Goosehead Insurance (NASDAQ:GSHD) Stock Gets Price Target Trim from Truist Financial

Goosehead Insurance (NASDAQ:GSHD) had its price target trimmed by Truist Financial from $58.00 to $48.00 in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a hold rating on the stock.

GSHD has been the subject of a number of other research reports. UBS Group raised their target price on shares of Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Piper Sandler downgraded Goosehead Insurance from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $72.00 to $48.00 in a research note on Tuesday, October 6th. Citigroup reaffirmed a “market outperform” rating on shares of Goosehead Insurance in a research report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and set a $76.00 price objective on shares of Goosehead Insurance in a research note on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods dropped their target price on Goosehead Insurance from $72.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $64.42.

Goosehead Insurance Trading Up 2.2%

GSHD opened at $45.60 on Tuesday. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 1.68 and a beta of 1.46. The stock has a fifty day simple moving average of $57.40 and a two-hundred day simple moving average of $50.08. Goosehead Insurance has a 12-month low of $33.68 and a 12-month high of $79.85.

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

Insider Transactions at Goosehead Insurance

In other news, major shareholder Durable Capital Partners Lp acquired 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was bought at an average price of $47.32 per share, with a total value of $7,098,000.00. Following the completion of the acquisition, the insider directly owned 2,720,260 shares of the company’s stock, valued at approximately $128,722,703.20. The trade was a 5.84% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 125,000 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $69.71, for a total value of $8,713,750.00. Following the sale, the insider owned 6,870,180 shares of the company’s stock, valued at approximately $478,920,247.80. This represents a 1.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have bought 339,979 shares of company stock valued at $18,446,632 and have sold 267,000 shares valued at $18,056,139. Insiders own 38.07% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Contravisory Investment Management Inc. purchased a new position in Goosehead Insurance during the third quarter valued at $233,000. GAMMA Investing LLC increased its position in Goosehead Insurance by 37.6% in 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 in the last quarter. Versant Capital Management Inc increased its position in Goosehead Insurance by 36.9% in the third quarter. Versant Capital Management Inc now owns 1,057 shares of the company’s stock worth $48,000 after buying an additional 285 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Goosehead Insurance in the second quarter worth about $48,000. Finally, 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 worth $366,000 after buying an additional 1,016 shares during the period.

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.