Goosehead Insurance (NASDAQ:GSHD) Hits New 1-Year Low – Here’s What Happened

Goosehead Insurance (NASDAQ:GSHD)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $59.91 and last traded at $60.17, with a volume of 296603 shares trading hands. The stock had previously closed at $61.84.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GSHD. Wall Street Zen downgraded shares of Goosehead Insurance from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Jefferies Financial Group initiated coverage on Goosehead Insurance in a report on Monday, December 1st. They issued a “buy” rating and a $93.00 price objective for the company. Cantor Fitzgerald reduced their target price on Goosehead Insurance from $125.00 to $111.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. JPMorgan Chase & Co. dropped their price target on Goosehead Insurance from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, January 7th. Finally, Piper Sandler cut their price objective on shares of Goosehead Insurance from $79.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Goosehead Insurance currently has an average rating of “Hold” and a consensus price target of $90.30.

Goosehead Insurance Trading Up 7.7%

The firm has a 50-day moving average of $71.84 and a two-hundred day moving average of $75.88. The firm has a market capitalization of $2.39 billion, a P/E ratio of 57.51, a P/E/G ratio of 7.64 and a beta of 1.54.

Insiders Place Their Bets

In other Goosehead Insurance news, Director Thomas Mcconnon sold 69,686 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $73.62, for a total value of $5,130,283.32. Following the completion of the transaction, the director owned 269,322 shares of the company’s stock, valued at $19,827,485.64. This represents a 20.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel John Terry O’connor bought 2,100 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was purchased at an average price of $71.81 per share, with a total value of $150,801.00. Following the completion of the transaction, the general counsel directly owned 3,100 shares of the company’s stock, valued at approximately $222,611. The trade was a 210.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 48.35% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

A number of institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Goosehead Insurance by 480.4% during 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 period. Northwestern Mutual Wealth Management Co. raised its position in Goosehead Insurance by 802.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock worth $47,000 after purchasing an additional 393 shares during the last quarter. CWM LLC lifted its holdings in Goosehead Insurance by 73.8% during the 2nd quarter. CWM LLC now owns 471 shares of the company’s stock worth $50,000 after buying an additional 200 shares during the period. Fifth Third Bancorp grew its position in shares of Goosehead Insurance by 71.4% in the 3rd quarter. Fifth Third Bancorp now owns 682 shares of the company’s stock valued at $51,000 after buying an additional 284 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Goosehead Insurance by 52.3% in the 3rd quarter. Covestor Ltd now owns 1,177 shares of the company’s stock valued at $88,000 after buying an additional 404 shares during 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.