Goosehead Insurance, Inc (NASDAQ:GSHD – Get Rating) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 2,020,000 shares, a drop of 6.5% from the May 15th total of 2,160,000 shares. Currently, 9.5% of the company’s stock are short sold. Based on an average daily volume of 195,600 shares, the days-to-cover ratio is presently 10.3 days.
Analysts Set New Price Targets
A number of brokerages have issued reports on GSHD. Royal Bank of Canada lifted their price objective on Goosehead Insurance from $66.00 to $72.00 in a research note on Thursday, June 8th. JPMorgan Chase & Co. lowered their price objective on Goosehead Insurance from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, February 23rd. Truist Financial lifted their price objective on Goosehead Insurance from $40.00 to $50.00 in a research note on Thursday, April 27th. Credit Suisse Group reiterated an “outperform” rating and set a $72.00 price objective on shares of Goosehead Insurance in a research note on Wednesday, March 1st. Finally, Piper Sandler boosted their price target on Goosehead Insurance from $59.00 to $64.00 in a research note on Thursday, April 27th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.14.
Goosehead Insurance Price Performance
GSHD stock opened at $61.75 on Monday. Goosehead Insurance has a 1-year low of $29.23 and a 1-year high of $71.04. The stock has a market capitalization of $2.32 billion, a P/E ratio of 475.04, a P/E/G ratio of 4.15 and a beta of 1.20. The business has a fifty day moving average price of $57.24 and a 200-day moving average price of $47.71.
Goosehead Insurance (NASDAQ:GSHD – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.04 by $0.13. Goosehead Insurance had a negative return on equity of 6.68% and a net margin of 1.21%. The company had revenue of $57.96 million during the quarter, compared to analyst estimates of $53.73 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. Goosehead Insurance’s revenue was up 40.4% compared to the same quarter last year. As a group, analysts anticipate that Goosehead Insurance will post 0.35 earnings per share for the current year.
Insider Activity
In other news, major shareholder & Robyn Jones Descendants Mark sold 10,112 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $60.18, for a total value of $608,540.16. Following the completion of the transaction, the insider now owns 132,349 shares in the company, valued at approximately $7,964,762.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder Desiree Coleman sold 5,462 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $55.50, for a total value of $303,141.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 10,112 shares of Goosehead Insurance stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $60.18, for a total value of $608,540.16. Following the transaction, the insider now owns 132,349 shares of the company’s stock, valued at approximately $7,964,762.82. The disclosure for this sale can be found here. Insiders sold a total of 253,504 shares of company stock worth $14,700,625 in the last quarter. 48.35% of the stock is owned by company insiders.
Institutional Trading of Goosehead Insurance
Several large investors have recently modified their holdings of GSHD. Meeder Asset Management Inc. bought a new stake in shares of Goosehead Insurance in the fourth quarter worth $33,000. Harbor Investment Advisory LLC grew its holdings in Goosehead Insurance by 58.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 1,548 shares of the company’s stock valued at $53,000 after purchasing an additional 572 shares during the period. Group One Trading L.P. bought a new stake in Goosehead Insurance during the first quarter valued at about $59,000. Quantbot Technologies LP bought a new stake in Goosehead Insurance during the second quarter valued at about $65,000. Finally, UBS Group AG grew its holdings in Goosehead Insurance by 2,303.5% during the third quarter. UBS Group AG now owns 2,067 shares of the company’s stock valued at $74,000 after purchasing an additional 1,981 shares during the period. Institutional investors own 99.96% of the company’s stock.
About Goosehead Insurance
Goosehead Insurance, Inc is a holding company, which engages in the provision of independent personal lines of insurance. It operates through the Corporate Channel and Franchise Channel segments. The Corporate Channel segment consists of company-owned and financed operations with employees who are hired, trained, and managed by the company.