Goosehead Insurance (NASDAQ:GSHD) Stock Price Target Lowered at Keefe, Bruyette & Woods

Goosehead Insurance (NASDAQ:GSHD) had its price objective cut by Keefe, Bruyette & Woods from $72.00 to $66.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 50.28% from the stock’s previous close.

A number of other analysts also recently commented on the stock. UBS Group increased their price objective on shares of Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 27th. Piper Sandler downgraded Goosehead Insurance from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $72.00 to $48.00 in a research report on Tuesday, October 6th. Weiss Ratings cut Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 18th. Citizens Jmp cut their price objective on Goosehead Insurance from $100.00 to $80.00 and set a “market outperform” rating for the company in a research report on Monday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $76.00 price target on shares of Goosehead Insurance in a research report on Thursday, July 23rd. One 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. Based on data from MarketBeat, Goosehead Insurance currently has an average rating of “Hold” and an average price target of $65.25.

Goosehead Insurance Stock Performance

Shares of NASDAQ:GSHD traded up $0.41 during midday trading on Monday, reaching $43.92. 85,300 shares of the company’s stock traded hands, compared to its average volume of 488,795. The company has a market cap of $1.56 billion, a P/E ratio of 32.05, a PEG ratio of 1.56 and a beta of 1.46. The company has a fifty day simple moving average of $59.18 and a two-hundred day simple moving average of $49.99. Goosehead Insurance has a 1 year low of $33.68 and a 1 year high of $79.85.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.17. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The business had revenue of $95.63 million during the quarter, compared to analysts’ expectations of $103.30 million. During the same quarter in the previous year, the company earned $0.49 earnings per share. The company’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, research analysts forecast that Goosehead Insurance will post 1.45 EPS for the current fiscal year.

Insider Activity at Goosehead Insurance

In related news, major shareholder Adrienne Kebodeaux sold 7,000 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $70.00, for a total value of $490,000.00. Following the completion of the sale, the insider owned 273,027 shares in the company, valued at $19,111,890. This represents a 2.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of Goosehead Insurance stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $65.03, for a total transaction of $325,150.00. Following the completion of the transaction, the insider owned 58,530 shares in the company, valued at approximately $3,806,205.90. This represents a 7.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 339,979 shares of company stock worth $18,446,632 and have sold 267,000 shares worth $18,056,139. 38.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GSHD. MassMutual Private Wealth & Trust FSB grew its holdings in Goosehead Insurance by 484.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company’s stock valued at $25,000 after purchasing an additional 426 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Goosehead Insurance by 471.9% in the second quarter. Versant Capital Management Inc now owns 772 shares of the company’s stock valued at $37,000 after acquiring an additional 637 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Goosehead Insurance during the second quarter valued at $48,000. Nykredit A S purchased a new stake in Goosehead Insurance during the 2nd quarter worth about $50,000. Finally, GAMMA Investing LLC raised its stake in Goosehead Insurance by 37.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock valued at $54,000 after purchasing an additional 328 shares during the last quarter.

About Goosehead Insurance

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.