Short Interest in Goosehead Insurance, Inc (NASDAQ:GSHD) Rises By 5.0%

Goosehead Insurance, Inc (NASDAQ:GSHD) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 3,980,000 shares, a growth of 5.0% from the May 31st total of 3,790,000 shares. Based on an average daily trading volume, of 343,100 shares, the short-interest ratio is presently 11.6 days. Currently, 17.3% of the company’s stock are sold short.

Goosehead Insurance Price Performance

GSHD stock traded down $0.63 during trading on Wednesday, reaching $56.83. The company’s stock had a trading volume of 88,268 shares, compared to its average volume of 298,868. Goosehead Insurance has a 1 year low of $50.47 and a 1 year high of $92.76. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $2.16 billion, a P/E ratio of 92.68, a price-to-earnings-growth ratio of 3.74 and a beta of 1.36. The company’s fifty day moving average is $59.97 and its 200-day moving average is $68.71.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Goosehead Insurance had a return on equity of 202.00% and a net margin of 5.99%. The business had revenue of $64.46 million during the quarter, compared to analyst estimates of $66.24 million. On average, research analysts expect that Goosehead Insurance will post 0.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GSHD has been the topic of several research analyst reports. BMO Capital Markets lowered their price target on Goosehead Insurance from $90.00 to $72.00 and set an “outperform” rating on the stock in a report on Tuesday, April 30th. Royal Bank of Canada reissued an “outperform” rating and set a $80.00 price target on shares of Goosehead Insurance in a report on Friday, June 28th. Keefe, Bruyette & Woods lowered their price target on Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Truist Financial lowered their price target on Goosehead Insurance from $70.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Finally, Piper Sandler lowered their price target on Goosehead Insurance from $88.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.00.

Insider Buying and Selling

In other Goosehead Insurance news, COO Mark Miller acquired 10,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average cost of $58.06 per share, with a total value of $580,600.00. Following the transaction, the chief operating officer now owns 30,000 shares of the company’s stock, valued at approximately $1,741,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 38.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Goosehead Insurance

Several large investors have recently made changes to their positions in GSHD. Motley Fool Asset Management LLC increased its holdings in shares of Goosehead Insurance by 407.4% in the first quarter. Motley Fool Asset Management LLC now owns 533,500 shares of the company’s stock worth $35,542,000 after purchasing an additional 428,355 shares during the last quarter. Vanguard Group Inc. increased its stake in Goosehead Insurance by 17.8% during the third quarter. Vanguard Group Inc. now owns 2,332,578 shares of the company’s stock worth $173,847,000 after acquiring an additional 351,630 shares during the last quarter. Wasatch Advisors LP increased its stake in Goosehead Insurance by 17.2% during the first quarter. Wasatch Advisors LP now owns 2,101,847 shares of the company’s stock worth $140,025,000 after acquiring an additional 308,312 shares during the last quarter. Norden Group LLC increased its stake in Goosehead Insurance by 1,839.4% during the first quarter. Norden Group LLC now owns 109,942 shares of the company’s stock worth $7,324,000 after acquiring an additional 104,273 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Goosehead Insurance during the third quarter worth approximately $5,010,000.

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.