzgerald raised shares of Goosehead Insurance to a "strong-buy" rating in a research report on Wednesday, August 13th. Finally, Truist Financial reduced their price target on shares of Goosehead Insurance from $90.00 to $85.00 and set a "hold" rating for the company in a research report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $107.18.

Goosehead Insurance Stock Performance

GSHD opened at $68.61 on Wednesday. The stock has a market capitalization of $2.58 billion, a P/E ratio of 60.72, a P/E/G ratio of 5.81 and a beta of 1.27. The company's 50-day simple moving average is $81.81 and its two-hundred day simple moving average is $96.98. Goosehead Insurance has a 52-week low of $66.07 and a 52-week high of $130.39.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $94.03 million for the quarter, compared to the consensus estimate of $94.18 million. Goosehead Insurance had a net margin of 8.76% and a negative return on equity of 59.49%. Goosehead Insurance's revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 EPS. Goosehead Insurance has set its FY 2025 guidance at EPS. Research analysts forecast that Goosehead Insurance will post 0.83 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder & Robyn Jones Descendants Mark sold 60,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $88.23, for a total transaction of $5,293,800.00. Following the completion of the transaction, the insider directly owned 132,349 shares in the company, valued at approximately $11,677,152.27. This represents a 31.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Adrienne Kebodeaux sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $86.30, for a total value of $258,900.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 244,770 shares of company stock worth $21,568,721. 48.35% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Caxton Associates LLP bought a new position in shares of Goosehead Insurance during the 2nd quarter valued at approximately $2,140,000. Public Sector Pension Investment Board lifted its position in Goosehead Insurance by 10.5% in the second quarter. Public Sector Pension Investment Board now owns 85,443 shares of the company's stock worth $9,015,000 after buying an additional 8,109 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Goosehead Insurance by 5.8% in the second quarter. CANADA LIFE ASSURANCE Co now owns 26,643 shares of the company's stock worth $2,812,000 after buying an additional 1,450 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Goosehead Insurance by 114.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,054 shares of the company's stock worth $217,000 after buying an additional 1,097 shares during the last quarter. Finally, Ewing Morris & Co. Investment Partners Ltd. lifted its position in Goosehead Insurance by 18.4% in the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 64,396 shares of the company's stock worth $6,794,000 after buying an additional 10,000 shares during the last quarter.

About Goosehead Insurance

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that engages in the provision of personal lines insurance agency services in the United States. The company offers homeowner's, automotive, dwelling property, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services.

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