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

Goosehead Insurance, Inc (NASDAQ:GSHD – Get Rating) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 923,700 shares, a drop of 25.5% from the March 15th total of 1,240,000 shares. Based on an average daily trading volume, of 0 shares, the short-interest ratio is currently ∞ days.

In related news, major shareholder & Robyn Jones Descendants Mark sold 17,226 shares of Goosehead Insurance stock in a transaction on Monday, April 4th. The stock was sold at an average price of $79.77, for a total transaction of $1,374,118.02. Following the completion of the sale, the insider now directly owns 132,349 shares of the company’s stock, valued at $10,557,479.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 48.35% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. YorkBridge Wealth Partners LLC grew its position in shares of Goosehead Insurance by 87.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 4,829 shares of the company’s stock valued at $379,000 after purchasing an additional 2,252 shares during the last quarter. Wiley BROS. Aintree Capital LLC grew its position in shares of Goosehead Insurance by 55.6% in the first quarter. Wiley BROS. Aintree Capital LLC now owns 2,800 shares of the company’s stock valued at $220,000 after purchasing an additional 1,000 shares during the last quarter. Barclays PLC grew its position in Goosehead Insurance by 203.8% during the fourth quarter. Barclays PLC now owns 21,990 shares of the company’s stock worth $2,860,000 after buying an additional 14,751 shares in the last quarter. BlackRock Inc. grew its position in Goosehead Insurance by 4.2% during the fourth quarter. BlackRock Inc. now owns 1,256,707 shares of the company’s stock worth $163,474,000 after buying an additional 50,745 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Goosehead Insurance by 33.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 265,173 shares of the company’s stock worth $34,493,000 after buying an additional 67,147 shares in the last quarter. 99.18% of the stock is currently owned by institutional investors.

A number of research analysts have issued reports on the company. JMP Securities decreased their target price on Goosehead Insurance from $170.00 to $160.00 and set a “market outperform” rating for the company in a research note on Friday, January 14th. Zacks Investment Research raised Goosehead Insurance from a “sell” rating to a “hold” rating in a research note on Wednesday, March 2nd. Royal Bank of Canada cut their price target on Goosehead Insurance from $150.00 to $140.00 in a report on Thursday, February 24th. Piper Sandler cut their price target on Goosehead Insurance from $140.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, February 24th. Finally, Truist Financial cut their price target on Goosehead Insurance from $85.00 to $75.00 and set a “hold” rating on the stock in a report on Monday, March 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $137.86.

NASDAQ:GSHD opened at $65.39 on Friday. The stock’s 50 day moving average price is $78.73 and its two-hundred day moving average price is $112.95. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 261.56, a P/E/G ratio of 3.26 and a beta of 0.67. Goosehead Insurance has a 12-month low of $62.40 and a 12-month high of $181.30.

Goosehead Insurance (NASDAQ:GSHD – Get Rating) last released its quarterly earnings data on Wednesday, February 23rd. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). Goosehead Insurance had a net margin of 3.57% and a negative return on equity of 10.36%. The business had revenue of $40.20 million during the quarter, compared to the consensus estimate of $40.10 million. During the same quarter in the prior year, the company earned $0.14 EPS. Goosehead Insurance’s quarterly revenue was up 16.2% on a year-over-year basis. On average, equities research analysts forecast that Goosehead Insurance will post 0.56 earnings per share for the current fiscal year.

Goosehead Insurance Company Profile (Get Rating)

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that provides personal lines insurance agency services in the United States. The company operates in two segments, Corporate Channel and Franchise Channel. It offers homeowner's, insurance, automotive, dwelling property insurance, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services.

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