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

Goosehead Insurance, Inc (NASDAQ:GSHD) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 3,980,000 shares, an increase 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 days-to-cover ratio is currently 11.6 days. Currently, 17.3% of the company’s shares are short sold.

Goosehead Insurance Stock Performance

NASDAQ:GSHD traded down $0.63 during trading hours on Wednesday, hitting $56.83. 88,268 shares of the company traded hands, compared to its average volume of 298,868. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 92.68, a P/E/G ratio of 3.74 and a beta of 1.36. Goosehead Insurance has a twelve month low of $50.47 and a twelve month high of $92.76. The firm has a 50-day moving average of $59.97 and a 200 day moving average of $68.71. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.31.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Wednesday, April 24th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. The firm had revenue of $64.46 million during the quarter, compared to analysts’ expectations of $66.24 million. Goosehead Insurance had a net margin of 5.99% and a return on equity of 202.00%. On average, analysts forecast that Goosehead Insurance will post 0.7 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price objective on shares of Goosehead Insurance in a research report on Friday, June 28th. Truist Financial cut their price objective on shares of Goosehead Insurance from $70.00 to $60.00 and set a “hold” rating on the stock in a research report on Thursday, April 25th. TD Cowen reduced their price objective on shares of Goosehead Insurance from $105.00 to $98.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Finally, Bank of America boosted their price objective on shares of Goosehead Insurance from $35.00 to $37.00 and gave the stock an “underperform” rating in a research note on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Goosehead Insurance presently has an average rating of “Moderate Buy” and an average target price of $74.00.

Insiders Place Their Bets

In related news, COO Mark Miller purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was acquired at an average cost of $58.06 per share, for a total transaction of $580,600.00. Following the completion of the acquisition, the chief operating officer now owns 30,000 shares in the company, valued at approximately $1,741,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 38.03% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

Several institutional investors and hedge funds have recently bought and sold shares of GSHD. USA Financial Formulas increased its holdings in Goosehead Insurance by 5,350.0% in the 4th quarter. USA Financial Formulas now owns 327 shares of the company’s stock valued at $25,000 after buying an additional 321 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in Goosehead Insurance in the 4th quarter valued at $35,000. Benjamin F. Edwards & Company Inc. bought a new stake in Goosehead Insurance in the 1st quarter valued at $35,000. CENTRAL TRUST Co bought a new stake in Goosehead Insurance in the 1st quarter valued at $67,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Goosehead Insurance by 18.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,229 shares of the company’s stock worth $92,000 after purchasing an additional 195 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.