Goosehead Insurance (NASDAQ:GSHD) Reaches New 12-Month High Following Earnings Beat

Goosehead Insurance, Inc (NASDAQ:GSHD)’s share price reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $100.37 and last traded at $99.99, with a volume of 150558 shares changing hands. The stock had previously closed at $96.03.

The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.05. The company 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 firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GSHD. UBS Group raised their target price on shares of Goosehead Insurance from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets cut shares of Goosehead Insurance from an “outperform” rating to a “market perform” rating and set a $90.00 price target on the stock. in a report on Thursday, August 22nd. TD Cowen cut shares of Goosehead Insurance from a “buy” rating to a “hold” rating and dropped their target price for the company from $98.00 to $94.00 in a report on Thursday, August 15th. Truist Financial boosted their target price on Goosehead Insurance from $65.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Goosehead Insurance from $65.00 to $77.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $89.40.

Insider Transactions at Goosehead Insurance

In other news, major shareholder Patrick Ryan Langston sold 10,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $95.35, for a total transaction of $953,500.00. Following the transaction, the insider now owns 5,000 shares of the company’s stock, valued at approximately $476,750. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Mark Evan Jones sold 11,699 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $85.75, for a total transaction of $1,003,189.25. Following the sale, the chairman now owns 39,451 shares of the company’s stock, valued at $3,382,923.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Patrick Ryan Langston sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $95.35, for a total value of $953,500.00. Following the sale, the insider now directly owns 5,000 shares in the company, valued at approximately $476,750. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,798 shares of company stock valued at $6,310,613. 48.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

Institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. bought a new stake in Goosehead Insurance during the third quarter valued at about $29,000. GAMMA Investing LLC raised its position in Goosehead Insurance by 195.8% during the third quarter. GAMMA Investing LLC now owns 349 shares of the company’s stock valued at $31,000 after acquiring an additional 231 shares in the last quarter. Blue Trust Inc. raised its position in Goosehead Insurance by 567.6% during the third quarter. Blue Trust Inc. now owns 474 shares of the company’s stock valued at $42,000 after acquiring an additional 403 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in Goosehead Insurance during the first quarter valued at approximately $35,000. Finally, Cullen Frost Bankers Inc. grew its holdings in Goosehead Insurance by 49.4% in the second quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company’s stock valued at $36,000 after purchasing an additional 210 shares during the period.

Goosehead Insurance Price Performance

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 stock has a 50 day moving average price of $88.55 and a 200-day moving average price of $72.76. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 174.40, a price-to-earnings-growth ratio of 4.72 and a beta of 1.35.

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.