Goosehead Insurance (NASDAQ:GSHD) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Goosehead Insurance (NASDAQ:GSHD) released its quarterly earnings data on Wednesday. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05, reports. The firm had revenue of $64.46 million during the quarter, compared to the consensus estimate of $66.24 million. Goosehead Insurance had a return on equity of 202.00% and a net margin of 5.99%. Goosehead Insurance updated its FY 2024 guidance to EPS.

Goosehead Insurance Stock Up 4.4 %

Goosehead Insurance stock traded up $2.34 during trading hours on Friday, reaching $55.50. The stock had a trading volume of 788,743 shares, compared to its average volume of 351,810. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 89.52, a PEG ratio of 3.82 and a beta of 1.28. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.73 and a quick ratio of 1.82. The business’s 50 day moving average price is $69.62 and its 200-day moving average price is $72.53. Goosehead Insurance has a 52 week low of $50.47 and a 52 week high of $92.76.

Insider Activity

In other news, major shareholder Desiree Coleman sold 8,952 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $80.05, for a total transaction of $716,607.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder & Robyn Jones Descendants Mark sold 3,934 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $75.67, for a total value of $297,685.78. Following the sale, the insider now owns 132,349 shares in the company, valued at $10,014,848.83. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Desiree Coleman sold 8,952 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $80.05, for a total value of $716,607.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 7,582 shares of company stock worth $561,249 and have sold 68,617 shares worth $5,291,137. Corporate insiders own 48.35% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

Several hedge funds have recently bought and sold shares of GSHD. SG Americas Securities LLC purchased a new stake in Goosehead Insurance in the 3rd quarter worth approximately $494,000. State of Alaska Department of Revenue purchased a new stake in Goosehead Insurance in the 3rd quarter worth approximately $1,109,000. Everence Capital Management Inc. purchased a new stake in Goosehead Insurance in the 3rd quarter worth approximately $229,000. Maryland State Retirement & Pension System purchased a new stake in Goosehead Insurance in the 3rd quarter worth approximately $656,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Goosehead Insurance in the 3rd quarter worth approximately $1,048,000.

Analyst Ratings Changes

Several analysts recently weighed in on GSHD shares. JMP Securities restated a “market outperform” rating and issued a $100.00 price objective on shares of Goosehead Insurance in a report on Monday, April 15th. Keefe, Bruyette & Woods decreased their price objective on Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday. BMO Capital Markets decreased their price objective on Goosehead Insurance from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, March 28th. Piper Sandler decreased their price objective on Goosehead Insurance from $88.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. reduced their target price on shares of Goosehead Insurance from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Thursday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.89.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that engages in the provision of personal lines insurance agency services in the United States. The company offers homeowner's, automotive, dwelling property, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services.