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

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

Goosehead Insurance Stock Up 4.4 %

NASDAQ GSHD traded up $2.34 on Friday, hitting $55.50. 788,743 shares of the stock traded hands, compared to its average volume of 351,810. The stock has a 50-day moving average of $69.62 and a 200 day moving average of $72.53. Goosehead Insurance has a twelve month low of $50.47 and a twelve month high of $92.76. The company has a market capitalization of $2.11 billion, a P/E ratio of 89.52, a price-to-earnings-growth ratio of 3.82 and a beta of 1.28. The company has a current ratio of 1.73, a quick ratio of 1.82 and a debt-to-equity ratio of 2.31.

Insider Buying and Selling at Goosehead Insurance

In related news, General Counsel John Terry O’connor purchased 1,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $73.46 per share, for a total transaction of $73,460.00. Following the transaction, the general counsel now owns 1,000 shares of the company’s stock, valued at $73,460. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, General Counsel John Terry O’connor purchased 1,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $73.46 per share, for a total transaction of $73,460.00. Following the transaction, the general counsel now owns 1,000 shares of the company’s stock, valued at $73,460. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Desiree Coleman sold 2,324 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $80.17, for a total value of $186,315.08. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 7,582 shares of company stock worth $561,249 and have sold 68,617 shares worth $5,291,137. 48.35% of the stock is currently owned by insiders.

Institutional Trading of Goosehead Insurance

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Goosehead Insurance by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 2,369,254 shares of the company’s stock valued at $179,589,000 after acquiring an additional 36,676 shares during the period. Wasatch Advisors LP increased its position in Goosehead Insurance by 17.2% in the 1st quarter. Wasatch Advisors LP now owns 2,101,847 shares of the company’s stock valued at $140,025,000 after acquiring an additional 308,312 shares during the period. Loomis Sayles & Co. L P acquired a new stake in Goosehead Insurance in the 3rd quarter valued at approximately $23,614,000. Dimensional Fund Advisors LP increased its position in Goosehead Insurance by 11.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 308,090 shares of the company’s stock valued at $23,354,000 after acquiring an additional 30,626 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Goosehead Insurance by 14.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 294,977 shares of the company’s stock valued at $22,359,000 after purchasing an additional 37,805 shares in the last quarter.

Analyst Ratings Changes

GSHD has been the subject of a number of analyst reports. TD Cowen initiated coverage on Goosehead Insurance in a report on Wednesday, January 10th. They issued an “outperform” rating and a $105.00 price target for the company. Truist Financial reduced their price target on Goosehead Insurance from $70.00 to $60.00 and set a “hold” rating for the company in a report on Thursday. Keefe, Bruyette & Woods reduced their price target 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 reduced their price target on Goosehead Insurance from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, March 28th. Finally, Royal Bank of Canada reduced their price target on Goosehead Insurance from $88.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.