Goosehead Insurance (NASDAQ:GSHD) Posts Earnings Results, Beats Estimates By $0.10 EPS

Goosehead Insurance (NASDAQ:GSHD) announced its earnings results on Tuesday. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.54 by $0.10, FiscalAI reports. The company had revenue of $78.20 million for the quarter, compared to analyst estimates of $99.67 million. Goosehead Insurance had a negative return on equity of 34.60% and a net margin of 8.55%.

Goosehead Insurance Stock Up 4.0%

GSHD traded up $1.94 on Tuesday, hitting $50.63. The company’s stock had a trading volume of 873,467 shares, compared to its average volume of 393,989. Goosehead Insurance has a 12 month low of $46.80 and a 12 month high of $127.99. The firm has a market cap of $1.87 billion, a P/E ratio of 44.81, a price-to-earnings-growth ratio of 6.16 and a beta of 1.55. The company’s 50 day simple moving average is $68.66 and its 200-day simple moving average is $73.60.

Insider Activity at Goosehead Insurance

In related news, CEO Mark Miller bought 5,000 shares of Goosehead Insurance stock in a transaction on Friday, November 28th. The stock was acquired at an average price of $72.34 per share, with a total value of $361,700.00. Following the acquisition, the chief executive officer directly owned 35,000 shares of the company’s stock, valued at $2,531,900. This represents a 16.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Mcconnon sold 69,686 shares of the stock in a transaction dated 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. The trade was a 20.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 37.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

A number of large investors have recently added to or reduced their stakes in the company. Man Group plc increased its position in shares of Goosehead Insurance by 8.6% in the third quarter. Man Group plc now owns 24,454 shares of the company’s stock valued at $1,820,000 after acquiring an additional 1,937 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Goosehead Insurance by 3.3% during the fourth quarter. California State Teachers Retirement System now owns 24,279 shares of the company’s stock worth $1,788,000 after purchasing an additional 775 shares during the period. Voleon Capital Management LP purchased a new position in Goosehead Insurance during the 3rd quarter valued at about $1,154,000. New York State Common Retirement Fund raised its position in Goosehead Insurance by 82.0% during the 4th quarter. New York State Common Retirement Fund now owns 15,077 shares of the company’s stock valued at $1,110,000 after purchasing an additional 6,795 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in Goosehead Insurance in the 4th quarter worth approximately $631,000.

Analyst Ratings Changes

GSHD has been the subject of a number of research reports. Truist Financial reduced their price target on shares of Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Goosehead Insurance in a report on Wednesday, January 28th. Citigroup reissued a “market outperform” rating on shares of Goosehead Insurance in a research report on Friday, January 16th. Wall Street Zen raised shares of Goosehead Insurance from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Keefe, Bruyette & Woods reduced their target price on Goosehead Insurance from $102.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $90.30.

About Goosehead Insurance

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.