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

Key Points

• Goosehead Insurance (NASDAQ:GSHD) experienced a new 52-week low in its share price, trading as low as $72.35 before closing at $71.39.
• Analysts have mixed opinions on the stock, with one upgrade to "strong-buy" but several downgrades to price targets, reflecting a current average rating of "Hold."
• This quarter, Goosehead reported a revenue increase of 20.4% year-over-year, but missed EPS estimates by $0.04, posting $0.49 instead of $0.53.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The stock traded as low as $72.35 and last traded at $71.39, with a volume of 39129 shares changing hands. The stock had previously closed at $74.94.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Cantor Fitzgerald upgraded Goosehead Insurance to a "strong-buy" rating in a report on Wednesday, August 13th. Truist Financial lowered their price target on Goosehead Insurance from $90.00 to $85.00 and set a "hold" rating on the stock in a research report on Tuesday, September 23rd. Piper Sandler lowered their price target on Goosehead Insurance from $109.00 to $92.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 2nd. Keefe, Bruyette & Woods reduced their target price on shares of Goosehead Insurance from $130.00 to $120.00 and set an "outperform" rating for the company in a research note on Thursday, July 24th. Finally, Zacks Research upgraded shares of Goosehead Insurance from a "strong sell" rating to a "hold" rating in a research note on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $108.91.

Goosehead Insurance Stock Down 1.4%

The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 65.40, a price-to-earnings-growth ratio of 6.41 and a beta of 1.34. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 2.10. The business's fifty day simple moving average is $85.39 and its 200 day simple moving average is $99.20.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $94.03 million during 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%. The company's revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 earnings per share. Goosehead Insurance has set its FY 2025 guidance at EPS. Equities analysts forecast that Goosehead Insurance will post 0.83 earnings per share for the current fiscal year.

Insider Activity

In other Goosehead Insurance news, major shareholder & Robyn Jones Descendants Mark sold 60,000 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $88.23, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark E. Jr. Jones acquired 1,149 shares of Goosehead Insurance stock in a transaction on Tuesday, July 29th. The shares were purchased at an average price of $86.08 per share, with a total value of $98,905.92. Following the completion of the purchase, the chief financial officer owned 3,491 shares in the company, valued at $300,505.28. This represents a 49.06% increase in their position. The disclosure for this purchase can be found here. Insiders sold 244,770 shares of company stock worth $21,568,721 over the last three months. 37.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Goosehead Insurance

Several hedge funds have recently modified their holdings of the stock. Caxton Associates LLP purchased a new stake in Goosehead Insurance in the second quarter worth about $2,140,000. Public Sector Pension Investment Board increased its holdings in shares of Goosehead Insurance by 10.5% during the second quarter. Public Sector Pension Investment Board now owns 85,443 shares of the company's stock valued at $9,015,000 after acquiring an additional 8,109 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Goosehead Insurance by 5.8% during the second quarter. CANADA LIFE ASSURANCE Co now owns 26,643 shares of the company's stock valued at $2,812,000 after acquiring an additional 1,450 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Goosehead Insurance by 114.6% in the 2nd 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 period. Finally, Ewing Morris & Co. Investment Partners Ltd. increased its holdings in Goosehead Insurance by 18.4% in the 2nd 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 period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.