Short Interest in Goosehead Insurance Inc (NASDAQ:GSHD) Grows By 9.2%

Goosehead Insurance Inc (NASDAQ:GSHD) saw a significant increase in short interest in November. As of November 29th, there was short interest totalling 3,210,000 shares, an increase of 9.2% from the November 14th total of 2,940,000 shares. Based on an average daily volume of 245,200 shares, the days-to-cover ratio is presently 13.1 days. Approximately 24.6% of the shares of the stock are short sold.

In other news, COO Jeffrey E. Williams sold 67,554 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $219.04, for a total value of $14,797,028.16. Also, major shareholder Robyn Mary Elizabeth Jones sold 24,754 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $40.54, for a total value of $1,003,527.16. Following the completion of the transaction, the insider now directly owns 747,890 shares of the company’s stock, valued at $30,319,460.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 483,468 shares of company stock worth $32,655,178. 67.50% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in GSHD. First Mercantile Trust Co. acquired a new position in Goosehead Insurance in the second quarter valued at $33,000. Rehmann Capital Advisory Group acquired a new position in Goosehead Insurance in the second quarter valued at $41,000. Bank of Montreal Can acquired a new position in Goosehead Insurance in the second quarter valued at $45,000. US Bancorp DE acquired a new position in Goosehead Insurance in the second quarter valued at $46,000. Finally, JPMorgan Chase & Co. increased its stake in Goosehead Insurance by 29.0% in the second quarter. JPMorgan Chase & Co. now owns 3,072 shares of the company’s stock valued at $145,000 after purchasing an additional 691 shares during the last quarter. Hedge funds and other institutional investors own 89.13% of the company’s stock.

A number of research firms have recently weighed in on GSHD. JPMorgan Chase & Co. set a $60.00 price target on Goosehead Insurance and gave the stock a “buy” rating in a report on Wednesday, September 18th. Keefe, Bruyette & Woods boosted their price target on Goosehead Insurance from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. ValuEngine cut Goosehead Insurance from a “hold” rating to a “sell” rating in a report on Wednesday, December 4th. Finally, Zacks Investment Research cut Goosehead Insurance from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $52.00.

Shares of NASDAQ GSHD traded up $0.79 during trading on Friday, reaching $39.98. The company had a trading volume of 100,118 shares, compared to its average volume of 229,000. The stock has a market capitalization of $595.94 million, a PE ratio of 199.90, a price-to-earnings-growth ratio of 2.34 and a beta of 0.11. The stock has a 50-day moving average price of $43.54 and a two-hundred day moving average price of $44.52. Goosehead Insurance has a twelve month low of $23.18 and a twelve month high of $51.98.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Friday, November 1st. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The firm had revenue of $21.17 million during the quarter, compared to analyst estimates of $21.57 million. Goosehead Insurance had a negative return on equity of 15.46% and a net margin of 5.69%. The firm’s revenue was up 31.9% compared to the same quarter last year. Equities research analysts expect that Goosehead Insurance will post 0.34 EPS for the current fiscal year.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc focuses on operating as a holding company for Goosehead Financial, LLC that provides personal lines insurance agency services in the United States. The company operates through two segments, Corporate Channel and Franchise Channel. It offers various insurance products, including homeowner's insurance; auto insurance; other personal lines products, such as flood, wind, and earthquake insurance; excess liability or umbrella insurance; specialty lines insurance comprising motorcycle, recreational vehicle, and other insurance; commercial lines insurance consisting of general liability, property, and auto insurance for small businesses; and life insurance.

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