SelectQuote (NYSE:SLQT) Reaches New 12-Month High – Here’s What Happened

SelectQuote, Inc. (NYSE:SLQT)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $4.62 and last traded at $4.55, with a volume of 902835 shares traded. The stock had previously closed at $4.24.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $4.00 price objective on shares of SelectQuote in a report on Friday, November 22nd. Craig Hallum initiated coverage on shares of SelectQuote in a research report on Monday, September 30th. They set a “buy” rating and a $4.50 price objective on the stock.

SelectQuote Price Performance

The firm has a market capitalization of $774.37 million, a P/E ratio of -16.13 and a beta of 1.14. The business’s 50-day simple moving average is $3.26 and its 200 day simple moving average is $3.03. The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 2.36.

SelectQuote (NYSE:SLQT) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The business had revenue of $292.26 million during the quarter, compared to the consensus estimate of $275.15 million. SelectQuote had a negative return on equity of 15.00% and a negative net margin of 3.45%. During the same period in the prior year, the firm earned ($0.19) earnings per share. Sell-side analysts forecast that SelectQuote, Inc. will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On SelectQuote

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

SelectQuote Company Profile

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.