SelectQuote (NYSE:SLQT) Stock: Insider Raymond Weldon Buys 409,836 Shares

Key Points

• Director Raymond Weldon bought 409,836 SelectQuote shares for about $200,820, increasing his position by 79.86% to 923,050 shares.
• SelectQuote reported quarterly adjusted earnings of a $0.21 loss per share, better than the expected $0.33 loss, and revenue of $280.01 million, above estimates.
• The stock rose 2.6% to $0.46 in Tuesday trading. Analysts’ average rating was Hold, with a consensus price target of $3.00.

SelectQuote, Inc. (NYSE:SLQT - Get Free Report) Director Raymond Weldon purchased 409,836 shares of the stock in a transaction that occurred on Friday, November 6th. The stock was bought at an average cost of $0.49 per share, with a total value of $200,819.64. Following the completion of the transaction, the director directly owned 923,050 shares in the company, valued at $452,294.50. The trade was a 79.86% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

SelectQuote Stock Up 2.6%

SLQT traded up $0.01 during mid-day trading on Tuesday, reaching $0.46. 530,965 shares of the stock were exchanged, compared to its average volume of 1,550,047. The company has a debt-to-equity ratio of 1.16, a quick ratio of 6.57 and a current ratio of 7.48. The stock has a market capitalization of $82.28 million, a PE ratio of -15.30 and a beta of 2.01. The company has a 50 day moving average price of $0.42 and a two-hundred day moving average price of $0.75. 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 announced its earnings results on Wednesday, November 4th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.12. SelectQuote had a net margin of 4.61% and a return on equity of 22.48%. The company had revenue of $280.01 million during the quarter, compared to the consensus estimate of $277.91 million. As a group, research analysts anticipate that SelectQuote, Inc. will post -0.25 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SLQT shares. Zacks Research upgraded SelectQuote from a "strong sell" rating to a "hold" rating in a research note on Monday, October 26th. Wall Street Zen lowered SelectQuote from a "hold" rating to a "sell" rating in a report on Saturday, August 29th. Finally, Weiss Ratings lowered SelectQuote from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $3.00.

Hedge Funds Weigh In On SelectQuote

Institutional investors have recently bought and sold shares of the company. SMH Capital Advisors Inc. bought a new stake in SelectQuote in the 3rd quarter valued at about $47,000. EP Wealth Advisors LLC purchased a new stake in SelectQuote during the second quarter valued at about $51,000. Persistent Asset Partners Ltd bought a new position in SelectQuote during the second quarter worth about $57,000. State of Wyoming boosted its position in SelectQuote by 103.4% during the first quarter. State of Wyoming now owns 95,382 shares of the company's stock worth $60,000 after purchasing an additional 48,483 shares during the period. Finally, Fragasso Financial Advisors Inc bought a new position in SelectQuote during the third quarter worth about $61,000. Hedge funds and other institutional investors own 34.59% of the company's stock.

About SelectQuote

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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