Wall Street Zen Upgrades Goosehead Insurance (NASDAQ:GSHD) to “Hold”

by · The Markets Daily

Goosehead Insurance (NASDAQ:GSHD – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Goosehead Insurance from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods reduced their price target on shares of Goosehead Insurance from $102.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. BMO Capital Markets decreased their price target on shares of Goosehead Insurance from $110.00 to $79.00 and set a “market perform” rating for the company in a research note on Tuesday, November 25th. JMP Securities cut their price objective on shares of Goosehead Insurance from $150.00 to $140.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 14th. Finally, Jefferies Financial Group initiated coverage on Goosehead Insurance in a research note on Monday, December 1st. They issued a “buy” rating and a $93.00 target price for the company. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Goosehead Insurance currently has an average rating of “Hold” and an average target price of $90.30.

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Goosehead Insurance Stock Performance

Shares of GSHD opened at $66.17 on Friday. The stock has a 50 day simple moving average of $71.58 and a 200 day simple moving average of $75.18. Goosehead Insurance has a 52-week low of $59.53 and a 52-week high of $127.99. The firm has a market capitalization of $2.44 billion, a PE ratio of 58.56, a P/E/G ratio of 8.37 and a beta of 1.54.

Insider Activity at Goosehead Insurance

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Durable Capital Partners LP lifted its holdings in Goosehead Insurance by 126.5% in the 3rd quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company’s stock worth $114,769,000 after buying an additional 861,374 shares during the period. Whitebark Investors LP bought a new position in shares of Goosehead Insurance during the third quarter valued at approximately $25,229,000. Jacobs Levy Equity Management Inc. purchased a new stake in Goosehead Insurance in the third quarter worth $25,222,000. Balyasny Asset Management L.P. boosted its holdings in Goosehead Insurance by 118.7% in the second quarter. Balyasny Asset Management L.P. now owns 556,760 shares of the company’s stock valued at $58,744,000 after acquiring an additional 302,130 shares in the last quarter. Finally, Wasatch Advisors LP boosted its holdings in Goosehead Insurance by 12.6% in the second quarter. Wasatch Advisors LP now owns 2,275,369 shares of the company’s stock valued at $240,074,000 after acquiring an additional 253,777 shares in the last quarter.

Goosehead Insurance Company Profile

(Get Free Report)

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.

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