Goosehead Insurance (NASDAQ:GSHD) Reaches New 52-Week Low - Here's What Happened

Key Points

• Goosehead Insurance (NASDAQ:GSHD) shares hit a new 52-week low of $68.73, representing a significant drop from its previous close of $72.20.
• Analysts have adjusted their ratings for Goosehead Insurance, with Piper Sandler lowering their price target from $92.00 to $79.00 and a consensus target price set at $107.73.
• Goosehead Insurance reported earnings per share (EPS) of $0.49 for the last quarter, missing estimates, despite a 20.4% year-over-year revenue increase.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) shares hit a new 52-week low on Monday . The stock traded as low as $68.79 and last traded at $68.73, with a volume of 182688 shares changing hands. The stock had previously closed at $72.20.

Analyst Ratings Changes

GSHD has been the topic of a number of research reports. Piper Sandler decreased their price objective on Goosehead Insurance from $92.00 to $79.00 and set a "neutral" rating on the stock in a report on Monday. Truist Financial reduced their target price on shares of Goosehead Insurance from $90.00 to $85.00 and set a "hold" rating on the stock in a research report on Tuesday, September 23rd. UBS Group decreased their target price on shares of Goosehead Insurance from $140.00 to $136.00 and set a "buy" rating for the company in a report on Monday, July 28th. Cantor Fitzgerald raised Goosehead Insurance to a "strong-buy" rating in a report on Wednesday, August 13th. Finally, Zacks Research upgraded Goosehead Insurance from a "strong sell" rating to a "hold" rating in a report on Monday, August 25th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $107.73.

Goosehead Insurance Stock Down 7.5%

The firm's fifty day moving average price is $82.65 and its 200 day moving average price is $97.39. The stock has a market cap of $2.51 billion, a PE ratio of 59.12, a P/E/G ratio of 6.18 and a beta of 1.27.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $94.03 million during the quarter, compared to the consensus estimate of $94.18 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The business's revenue was up 20.4% on a year-over-year basis. Goosehead Insurance has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Goosehead Insurance will post 0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Goosehead Insurance news, major shareholder & Robyn Jones Descendants Mark sold 600 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $87.01, for a total value of $52,206.00. Following the completion of the sale, the insider owned 132,349 shares of the company's stock, valued at $11,515,686.49. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Adrienne Kebodeaux sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was 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. Over the last 90 days, insiders have sold 244,770 shares of company stock worth $21,568,721. Company insiders own 37.76% of the company's stock.

Hedge Funds Weigh In On Goosehead Insurance

A number of hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its stake in shares of Goosehead Insurance by 192.9% during the first quarter. Bessemer Group Inc. now owns 290 shares of the company's stock valued at $34,000 after buying an additional 191 shares during the period. 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. TCTC Holdings LLC lifted its holdings in shares of Goosehead Insurance by 117.1% during the first quarter. TCTC Holdings LLC now owns 330 shares of the company's stock worth $39,000 after purchasing an additional 178 shares during the period. Larson Financial Group LLC boosted its position in Goosehead Insurance by 1,251.6% in the first quarter. Larson Financial Group LLC now owns 419 shares of the company's stock valued at $49,000 after buying an additional 388 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Goosehead Insurance by 802.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company's stock worth $47,000 after buying an additional 393 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.

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