SelectQuote, Inc. (NYSE:SLQT) Sees Significant Decrease in Short Interest

SelectQuote, Inc. (NYSE:SLQT) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totaling 1,330,729 shares, a drop of 69.7% from the June 15th total of 4,394,898 shares. Based on an average daily trading volume, of 3,293,561 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.9% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Zacks Research cut shares of SelectQuote from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. Noble Financial upgraded shares of SelectQuote to a “strong-buy” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings raised shares of SelectQuote from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, SelectQuote presently has a consensus rating of “Hold” and a consensus target price of $3.00.

Hedge Funds Weigh In On SelectQuote

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC boosted its holdings in shares of SelectQuote by 530.1% in the 4th quarter. Millennium Management LLC now owns 1,637,460 shares of the company’s stock valued at $2,309,000 after purchasing an additional 1,377,577 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of SelectQuote by 817.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,021,239 shares of the company’s stock worth $643,000 after buying an additional 909,939 shares during the last quarter. Bridgeway Capital Management LLC acquired a new stake in shares of SelectQuote during the 4th quarter worth $1,186,000. Arrowstreet Capital Limited Partnership raised its position in shares of SelectQuote by 71.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,931,037 shares of the company’s stock worth $4,596,000 after buying an additional 803,594 shares during the period. Finally, Captrust Financial Advisors raised its position in shares of SelectQuote by 36.3% in the 4th quarter. Captrust Financial Advisors now owns 2,081,209 shares of the company’s stock worth $2,935,000 after buying an additional 554,624 shares during the period. Institutional investors and hedge funds own 34.59% of the company’s stock.

SelectQuote Stock Up 2.7%

NYSE:SLQT traded up $0.02 during mid-day trading on Tuesday, reaching $0.74. The company’s stock had a trading volume of 869,742 shares, compared to its average volume of 2,135,587. The company’s fifty day simple moving average is $0.94 and its two-hundred day simple moving average is $0.99. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.92. SelectQuote has a twelve month low of $0.56 and a twelve month high of $2.77.

SelectQuote (NYSE:SLQT) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. The company had revenue of $430.93 million during the quarter, compared to the consensus estimate of $438.93 million. SelectQuote had a net margin of 5.60% and a return on equity of 20.49%. On average, equities research analysts anticipate that SelectQuote will post -0.03 earnings per share for the current fiscal year.

About SelectQuote

SelectQuote, Inc (NYSE: SLQT) is a U.S.-based insurance brokerage and lead generation company that connects consumers with a range of insurance products through proprietary technology and licensed agents. The company specializes in life insurance, supplemental health coverage and Medicare plans, leveraging its digital platform and call center operations to help individuals compare policies and find cost-effective solutions tailored to their needs.

Through a single point of contact, policy seekers can evaluate offerings from multiple carriers, including term life, whole life, accidental death, critical illness and long-term care products.