Goosehead Insurance (NASDAQ:GSHD) Shares Gap Up After Better-Than-Expected Earnings

Shares of Goosehead Insurance, Inc (NASDAQ:GSHD) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $105.65, but opened at $114.87. Goosehead Insurance shares last traded at $119.98, with a volume of 82,035 shares traded.

The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.17. The company had revenue of $93.92 million for the quarter, compared to the consensus estimate of $78.03 million. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%.

Goosehead Insurance Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 21st were paid a dividend of $5.91 per share. This is a positive change from Goosehead Insurance’s previous dividend of $1.63. The ex-dividend date of this dividend was Tuesday, January 21st. Goosehead Insurance’s payout ratio is presently 638.89%.

Analysts Set New Price Targets

Several research analysts have recently commented on GSHD shares. JPMorgan Chase & Co. lifted their price target on shares of Goosehead Insurance from $77.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Piper Sandler upped their target price on Goosehead Insurance from $103.00 to $122.00 and gave the company an “overweight” rating in a report on Monday, October 28th. BMO Capital Markets upped their target price on Goosehead Insurance from $90.00 to $120.00 and gave the company a “market perform” rating in a report on Tuesday, November 19th. Finally, TD Cowen upped their price objective on Goosehead Insurance from $94.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $99.20.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. R Squared Ltd acquired a new stake in Goosehead Insurance in the fourth quarter worth about $39,000. Blue Trust Inc. raised its position in shares of Goosehead Insurance by 567.6% during the 3rd quarter. Blue Trust Inc. now owns 474 shares of the company’s stock worth $42,000 after buying an additional 403 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Goosehead Insurance in the fourth quarter valued at approximately $63,000. GAMMA Investing LLC increased its stake in shares of Goosehead Insurance by 73.6% during the fourth quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $65,000 after acquiring an additional 257 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in Goosehead Insurance by 462.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 619 shares of the company’s stock worth $64,000 after purchasing an additional 509 shares in the last quarter.

Goosehead Insurance Stock Performance

The company has a fifty day moving average of $107.58 and a 200 day moving average of $102.73. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market cap of $4.56 billion, a P/E ratio of 170.78, a PEG ratio of 5.17 and a beta of 1.43.

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.