Goosehead Insurance (NASDAQ:GSHD) Stock Gets Price Target Cut from Citizens Jmp

Goosehead Insurance (NASDAQ:GSHD) had its target price decreased by Citizens Jmp from $100.00 to $80.00 in a research note published on Monday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

Several other research analysts have also commented on GSHD. UBS Group lifted their price target 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. JPMorgan Chase & Co. dropped their price objective on shares of Goosehead Insurance from $68.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, October 1st. 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. Citigroup reissued a “market outperform” rating on shares of Goosehead Insurance in a report on Monday. Finally, Weiss Ratings cut shares of Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $64.42.

Goosehead Insurance Price Performance

Goosehead Insurance stock opened at $44.60 on Monday. The company has a market cap of $1.58 billion, a PE ratio of 32.55, a P/E/G ratio of 1.68 and a beta of 1.46. The company has a fifty day moving average price of $57.82 and a two-hundred day moving average price of $50.04. Goosehead Insurance has a 12 month low of $33.68 and a 12 month high of $79.85.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.17. The firm had revenue of $95.63 million during the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.49 earnings per share. Equities research analysts anticipate that Goosehead Insurance will post 1.45 earnings per share for the current year.

Insider Activity

In related news, major shareholder Adrienne Kebodeaux sold 7,000 shares of Goosehead Insurance stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $70.00, for a total value of $490,000.00. Following the sale, the insider directly owned 273,027 shares in the company, valued at $19,111,890. This trade represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 125,000 shares of Goosehead Insurance stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $69.71, for a total transaction of $8,713,750.00. Following the completion of the sale, the insider owned 6,870,180 shares in the company, valued at approximately $478,920,247.80. This represents a 1.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 339,979 shares of company stock worth $18,446,632 and have sold 267,000 shares worth $18,056,139. Insiders own 38.07% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

Hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc boosted its position in Goosehead Insurance by 36.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,057 shares of the company’s stock worth $48,000 after acquiring an additional 285 shares during the period. GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 328 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Goosehead Insurance by 484.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company’s stock worth $25,000 after purchasing an additional 426 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Goosehead Insurance by 12.1% during the second quarter. Handelsbanken Fonder AB now owns 6,500 shares of the company’s stock valued at $315,000 after purchasing an additional 700 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Goosehead Insurance during the second quarter valued at $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.