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

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

Goosehead Insurance Trading Down 2.1 %

NASDAQ GSHD traded down $2.63 during mid-day trading on Monday, reaching $123.49. 198,124 shares of the stock were exchanged, compared to its average volume of 287,635. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market cap of $4.58 billion, a P/E ratio of 175.17, a P/E/G ratio of 4.86 and a beta of 1.32. The stock has a 50 day simple moving average of $105.11 and a 200-day simple moving average of $83.59. Goosehead Insurance has a one year low of $50.47 and a one year high of $130.39.

Goosehead Insurance (NASDAQ:GSHD) last announced its earnings results on Wednesday, October 23rd. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.45 by $0.05. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%. The company had revenue of $78.04 million for the quarter, compared to analyst estimates of $80.54 million. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 EPS. On average, analysts anticipate that Goosehead Insurance will post 0.84 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GSHD shares. Piper Sandler lifted their price target on shares of Goosehead Insurance from $103.00 to $122.00 and gave the company an “overweight” rating in a report on Monday, October 28th. TD Cowen upped their price target on shares of Goosehead Insurance from $94.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. JMP Securities raised their price objective on Goosehead Insurance from $100.00 to $115.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price objective on Goosehead Insurance from $65.00 to $77.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, BMO Capital Markets boosted their price target on Goosehead Insurance from $90.00 to $120.00 and gave the stock a “market perform” rating in a report on Tuesday, November 19th. One 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $97.90.

Insiders Place Their Bets

In other Goosehead Insurance news, CEO Mark Miller sold 58,327 shares of the company’s stock in a transaction on 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 directly owns 30,000 shares in the company, valued at $3,306,600. This represents a 66.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Patrick Ryan Langston sold 3,019 shares of Goosehead Insurance stock in a transaction on Friday, September 27th. The shares were sold at an average price of $90.34, for a total value of $272,736.46. Following the completion of the transaction, the insider now owns 5,000 shares in the company, 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 have sold 122,255 shares of company stock worth $12,686,800 in the last 90 days. Company insiders own 48.35% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in GSHD. Whittier Trust Co. of Nevada Inc. bought a new position in Goosehead Insurance in the 3rd quarter valued at about $29,000. GAMMA Investing LLC raised 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. Blue Trust Inc. lifted its holdings in shares of Goosehead Insurance by 567.6% in the third quarter. Blue Trust Inc. now owns 474 shares of the company’s stock valued at $42,000 after purchasing an additional 403 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in Goosehead Insurance by 49.4% during the second quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company’s stock worth $36,000 after buying an additional 210 shares in the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in Goosehead Insurance in the 3rd quarter valued at $60,000.

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.