JPMorgan Chase & Co. Cuts Goosehead Insurance (NASDAQ:GSHD) Price Target to $60.00

Goosehead Insurance (NASDAQ:GSHD) had its price target trimmed by JPMorgan Chase & Co. from $68.00 to $60.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms also recently issued reports on GSHD. Keefe, Bruyette & Woods decreased their price objective on shares of Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Weiss Ratings cut Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 18th. Royal Bank Of Canada boosted their price objective on Goosehead Insurance from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd. Piper Sandler raised their target price on Goosehead Insurance from $52.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $76.00 price target on shares of Goosehead Insurance in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.45.

Goosehead Insurance Trading Down 3.5%

Shares of GSHD opened at $45.51 on Thursday. The firm has a market cap of $1.62 billion, a P/E ratio of 33.22, a PEG ratio of 1.62 and a beta of 1.46. Goosehead Insurance has a 12 month low of $33.68 and a 12 month high of $79.85. The stock’s 50 day moving average is $61.29 and its two-hundred day moving average is $49.93.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share (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 firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 EPS. Equities research analysts forecast that Goosehead Insurance will post 1.46 EPS for the current year.

Insider Buying and Selling at Goosehead Insurance

In other news, major shareholder Adrienne Kebodeaux sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $70.00, for a total transaction of $490,000.00. Following the transaction, the insider directly owned 273,027 shares in the company, valued at $19,111,890. The trade was a 2.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Durable Capital Partners Lp purchased 150,000 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 2,720,260 shares of the company’s stock, valued at approximately $128,722,703.20. This represents a 5.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 339,979 shares of company stock worth $18,446,632 and 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

Institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc increased its position in shares of Goosehead Insurance by 36.9% in the 3rd quarter. Versant Capital Management Inc now owns 1,057 shares of the company’s stock valued at $48,000 after purchasing an additional 285 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Goosehead Insurance by 484.1% in the 2nd 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 in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Goosehead Insurance by 12.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 6,500 shares of the company’s stock worth $315,000 after purchasing an additional 700 shares during the last quarter. WINTON GROUP Ltd lifted its position in shares of Goosehead Insurance by 7.1% during the 4th quarter. WINTON GROUP Ltd now owns 15,103 shares of the company’s stock worth $1,112,000 after purchasing an additional 997 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Goosehead Insurance during the second quarter worth $48,000.

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.