Goosehead Insurance (NASDAQ:GSHD) Issues Earnings Results

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

Goosehead Insurance Price Performance

GSHD stock traded up $12.10 on Thursday, reaching $108.13. 642,961 shares of the company’s stock were exchanged, compared to its average volume of 293,265. The stock has a fifty day moving average of $88.55 and a 200-day moving average of $72.76. Goosehead Insurance has a twelve month low of $50.47 and a twelve month high of $108.16. The firm has a market cap of $4.11 billion, a PE ratio of 174.40, a P/E/G ratio of 4.72 and a beta of 1.35. The company has a quick ratio of 1.14, a current ratio of 1.13 and a debt-to-equity ratio of 2.31.

Insider Buying and Selling

In related news, Chairman Mark Evan Jones sold 10,418 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $85.88, for a total transaction of $894,697.84. Following the transaction, the chairman now owns 39,451 shares of the company’s stock, valued at $3,388,051.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Goosehead Insurance news, Chairman Mark Evan Jones sold 10,418 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $85.88, for a total value of $894,697.84. Following the sale, the chairman now owns 39,451 shares of the company’s stock, valued at approximately $3,388,051.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Patrick Ryan Langston sold 4,814 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $90.26, for a total value of $434,511.64. Following the completion of the sale, the insider now directly owns 5,000 shares in the company, valued at $451,300. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,798 shares of company stock valued at $6,310,613 over the last quarter. Company insiders own 48.35% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GSHD. BMO Capital Markets cut Goosehead Insurance from an “outperform” rating to a “market perform” rating and set a $90.00 price target for the company. in a research note on Thursday, August 22nd. Piper Sandler upped their price target on Goosehead Insurance from $94.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $84.00 price target (down previously from $85.00) on shares of Goosehead Insurance in a research note on Friday, July 26th. JPMorgan Chase & Co. upped their price target on Goosehead Insurance from $65.00 to $77.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, TD Cowen cut Goosehead Insurance from a “buy” rating to a “hold” rating and cut their price target for the stock from $98.00 to $94.00 in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $89.40.

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.