Goosehead Insurance (NASDAQ:GSHD) Reaches New 52-Week Low Following Analyst Downgrade

Goosehead Insurance, Inc (NASDAQ:GSHD - Get Free Report) reached a new 52-week low during trading on Thursday after Truist Financial lowered their price target on the stock from $70.00 to $60.00. Truist Financial currently has a hold rating on the stock. Goosehead Insurance traded as low as $50.47 and last traded at $53.17, with a volume of 238321 shares. The stock had previously closed at $60.20.

A number of other brokerages also recently weighed in on GSHD. BMO Capital Markets dropped their price objective on Goosehead Insurance from $95.00 to $90.00 and set an "outperform" rating on the stock in a research report on Thursday, March 28th. Keefe, Bruyette & Woods lowered their price target on Goosehead Insurance from $93.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday. JPMorgan Chase & Co. lowered their price target on Goosehead Insurance from $62.00 to $59.00 and set a "neutral" rating for the company in a report on Thursday. Piper Sandler lowered their price target on Goosehead Insurance from $88.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday. Finally, Royal Bank of Canada reduced their price objective on Goosehead Insurance from $88.00 to $80.00 and set an "outperform" rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.89.

Insiders Place Their Bets

In other news, major shareholder & Robyn Jones Descendants Mark sold 3,934 shares of the company's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $75.67, for a total transaction of $297,685.78. Following the completion of the transaction, the insider now directly owns 132,349 shares of the company's stock, valued at approximately $10,014,848.83. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Mark E. Jr. Jones acquired 1,332 shares of the firm's stock in a transaction on Monday, February 26th. The stock was bought at an average cost of $74.86 per share, with a total value of $99,713.52. Following the transaction, the chief financial officer now owns 1,332 shares of the company's stock, valued at $99,713.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 3,934 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $75.67, for a total value of $297,685.78. Following the transaction, the insider now directly owns 132,349 shares of the company's stock, valued at $10,014,848.83. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 7,582 shares of company stock worth $561,249 and have sold 68,617 shares worth $5,291,137. 38.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Goosehead Insurance

Large investors have recently modified their holdings of the business. USA Financial Formulas raised its stake in shares of Goosehead Insurance by 5,350.0% during the 4th quarter. USA Financial Formulas now owns 327 shares of the company's stock worth $25,000 after buying an additional 321 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Goosehead Insurance in the 4th quarter valued at approximately $35,000. Harvest Fund Management Co. Ltd purchased a new position in Goosehead Insurance in the 3rd quarter valued at approximately $37,000. CENTRAL TRUST Co purchased a new position in Goosehead Insurance in the 1st quarter valued at approximately $67,000. Finally, Signaturefd LLC increased its stake in Goosehead Insurance by 28.9% in the 3rd quarter. Signaturefd LLC now owns 1,116 shares of the company's stock valued at $83,000 after purchasing an additional 250 shares in the last quarter.

Goosehead Insurance Stock Down 11.7 %

The stock has a market capitalization of $2.02 billion, a PE ratio of 93.26, a P/E/G ratio of 4.31 and a beta of 1.28. The firm has a 50 day moving average of $70.38 and a two-hundred day moving average of $72.67. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 4.02.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.05. The firm had revenue of $64.46 million for the quarter, compared to analysts' expectations of $66.24 million. Goosehead Insurance had a negative return on equity of 392.58% and a net margin of 5.41%. Equities research analysts anticipate that Goosehead Insurance, Inc will post 0.8 earnings per share for the current year.

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.