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

Goosehead Insurance (NASDAQ:GSHD) posted its quarterly earnings data on Wednesday. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05, reports. The business had revenue of $64.46 million for the quarter, compared to the consensus estimate of $66.24 million. Goosehead Insurance had a net margin of 5.99% and a return on equity of 621.70%. Goosehead Insurance updated its FY 2024 guidance to EPS.

Goosehead Insurance Price Performance

Shares of GSHD stock opened at $53.16 on Friday. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.82 and a quick ratio of 1.82. The firm’s 50-day moving average is $70.38 and its two-hundred day moving average is $72.67. Goosehead Insurance has a 12 month low of $50.47 and a 12 month high of $92.76. The company has a market capitalization of $2.02 billion, a PE ratio of 85.74, a price-to-earnings-growth ratio of 4.32 and a beta of 1.28.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue grew its holdings in shares of Goosehead Insurance by 1.1% in the fourth quarter. State of Alaska Department of Revenue now owns 15,041 shares of the company’s stock valued at $1,140,000 after purchasing an additional 161 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Goosehead Insurance by 13.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,394 shares of the company’s stock worth $106,000 after acquiring an additional 165 shares in the last quarter. Janney Capital Management LLC grew its holdings in Goosehead Insurance by 3.2% during the 4th quarter. Janney Capital Management LLC now owns 5,805 shares of the company’s stock worth $440,000 after acquiring an additional 181 shares in the last quarter. Arizona State Retirement System grew its holdings in Goosehead Insurance by 3.6% during the 3rd quarter. Arizona State Retirement System now owns 6,122 shares of the company’s stock worth $456,000 after acquiring an additional 214 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in Goosehead Insurance by 4.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 5,529 shares of the company’s stock worth $419,000 after acquiring an additional 242 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Goosehead Insurance from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Thursday. Royal Bank of Canada decreased their price target on shares of Goosehead Insurance from $88.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday. Truist Financial decreased their price target on shares of Goosehead Insurance from $70.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods decreased their price target on shares of Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, TD Cowen assumed coverage on shares of Goosehead Insurance in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $105.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Goosehead Insurance presently has an average rating of “Moderate Buy” and an average target price of $80.89.

About Goosehead Insurance

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.