Goosehead Insurance, Inc (NASDAQ:GSHD) Short Interest Up 5.1% in March

Goosehead Insurance, Inc (NASDAQ:GSHD) was the recipient of a large increase in short interest in 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 short-interest ratio is presently 7.4 days. Currently, 9.2% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of analysts have weighed in on GSHD shares. BMO Capital Markets cut their target price on shares of Goosehead Insurance from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, March 28th. TD Cowen started coverage on shares of Goosehead Insurance in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $105.00 target price on the stock. Piper Sandler raised their target price on shares of Goosehead Insurance from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. JMP Securities restated a “market outperform” rating and issued a $100.00 target price on shares of Goosehead Insurance in a research report on Monday. Finally, JPMorgan Chase & Co. raised their target price 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Goosehead Insurance has a consensus rating of “Moderate Buy” and a consensus target price of $84.88.

Insiders Place Their Bets

In other Goosehead Insurance news, General Counsel John Terry O’connor bought 1,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $73.46 per share, for a total transaction of $73,460.00. Following the transaction, the general counsel now directly owns 1,000 shares in the company, valued at approximately $73,460. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Mark Miller purchased 5,000 shares of Goosehead Insurance stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $73.86 per share, for a total transaction of $369,300.00. Following the transaction, the chief operating officer now owns 20,000 shares of the company’s stock, valued at approximately $1,477,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel John Terry O’connor purchased 1,000 shares of Goosehead Insurance stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average price of $73.46 per share, for a total transaction of $73,460.00. Following the transaction, the general counsel now directly owns 1,000 shares in the company, valued at approximately $73,460. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 7,582 shares of company stock worth $561,249 and have sold 68,617 shares worth $5,291,137. Company insiders own 38.03% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

A number of hedge funds have recently bought and sold shares of the company. Harbor Investment Advisory LLC raised its stake in Goosehead Insurance by 20.8% during the first quarter. Harbor Investment Advisory LLC now owns 1,607 shares of the company’s stock worth $107,000 after buying an additional 277 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Goosehead Insurance by 13.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,394 shares of the company’s stock worth $106,000 after buying an additional 165 shares during the last quarter. Vanguard Group Inc. raised its stake in Goosehead Insurance by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 2,369,254 shares of the company’s stock worth $179,589,000 after buying an additional 36,676 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Goosehead Insurance by 14.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 294,977 shares of the company’s stock worth $22,359,000 after buying an additional 37,805 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Goosehead Insurance by 8.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,375 shares of the company’s stock worth $408,000 after buying an additional 440 shares during the last quarter.

Goosehead Insurance Trading Up 0.9 %

Shares of GSHD stock traded up $0.48 during trading hours on Wednesday, hitting $56.93. 161,455 shares of the company’s stock traded hands, compared to its average volume of 276,754. The stock’s 50 day simple moving average is $73.39 and its 200 day simple moving average is $73.23. The stock has a market cap of $2.16 billion, a PE ratio of 100.30, a price-to-earnings-growth ratio of 3.98 and a beta of 1.28. Goosehead Insurance has a 12 month low of $51.06 and a 12 month high of $92.76. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 4.02.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $63.01 million for the quarter, compared to the consensus estimate of $68.18 million. Goosehead Insurance had a net margin of 5.41% and a negative return on equity of 392.58%. On average, sell-side analysts anticipate that Goosehead Insurance will post 0.83 EPS 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.