Goosehead Insurance (NASDAQ:GSHD – Get Free Report) gapped down prior to trading on Tuesday. The stock had previously closed at $54.69, but opened at $45.66. Goosehead Insurance shares last traded at $46.0260, with a volume of 72,159 shares traded.
Trending Headlines about Goosehead Insurance
Here are a few of the latest headlines about GSHD:
- Positive Sentiment: Piper Sandler raised its price target from $48 to $56, while keeping a neutral rating. The higher target offers a more constructive valuation view, though the neutral recommendation signals caution. Piper Sandler ratings
- Negative Sentiment: The company’s disclosure that financial statements going back to 2023 require restatement raises uncertainty about the reliability of past results and could undermine investor confidence. Restatement investigation announcement
- Negative Sentiment: Multiple law firms have announced investigations into potential securities-law violations or other claims related to Goosehead’s disclosures. These are allegations and investigations, not findings, but add legal and reputational risk. Kirby McInerney investigation notice
Wall Street Analysts Forecast Growth
A number of research analysts have commented on GSHD shares. Citigroup restated a “market outperform” rating on shares of Goosehead Insurance in a research note on Monday, October 12th. Zacks Research downgraded Goosehead Insurance from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 22nd. Royal Bank Of Canada lifted their price target on Goosehead Insurance from $55.00 to $58.00 and gave the company a “sector perform” rating in a report on Thursday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $76.00 price target on shares of Goosehead Insurance in a research note on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods lowered their price target on Goosehead Insurance from $72.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Goosehead Insurance has a consensus rating of “Hold” and a consensus target price of $65.08.
View Our Latest Report on GSHD
Goosehead Insurance Stock Performance
The firm’s 50 day moving average is $50.25 and its 200-day moving average is $50.30. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 33.69, a price-to-earnings-growth ratio of 1.74 and a beta of 1.51.
Insider Activity
In related 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 shares were acquired at an average cost of $47.32 per share, with a total value of $7,098,000.00. Following the purchase, the insider 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $490,000.00. Following the completion of the sale, the insider owned 273,027 shares of the company’s stock, valued at approximately $19,111,890. This trade represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 38.07% of the company’s stock.
Institutional Trading of Goosehead Insurance
A number of institutional investors and hedge funds have recently modified their holdings of GSHD. Integrity Alliance LLC. acquired a new position in Goosehead Insurance in the 3rd quarter valued at $1,075,000. Principal Financial Group Inc. lifted its position in Goosehead Insurance by 23.2% during the 1st quarter. Principal Financial Group Inc. now owns 219,745 shares of the company’s stock worth $9,374,000 after acquiring an additional 41,334 shares during the last quarter. Corient Private Wealth LP lifted its position in Goosehead Insurance by 123.7% during the 2nd quarter. Corient Private Wealth LP now owns 56,935 shares of the company’s stock worth $2,761,000 after acquiring an additional 31,483 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Goosehead Insurance by 3,485.1% during the first quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock valued at $16,506,000 after acquiring an additional 376,114 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Goosehead Insurance by 28.2% during the first quarter. Bank of America Corp DE now owns 329,333 shares of the company’s stock valued at $14,049,000 after acquiring an additional 72,527 shares during the period.
Goosehead Insurance Company Profile
Goosehead Insurance is an independent insurance agency that distributes personal insurance products through a network of company-operated and franchised locations. The company works with multiple insurance carriers, helping customers compare coverage options and obtain policies. Its offerings include homeowners, automobile, flood, umbrella and other personal insurance products. Goosehead also provides technology and support services to its agents, including tools for quoting, policy management and customer service.
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