SelectQuote (NYSE:SLQT) Trading 5.9% Higher – Here’s What Happened

SelectQuote, Inc. (NYSE:SLQT)’s share price was up 5.9% during trading on Friday . The stock traded as high as $4.11 and last traded at $4.10. Approximately 272,856 shares were traded during trading, a decline of 60% from the average daily volume of 684,569 shares. The stock had previously closed at $3.87.

Analysts Set New Price Targets

Several analysts recently weighed in on SLQT shares. Craig Hallum started coverage on shares of SelectQuote in a research report on Monday, September 30th. They issued a “buy” rating and a $4.50 price objective on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $4.00 price target on shares of SelectQuote in a research note on Friday, November 22nd.

SelectQuote Stock Performance

The company has a 50 day moving average price of $2.84 and a 200-day moving average price of $2.94. The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 2.36. The company has a market cap of $710.03 million, a P/E ratio of -14.79 and a beta of 1.22.

SelectQuote (NYSE:SLQT) last released its earnings results on Monday, November 4th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The company had revenue of $292.26 million for the quarter, compared to analyst estimates of $275.15 million. SelectQuote had a negative net margin of 3.45% and a negative return on equity of 15.00%. During the same period in the previous year, the business posted ($0.19) EPS. Equities analysts expect that SelectQuote, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Trading of SelectQuote

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mason Investment Advisory Services Inc. raised its holdings in shares of SelectQuote by 33.3% in the 3rd quarter. Mason Investment Advisory Services Inc. now owns 20,000 shares of the company’s stock worth $43,000 after purchasing an additional 5,000 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of SelectQuote in the third quarter valued at $123,000. Algert Global LLC lifted its position in shares of SelectQuote by 147.1% during the 2nd quarter. Algert Global LLC now owns 50,429 shares of the company’s stock valued at $139,000 after acquiring an additional 30,019 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of SelectQuote during the 3rd quarter valued at $150,000. Finally, Quantbot Technologies LP bought a new stake in shares of SelectQuote during the 3rd quarter worth $153,000. Institutional investors own 34.59% of the company’s stock.

About SelectQuote

SelectQuote, Inc operates a technology-enabled, direct-to-consumer distribution platform that sells a range of insurance products and healthcare services in the United States. The company operates through three segments: Senior; Life; and Auto & Home. It distributes senior health policies, such as medicare advantage, medicare supplement, medicare part D, and other ancillary senior health insurance related products, including prescription drugs, dental, vision, and hearing plans; life insurance products, such as term life, final expense, and other ancillary products, including critical illness, accidental death, and juvenile insurance; homeowners, auto, dwelling fire, and other ancillary insurance products; and non-commercial auto and home property, and casualty policies.