Goosehead Insurance (NASDAQ:GSHD) Hits New 12-Month Low – What’s Next?

Goosehead Insurance (NASDAQ:GSHD) hit a new 52-week low on Wednesday . The company traded as low as $62.81 and last traded at $63.58, with a volume of 416368 shares. The stock had previously closed at $68.28.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GSHD. Jefferies Financial Group initiated coverage on Goosehead Insurance in a report on Monday, December 1st. They set a “buy” rating and a $93.00 price target on the stock. Cantor Fitzgerald lowered their target price on Goosehead Insurance from $125.00 to $111.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. JPMorgan Chase & Co. cut their price target on shares of Goosehead Insurance from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, January 7th. Truist Financial decreased their price objective on shares of Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, October 23rd. Finally, JMP Securities reduced their target price on shares of Goosehead Insurance from $150.00 to $140.00 and set a “market outperform” rating for the company in a research report on Tuesday, October 14th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $90.30.

Goosehead Insurance Price Performance

The company has a fifty day moving average price of $72.82 and a 200 day moving average price of $77.30. The company has a market cap of $2.34 billion, a PE ratio of 56.27, a price-to-earnings-growth ratio of 8.64 and a beta of 1.53.

Insider Activity at Goosehead Insurance

In other news, Director Thomas Mcconnon sold 69,686 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $73.62, for a total transaction of $5,130,283.32. Following the completion of the transaction, the director directly owned 269,322 shares of the company’s stock, valued at approximately $19,827,485.64. This represents a 20.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Miller bought 5,000 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were purchased at an average price of $72.34 per share, with a total value of $361,700.00. Following the completion of the acquisition, the chief executive officer owned 35,000 shares of the company’s stock, valued at $2,531,900. This trade represents a 16.67% increase in their position. The SEC filing for this purchase provides additional information. 37.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Goosehead Insurance

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised 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 valued at $34,000 after acquiring an additional 269 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Goosehead Insurance by 802.0% in 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 in the last quarter. CWM LLC raised its holdings in Goosehead Insurance by 73.8% in the 2nd quarter. CWM LLC now owns 471 shares of the company’s stock worth $50,000 after purchasing an additional 200 shares in the last quarter. Fifth Third Bancorp lifted 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 worth $51,000 after purchasing an additional 284 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Goosehead Insurance by 41.7% during the 2nd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $92,000 after purchasing an additional 257 shares in 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.