Goosehead Insurance, Inc (NASDAQ:GSHD) Sees Large Decrease in Short Interest

Goosehead Insurance, Inc (NASDAQ:GSHD) was the target of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 3,430,000 shares, a decline of 7.3% from the October 31st total of 3,700,000 shares. Based on an average daily volume of 255,400 shares, the days-to-cover ratio is presently 13.4 days. Approximately 14.6% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JMP Securities increased their target price on shares of Goosehead Insurance from $100.00 to $115.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada raised their price objective on shares of Goosehead Insurance from $95.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on shares of Goosehead Insurance from $65.00 to $77.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Truist Financial lifted their target price on Goosehead Insurance from $65.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Finally, TD Cowen upped their price target 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 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $97.90.

Goosehead Insurance Trading Up 1.7 %

GSHD stock opened at $125.64 on Wednesday. The firm has a fifty day moving average price of $105.82 and a 200 day moving average price of $84.02. Goosehead Insurance has a fifty-two week low of $50.47 and a fifty-two week high of $130.39. The firm has a market cap of $4.66 billion, a PE ratio of 174.50, a price-to-earnings-growth ratio of 4.76 and a beta of 1.38. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.55 and a current ratio of 1.55.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Wednesday, October 23rd. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. Goosehead Insurance had a net margin of 6.77% and a return on equity of 284.41%. The firm had revenue of $78.04 million for the quarter, compared to the consensus estimate of $80.54 million. During the same period in the previous year, the firm posted $0.28 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. Sell-side analysts anticipate that Goosehead Insurance will post 0.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Goosehead Insurance

In other Goosehead Insurance news, CEO Mark Miller sold 58,327 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $110.22, for a total transaction of $6,428,801.94. Following the completion of the sale, the chief executive officer now owns 30,000 shares of the company’s stock, valued at approximately $3,306,600. The trade was a 66.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Patrick Ryan Langston sold 3,019 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $90.34, for a total value of $272,736.46. Following the completion of the sale, the insider now owns 5,000 shares of the company’s stock, valued at approximately $451,700. The trade was a 37.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,255 shares of company stock worth $12,686,800 in the last three months. 38.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Goosehead Insurance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Goosehead Insurance by 34.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,428,907 shares of the company’s stock worth $196,956,000 after purchasing an additional 879,959 shares during the period. Wasatch Advisors LP boosted its stake in Goosehead Insurance by 5.6% during the third quarter. Wasatch Advisors LP now owns 2,618,945 shares of the company’s stock worth $233,872,000 after buying an additional 138,571 shares during the period. State Street Corp increased its position in Goosehead Insurance by 21.2% during the third quarter. State Street Corp now owns 1,059,298 shares of the company’s stock valued at $94,595,000 after acquiring an additional 185,037 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Goosehead Insurance by 0.9% in the third quarter. Geode Capital Management LLC now owns 643,514 shares of the company’s stock valued at $57,476,000 after acquiring an additional 5,969 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Goosehead Insurance by 35.7% in the 2nd quarter. American Century Companies Inc. now owns 420,934 shares of the company’s stock worth $24,179,000 after acquiring an additional 110,832 shares during the last quarter.

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.