Goosehead Insurance (NASDAQ:GSHD) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Goosehead Insurance (NASDAQ:GSHD) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

GSHD has been the subject of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Goosehead Insurance in a report on Friday, October 31st. Keefe, Bruyette & Woods cut their price target on Goosehead Insurance from $102.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. Truist Financial reduced their price target on shares of Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, October 23rd. Cantor Fitzgerald dropped their price objective on shares of Goosehead Insurance from $125.00 to $111.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Citigroup restated a “market outperform” rating on shares of Goosehead Insurance in a research report on Friday. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Goosehead Insurance presently has an average rating of “Hold” and an average price target of $90.30.

Goosehead Insurance Stock Down 0.7%

Shares of GSHD stock opened at $71.57 on Friday. The company has a 50 day moving average price of $72.96 and a 200-day moving average price of $79.06. Goosehead Insurance has a 52 week low of $64.40 and a 52 week high of $127.99. The firm has a market capitalization of $2.64 billion, a PE ratio of 63.34, a P/E/G ratio of 9.05 and a beta of 1.53.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). Goosehead Insurance had a net margin of 8.55% and a negative return on equity of 34.60%. The company had revenue of $90.44 million for the quarter, compared to the consensus estimate of $94.25 million. During the same quarter last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Analysts anticipate that Goosehead Insurance will post 0.83 earnings per share for the current year.

Insider Activity

In other news, Director Thomas Mcconnon sold 69,686 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $73.62, for a total value of $5,130,283.32. Following the completion of the sale, the director directly owned 269,322 shares of the company’s stock, valued at $19,827,485.64. This represents a 20.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel John Terry O’connor bought 2,100 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were purchased at an average price of $71.81 per share, for a total transaction of $150,801.00. Following the purchase, the general counsel owned 3,100 shares in the company, valued at $222,611. This represents a 210.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 7,973 shares of company stock valued at $577,487. Company insiders own 48.35% of the company’s stock.

Institutional Trading of Goosehead Insurance

Several institutional investors have recently made changes to their positions in GSHD. Durable Capital Partners LP lifted its holdings in Goosehead Insurance by 126.5% in the 3rd quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company’s stock worth $114,769,000 after purchasing an additional 861,374 shares in the last quarter. Whitebark Investors LP purchased a new stake in Goosehead Insurance during the 3rd quarter valued at approximately $25,229,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Goosehead Insurance during the third quarter valued at approximately $25,222,000. Balyasny Asset Management L.P. raised its position in shares of Goosehead Insurance by 118.7% during the second quarter. Balyasny Asset Management L.P. now owns 556,760 shares of the company’s stock valued at $58,744,000 after buying an additional 302,130 shares during the last quarter. Finally, Wasatch Advisors LP lifted its holdings in shares of Goosehead Insurance by 12.6% in the second quarter. Wasatch Advisors LP now owns 2,275,369 shares of the company’s stock worth $240,074,000 after buying an additional 253,777 shares in the last quarter.

About Goosehead Insurance

Goosehead Insurance (NASDAQ: GSHD) is a technology-driven insurance agency that connects consumers with a broad range of personal and commercial insurance products through an extensive network of independent insurance advisors. The company specializes in homeowners, auto, flood, dwelling fire, umbrella, life, and commercial lines coverage, working with multiple national and regional carriers to offer tailored policies. By combining advanced quoting tools with local market expertise, Goosehead streamlines the insurance shopping process and helps clients find competitive coverage options.

Founded in 2003 and headquartered in Westlake, Texas, Goosehead has grown its footprint across more than 40 states in the U.S.