SelectQuote (NYSE:SLQT) Stock: Insider Robert Clay Grant Purchases 79,801 Shares

Key Points

• SelectQuote President Robert Clay Grant bought 79,801 shares for about $40,699 at an average price of $0.51, increasing his stake by 2.41% to 3,386,491 shares.
• For the latest quarter, SelectQuote reported a loss of $0.21 per share, beating estimates of a $0.33 loss, while revenue of $280.01 million also exceeded expectations.
• Shares recently traded at $0.46, near the lower end of their 12-month range of $0.30–$1.76; analysts’ average rating is Hold, with a $3.00 average price target.

SelectQuote, Inc. (NYSE:SLQT - Get Free Report) President Robert Grant purchased 79,801 shares of SelectQuote stock in a transaction on Friday, November 6th. The stock was bought at an average cost of $0.51 per share, with a total value of $40,698.51. Following the completion of the acquisition, the president owned 3,386,491 shares in the company, valued at approximately $1,727,110.41. This trade represents a 2.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

SelectQuote Stock Performance

Shares of NYSE SLQT traded up $0.01 during trading hours on Tuesday, reaching $0.46. The stock had a trading volume of 547,605 shares, compared to its average volume of 1,550,047. The company has a market cap of $82.28 million, a price-to-earnings ratio of -15.30 and a beta of 2.01. The business's fifty day moving average is $0.42 and its two-hundred day moving average is $0.75. SelectQuote, Inc. has a twelve month low of $0.30 and a twelve month high of $1.76. 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 (NYSE:SLQT - Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.12. The business had revenue of $280.01 million for the quarter, compared to analyst estimates of $277.91 million. SelectQuote had a net margin of 4.61% and a return on equity of 22.48%. As a group, research analysts expect that SelectQuote, Inc. will post -0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC lifted its holdings in shares of SelectQuote by 10.4% in the first quarter. Empowered Funds LLC now owns 491,568 shares of the company's stock worth $309,000 after buying an additional 46,258 shares in the last quarter. State of Wyoming increased its position in shares of SelectQuote by 103.4% during the 1st quarter. State of Wyoming now owns 95,382 shares of the company's stock valued at $60,000 after purchasing an additional 48,483 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of SelectQuote in the 2nd quarter valued at $51,000. Persistent Asset Partners Ltd purchased a new position in shares of SelectQuote in the second quarter worth about $57,000. Finally, Corient Private Wealth LP bought a new position in shares of SelectQuote in the second quarter worth approximately $71,000. 34.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented 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. Zacks Research upgraded SelectQuote from a "strong sell" rating to a "hold" rating in a research report on Monday, October 26th. Finally, Weiss Ratings lowered SelectQuote from a "sell (d+)" rating to a "sell (d)" rating in a research note 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, SelectQuote currently has an average rating of "Hold" and an average target price of $3.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.