Goosehead Insurance Inc (NASDAQ:GSHD) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totalling 2,008,300 shares, a growth of 7.6% from the May 30th total of 1,866,400 shares. Approximately 20.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 200,700 shares, the days-to-cover ratio is presently 10.0 days.
Goosehead Insurance stock opened at $45.52 on Wednesday. Goosehead Insurance has a 1-year low of $20.49 and a 1-year high of $51.47. The stock has a market cap of $680.60 million, a price-to-earnings ratio of 227.60, a P/E/G ratio of 2.88 and a beta of 0.32. The stock has a 50-day moving average price of $42.88.
Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.16 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.16. Goosehead Insurance had a negative net margin of 9.36% and a negative return on equity of 17.75%. The company had revenue of $23.13 million for the quarter, compared to analyst estimates of $21.30 million. The firm’s revenue for the quarter was up 58.6% compared to the same quarter last year. On average, equities research analysts forecast that Goosehead Insurance will post 0.32 EPS for the current fiscal year.
Several analysts have recently issued reports on GSHD shares. Bank of America set a $25.00 target price on shares of Bed Bath & Beyond and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods cut shares of Trustmark from a “market perform” rating to an “underperform” rating and set a $34.00 target price on the stock. in a research report on Tuesday, March 19th. ValuEngine upgraded shares of William Lyon Homes from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 10th. Finally, Zacks Investment Research upgraded shares of HAYS PLC/ADR from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th.
In other news, insider Michael C. Colby sold 8,578 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $26.16, for a total transaction of $224,400.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider & Robyn Jones Descendants Mark sold 45,394 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $34.52, for a total transaction of $1,567,000.88. The disclosure for this sale can be found here. Insiders have sold a total of 395,725 shares of company stock worth $14,769,993 over the last 90 days. Corporate insiders own 67.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Wasatch Advisors Inc. raised its position in Goosehead Insurance by 20.7% in the 1st quarter. Wasatch Advisors Inc. now owns 1,564,556 shares of the company’s stock worth $43,620,000 after purchasing an additional 268,202 shares during the period. BlackRock Inc. raised its position in Goosehead Insurance by 0.4% in the 4th quarter. BlackRock Inc. now owns 529,833 shares of the company’s stock worth $13,929,000 after purchasing an additional 2,089 shares during the period. Hodges Capital Management Inc. raised its position in Goosehead Insurance by 34.4% in the 1st quarter. Hodges Capital Management Inc. now owns 384,525 shares of the company’s stock worth $10,721,000 after purchasing an additional 98,355 shares during the period. Ranger Investment Management L.P. purchased a new stake in Goosehead Insurance in the 4th quarter worth about $6,089,000. Finally, American Century Companies Inc. raised its position in Goosehead Insurance by 31.3% in the 4th quarter. American Century Companies Inc. now owns 218,058 shares of the company’s stock worth $5,733,000 after purchasing an additional 52,039 shares during the period. 79.35% of the stock is currently owned by institutional investors.
About Goosehead Insurance
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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