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

Goosehead Insurance (NASDAQ:GSHD) posted its quarterly earnings data on Wednesday. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.45 by $0.05, Briefing.com reports. The firm had revenue of $78.04 million during the quarter, compared to analyst estimates of $80.54 million. Goosehead Insurance had a net margin of 6.71% and a return on equity of 244.15%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. Goosehead Insurance updated its FY 2024 guidance to EPS.

Goosehead Insurance Price Performance

Shares of NASDAQ:GSHD traded up $0.46 on Friday, hitting $108.59. The company’s stock had a trading volume of 387,995 shares, compared to its average volume of 246,682. The company has a market capitalization of $4.01 billion, a PE ratio of 152.94, a PEG ratio of 5.00 and a beta of 1.35. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.13 and a quick ratio of 1.14. The company has a 50-day simple moving average of $89.01 and a 200 day simple moving average of $73.10. Goosehead Insurance has a 1 year low of $50.47 and a 1 year high of $109.95.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GSHD shares. Truist Financial increased their target price on shares of Goosehead Insurance from $65.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, October 4th. BMO Capital Markets downgraded shares of Goosehead Insurance from an “outperform” rating to a “market perform” rating and set a $90.00 price objective on the stock. in a report on Thursday, August 22nd. UBS Group lifted their target price on shares of Goosehead Insurance from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. TD Cowen downgraded shares of Goosehead Insurance from a “buy” rating to a “hold” rating and cut their price objective for the stock from $98.00 to $94.00 in a report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $84.00 target price (down previously from $85.00) on shares of Goosehead Insurance in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $89.40.

Insider Transactions at Goosehead Insurance

In related news, Chairman Mark Evan Jones sold 10,418 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $85.88, for a total value of $894,697.84. Following the sale, the chairman now directly owns 39,451 shares of the company’s stock, valued at $3,388,051.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Goosehead Insurance news, Chairman Mark Evan Jones sold 10,418 shares of Goosehead Insurance stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $85.88, for a total transaction of $894,697.84. Following the transaction, the chairman now directly owns 39,451 shares of the company’s stock, valued at approximately $3,388,051.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Patrick Ryan Langston sold 7,674 shares of Goosehead Insurance stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $85.19, for a total value of $653,748.06. Following the completion of the transaction, the insider now owns 5,000 shares in the company, valued at approximately $425,950. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,798 shares of company stock valued at $6,310,613. 48.35% of the stock is owned by corporate insiders.

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.