Short Interest in Goosehead Insurance, Inc (NASDAQ:GSHD) Expands By 5.1%

Goosehead Insurance, Inc (NASDAQ:GSHD - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 2,070,000 shares, an increase of 5.1% from the March 15th total of 1,970,000 shares. Based on an average daily volume of 278,700 shares, the days-to-cover ratio is presently 7.4 days. Approximately 9.2% of the company's shares are sold short.

Goosehead Insurance Stock Performance

Shares of NASDAQ GSHD traded down $0.45 during mid-day trading on Tuesday, reaching $56.45. 232,592 shares of the company's stock were exchanged, compared to its average volume of 278,468. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 99.60, a price-to-earnings-growth ratio of 4.06 and a beta of 1.28. Goosehead Insurance has a 52 week low of $51.06 and a 52 week high of $92.76. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.82 and a quick ratio of 1.82. The firm has a 50-day moving average price of $73.84 and a two-hundred day moving average price of $73.36.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Goosehead Insurance had a net margin of 5.41% and a negative return on equity of 392.58%. The firm had revenue of $63.01 million during the quarter, compared to the consensus estimate of $68.18 million. Analysts predict that Goosehead Insurance will post 0.83 EPS for the current year.

Insiders Place Their Bets

In other Goosehead Insurance news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the firm's stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $74.92, for a total transaction of $2,722,368.04. Following the completion of the transaction, the insider now owns 132,349 shares in the company, valued at approximately $9,915,587.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Desiree Coleman sold 2,324 shares of the firm's stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $80.17, for a total transaction of $186,315.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the firm's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $74.92, for a total transaction of $2,722,368.04. Following the sale, the insider now directly owns 132,349 shares of the company's stock, valued at approximately $9,915,587.08. The disclosure for this sale can be found here. In the last 90 days, insiders bought 7,582 shares of company stock worth $561,249 and sold 68,617 shares worth $5,291,137. Company insiders own 38.03% of the company's stock.

Institutional Investors Weigh In On Goosehead Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GSHD. Group One Trading L.P. purchased a new position in Goosehead Insurance during the 1st quarter valued at about $59,000. HighTower Advisors LLC grew its holdings in Goosehead Insurance by 16.6% during the 1st quarter. HighTower Advisors LLC now owns 3,167 shares of the company's stock valued at $248,000 after buying an additional 450 shares in the last quarter. Cetera Advisor Networks LLC purchased a new position in Goosehead Insurance during the 1st quarter valued at about $519,000. Bank of Montreal Can grew its holdings in Goosehead Insurance by 47.6% during the 1st quarter. Bank of Montreal Can now owns 13,023 shares of the company's stock valued at $1,120,000 after buying an additional 4,202 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Goosehead Insurance by 53.5% during the 1st quarter. MetLife Investment Management LLC now owns 9,763 shares of the company's stock valued at $767,000 after buying an additional 3,404 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently issued reports on GSHD. JPMorgan Chase & Co. lifted their price target on shares of Goosehead Insurance from $61.00 to $62.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. JMP Securities reissued a "market outperform" rating and issued a $100.00 price target on shares of Goosehead Insurance in a research report on Monday. Truist Financial reduced their price target on shares of Goosehead Insurance from $75.00 to $70.00 and set a "hold" rating for the company in a research report on Thursday, March 28th. BMO Capital Markets reduced their price target on shares of Goosehead Insurance from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Thursday, March 28th. Finally, Piper Sandler raised their price objective on Goosehead Insurance from $85.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, March 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $84.88.

Goosehead Insurance Company Profile

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.

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