Goosehead Insurance (NASDAQ:GSHD) Reaches New 12-Month Low - Here's What Happened

Key Points

• Goosehead Insurance's stock reached a new 52-week low at $79.62, amid trading volume of 40,113 shares.
• Analyst ratings are mixed, with one "Strong Buy," four "Buy," six "Hold," and one "Sell," while the average target price is $109.36.
• The company reported a quarterly EPS of $0.49, missing estimates, with revenue increasing by 20.4% year-over-year but still falling short of expectations.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report)'s stock price hit a new 52-week low on Wednesday . The stock traded as low as $79.62 and last traded at $79.94, with a volume of 40113 shares traded. The stock had previously closed at $80.62.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GSHD. UBS Group dropped their target price on Goosehead Insurance from $140.00 to $136.00 and set a "buy" rating for the company in a report on Monday, July 28th. Zacks Research raised Goosehead Insurance from a "strong sell" rating to a "hold" rating in a report on Monday, August 25th. Keefe, Bruyette & Woods dropped their target price on Goosehead Insurance from $130.00 to $120.00 and set an "outperform" rating for the company in a report on Thursday, July 24th. BMO Capital Markets dropped their target price on Goosehead Insurance from $142.00 to $110.00 and set a "market perform" rating for the company in a report on Friday, July 25th. Finally, Piper Sandler reduced their target price on Goosehead Insurance from $109.00 to $92.00 and set a "neutral" rating on the stock in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $109.36.

Goosehead Insurance Price Performance

The company's fifty day moving average is $89.62 and its two-hundred day moving average is $102.04. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 70.47, a price-to-earnings-growth ratio of 6.90 and a beta of 1.34. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 2.10.

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

Insider Activity at Goosehead Insurance

In other news, CFO Mark E. Jr. Jones acquired 1,149 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average price of $86.08 per share, for a total transaction of $98,905.92. Following the completion of the acquisition, the chief financial officer owned 3,491 shares in the company, valued at $300,505.28. This trade represents a 49.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Adrienne Kebodeaux sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $86.30, for a total transaction of $258,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 244,770 shares of company stock worth $21,568,721. 37.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Goosehead Insurance

A number of large investors have recently bought and sold shares of the company. Wasatch Advisors LP boosted its position in Goosehead Insurance by 12.6% during the 2nd quarter. Wasatch Advisors LP now owns 2,275,369 shares of the company's stock worth $240,074,000 after acquiring an additional 253,777 shares during the last quarter. State Street Corp boosted its position in Goosehead Insurance by 1.4% during the 2nd quarter. State Street Corp now owns 1,027,500 shares of the company's stock worth $108,412,000 after acquiring an additional 14,311 shares during the last quarter. Geode Capital Management LLC boosted its position in Goosehead Insurance by 25.4% during the 2nd quarter. Geode Capital Management LLC now owns 705,284 shares of the company's stock worth $74,422,000 after acquiring an additional 143,038 shares during the last quarter. Durable Capital Partners LP acquired a new position in Goosehead Insurance during the 2nd quarter worth approximately $71,832,000. Finally, Balyasny Asset Management L.P. boosted its position in Goosehead Insurance by 118.7% during the 2nd quarter. Balyasny Asset Management L.P. now owns 556,760 shares of the company's stock worth $58,744,000 after acquiring an additional 302,130 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.