Goosehead Insurance (NASDAQ:GSHD) Issues Earnings Results, Beats Expectations By $0.10 EPS

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

Goosehead Insurance Price Performance

Goosehead Insurance stock traded up $1.94 during mid-day trading on Tuesday, reaching $50.63. The stock had a trading volume of 873,467 shares, compared to its average volume of 393,989. Goosehead Insurance has a one year low of $46.80 and a one year high of $127.99. The company has a 50-day moving average price of $68.66 and a two-hundred day moving average price of $73.60. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 44.81, a PEG ratio of 6.16 and a beta of 1.55.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler reduced their price target on shares of Goosehead Insurance from $79.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Truist Financial cut their price objective on Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating on the stock in a research report on Thursday, October 23rd. JPMorgan Chase & Co. reduced their target price on Goosehead Insurance from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, January 7th. Wall Street Zen upgraded Goosehead Insurance from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Goosehead Insurance in a research note on Friday, January 16th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Goosehead Insurance currently has a consensus rating of “Hold” and an average price target of $90.30.

Insiders Place Their Bets

In other news, CEO Mark Miller bought 5,000 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were purchased at an average price of $72.34 per share, for a total transaction of $361,700.00. Following the completion of the purchase, the chief executive officer owned 35,000 shares in the company, valued at approximately $2,531,900. This represents a 16.67% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas Mcconnon sold 69,686 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $73.62, for a total transaction of $5,130,283.32. Following the sale, the director directly owned 269,322 shares of the company’s stock, valued at $19,827,485.64. This trade represents a 20.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 37.76% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

Several large investors have recently bought and sold shares of GSHD. Wasatch Advisors LP lifted its stake in Goosehead Insurance by 12.6% during the 2nd quarter. Wasatch Advisors LP now owns 2,275,369 shares of the company’s stock valued at $240,074,000 after acquiring an additional 253,777 shares during the period. Durable Capital Partners LP raised its holdings in shares of Goosehead Insurance by 126.5% during the third quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company’s stock valued at $114,769,000 after purchasing an additional 861,374 shares during the last quarter. State Street Corp lifted its position in Goosehead Insurance by 1.4% during the second quarter. State Street Corp now owns 1,027,500 shares of the company’s stock valued at $108,412,000 after purchasing an additional 14,311 shares during the period. DF Dent & Co. Inc. boosted its holdings in Goosehead Insurance by 2.0% in the third quarter. DF Dent & Co. Inc. now owns 1,012,414 shares of the company’s stock worth $75,344,000 after purchasing an additional 20,085 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in Goosehead Insurance by 118.7% during the 2nd quarter. Balyasny Asset Management L.P. now owns 556,760 shares of the company’s stock valued at $58,744,000 after buying an additional 302,130 shares during the last quarter.

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.