Insider Buying: SelectQuote (NYSE:SLQT) Director Acquires $102,764.92 in Stock

Key Points

• SelectQuote Director Donald Hawks III bought 223,402 shares at an average of $0.46, investing about $102,765. The purchase increased his stake by 41.39% to 763,214 shares.
• SelectQuote’s latest quarter beat analyst expectations, reporting a loss of $0.21 per share versus the expected $0.33 loss, and revenue of $280.01 million versus $277.91 million expected.
• Analysts have a consensus “Hold” rating and a $3.00 price target; the stock recently traded at $0.46, within a 52-week range of $0.30 to $1.76.

SelectQuote, Inc. (NYSE:SLQT - Get Free Report) Director Donald Hawks III acquired 223,402 shares of the business's stock in a transaction that occurred on Monday, November 9th. The shares were bought at an average price of $0.46 per share, with a total value of $102,764.92. Following the completion of the transaction, the director directly owned 763,214 shares in the company, valued at approximately $351,078.44. The trade was a 41.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

SelectQuote Price Performance

NYSE:SLQT traded up $0.01 during trading hours on Tuesday, reaching $0.46. 547,605 shares of the company traded hands, compared to its average volume of 1,550,047. The firm's 50-day moving average is $0.42 and its 200-day moving average is $0.75. The stock has a market cap of $82.28 million, a P/E ratio of -15.30 and a beta of 2.01. The company has a debt-to-equity ratio of 1.16, a current ratio of 7.48 and a quick ratio of 6.57. SelectQuote, Inc. has a 1-year low of $0.30 and a 1-year high of $1.76.

SelectQuote (NYSE:SLQT - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.21) earnings per share for the quarter, topping analysts' consensus estimates of ($0.33) by $0.12. SelectQuote had a return on equity of 22.48% and a net margin of 4.61%. The company had revenue of $280.01 million during the quarter, compared to analysts' expectations of $277.91 million. Equities research analysts expect that SelectQuote, Inc. will post -0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SLQT. Wall Street Zen cut shares of SelectQuote from a "hold" rating to a "sell" rating in a research note on Saturday, August 29th. Weiss Ratings lowered shares of SelectQuote from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, August 17th. Finally, Zacks Research upgraded SelectQuote from a "strong sell" rating to a "hold" rating in a report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, SelectQuote has a consensus rating of "Hold" and a consensus price target of $3.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of SelectQuote during the 2nd quarter worth $1,836,000. GSA Capital Partners LLP acquired a new stake in SelectQuote during the second quarter worth about $1,123,000. Renaissance Technologies LLC increased its stake in SelectQuote by 817.6% during the first quarter. Renaissance Technologies LLC now owns 1,021,239 shares of the company's stock worth $643,000 after acquiring an additional 909,939 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of SelectQuote in the 2nd quarter worth about $536,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of SelectQuote in the 2nd quarter worth about $461,000. Institutional investors and hedge funds own 34.59% of the company's stock.

SelectQuote Company Profile

SelectQuote, Inc. NYSE: SLQT operates a technology-enabled insurance distribution platform that helps consumers compare and purchase insurance products from third-party carriers. The company combines digital tools, proprietary data and licensed agents to connect customers with coverage suited to their needs. SelectQuote's primary business is its Senior segment, which provides access to Medicare Advantage, Medicare Supplement and prescription drug plans. The company has also historically offered life insurance, as well as auto and home insurance, through its Life and Auto & Home businesses.

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