Goosehead Insurance, Inc (NASDAQ:GSHD) Sees Significant Decline in Short Interest

Goosehead Insurance, Inc (NASDAQ:GSHD) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 3,430,000 shares, a drop of 7.3% from the October 31st total of 3,700,000 shares. Based on an average daily trading volume, of 255,400 shares, the short-interest ratio is currently 13.4 days. Currently, 14.6% of the company’s stock are sold short.

Insider Buying and Selling at Goosehead Insurance

In related news, CEO Mark Miller sold 58,327 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $110.22, for a total value of $6,428,801.94. Following the transaction, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at approximately $3,306,600. The trade was a 66.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Patrick Ryan Langston sold 2,167 shares of Goosehead Insurance stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $90.09, for a total transaction of $195,225.03. Following the completion of the sale, the insider now directly owns 5,000 shares in the company, valued at approximately $450,450. This represents a 30.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,255 shares of company stock worth $12,686,800. Insiders own 48.35% of the company’s stock.

Institutional Trading of Goosehead Insurance

Several institutional investors have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. bought a new stake in Goosehead Insurance in the 3rd quarter worth $29,000. GAMMA Investing LLC grew its stake in shares of Goosehead Insurance by 195.8% in the third quarter. GAMMA Investing LLC now owns 349 shares of the company’s stock worth $31,000 after purchasing an additional 231 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in Goosehead Insurance by 49.4% during the 2nd 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. Blue Trust Inc. raised its position in Goosehead Insurance by 567.6% during the 3rd quarter. Blue Trust Inc. now owns 474 shares of the company’s stock valued at $42,000 after purchasing an additional 403 shares during the last quarter. Finally, Quarry LP lifted its holdings in Goosehead Insurance by 2,810.7% in the 2nd quarter. Quarry LP now owns 815 shares of the company’s stock worth $47,000 after buying an additional 787 shares during the period.

Analyst Ratings Changes

GSHD has been the topic of a number of research reports. BMO Capital Markets boosted their price objective on Goosehead Insurance from $90.00 to $120.00 and gave the company a “market perform” rating in a research note on Tuesday, November 19th. Truist Financial upped their price target on shares of Goosehead Insurance from $65.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Royal Bank of Canada lifted their price objective on shares of Goosehead Insurance from $95.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective 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. Finally, TD Cowen increased their price objective on Goosehead Insurance from $94.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.90.

Goosehead Insurance Price Performance

NASDAQ:GSHD traded down $2.63 during midday trading on Monday, hitting $123.49. The company had a trading volume of 198,124 shares, compared to its average volume of 287,635. The company has a market capitalization of $4.58 billion, a PE ratio of 175.17, a P/E/G ratio of 4.86 and a beta of 1.32. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 37.70. Goosehead Insurance has a 52-week low of $50.47 and a 52-week high of $130.39. The stock’s fifty day moving average price is $105.11 and its 200-day moving average price is $83.59.

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

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.