Goosehead Insurance (NASDAQ:GSHD) Stock Price Target Lowered at Citizens Jmp

Goosehead Insurance (NASDAQ:GSHD) had its price target reduced by Citizens Jmp from $100.00 to $80.00 in a report published on Monday,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other brokerages have also commented on GSHD. Texas Capital raised Goosehead Insurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 29th. Deutsche Bank Aktiengesellschaft set a $80.00 price objective on Goosehead Insurance in a research note on Monday. Keefe, Bruyette & Woods decreased their price objective on Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. UBS Group increased their target price on Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $76.00 target price on shares of Goosehead Insurance in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Goosehead Insurance has an average rating of “Hold” and a consensus target price of $65.25.

Goosehead Insurance Stock Up 1.0%

Shares of GSHD stock opened at $43.96 on Monday. The stock has a market cap of $1.56 billion, a P/E ratio of 32.09, a PEG ratio of 1.56 and a beta of 1.46. Goosehead Insurance has a 52 week low of $33.68 and a 52 week high of $79.85. The company’s fifty day simple moving average is $58.75 and its two-hundred day simple moving average is $50.00.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.17. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%. The firm had revenue of $95.63 million during the quarter, compared to analyst estimates of $103.30 million. During the same quarter last year, the business posted $0.49 earnings per share. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. On average, analysts anticipate that Goosehead Insurance will post 1.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Goosehead Insurance news, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $65.03, for a total transaction of $325,150.00. Following the sale, the insider directly owned 58,530 shares in the company, valued at $3,806,205.90. This represents a 7.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Durable Capital Partners Lp acquired 150,000 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was bought at an average cost of $47.32 per share, with a total value of $7,098,000.00. Following the completion of the purchase, the insider directly owned 2,720,260 shares in the company, valued at approximately $128,722,703.20. The trade was a 5.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 339,979 shares of company stock worth $18,446,632 and have sold 267,000 shares worth $18,056,139. Corporate insiders own 38.07% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Goosehead Insurance by 37.6% during the third quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $54,000 after buying an additional 328 shares during the period. Versant Capital Management Inc increased its position in Goosehead Insurance by 36.9% during the third quarter. Versant Capital Management Inc now owns 1,057 shares of the company’s stock valued at $48,000 after acquiring an additional 285 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Goosehead Insurance in the second quarter valued at $48,000. Baird Financial Group Inc. raised its stake in shares of Goosehead Insurance by 15.6% in the second quarter. Baird Financial Group Inc. now owns 7,541 shares of the company’s stock valued at $366,000 after acquiring an additional 1,016 shares during the period. Finally, Nykredit A S bought a new stake in shares of Goosehead Insurance in the 2nd quarter worth about $50,000.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc is an independent insurance agency and distribution company that helps individuals and businesses shop for insurance coverage from a broad network of insurance carriers. The company uses a technology-enabled platform to provide quoting, policy management and customer service through its corporate operations and franchise network.

Goosehead offers a range of personal and commercial insurance products, including homeowners, automobile, renters, flood, umbrella and life insurance, along with coverage designed for small businesses and other commercial customers.