SelectQuote (NYSE:SLQT) Stock: Insider William Thomas Grant III Purchases 79,600 Shares

Key Points

• SelectQuote COO William Grant III purchased 79,600 shares at an average $0.51 each, spending about $40,596 and increasing his stake by 2.35% to 3,468,094 shares.
• For the latest reported quarter, SelectQuote posted a loss of $0.21 per share, beating the $0.33 loss analysts expected; revenue of $280.01 million also exceeded consensus.
• Shares were recently trading at $0.46, near the lower end of their 12-month range of $0.30–$1.76. Analysts’ consensus rating was Hold, with a $3.00 average price target.

SelectQuote, Inc. (NYSE:SLQT - Get Free Report) COO William Grant, III bought 79,600 shares of the company's stock in a transaction on Friday, November 6th. The shares were bought at an average price of $0.51 per share, for a total transaction of $40,596.00. Following the completion of the acquisition, the chief operating officer directly owned 3,468,094 shares in the company, valued at approximately $1,768,727.94. This trade represents a 2.35% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

SelectQuote Stock Up 2.6%

Shares of SLQT traded up $0.01 during midday trading on Tuesday, hitting $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 50 day simple moving average of $0.42 and a two-hundred day simple moving average of $0.75. SelectQuote, Inc. has a twelve month low of $0.30 and a twelve month high of $1.76. The firm has a market cap of $82.28 million, a price-to-earnings 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 (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 firm had revenue of $280.01 million during the quarter, compared to the consensus estimate of $277.91 million. On average, analysts anticipate that SelectQuote, Inc. will post -0.25 EPS for the current year.

Institutional Investors Weigh In On SelectQuote

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of SelectQuote in the 2nd quarter valued at about $1,836,000. Renaissance Technologies LLC grew its position 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 valued at $643,000 after acquiring an additional 909,939 shares during the period. GSA Capital Partners LLP bought a new stake in SelectQuote in the 2nd quarter valued at about $1,123,000. State of Wyoming boosted its holdings in shares of SelectQuote by 103.4% in the first quarter. State of Wyoming now owns 95,382 shares of the company's stock worth $60,000 after acquiring an additional 48,483 shares during the period. Finally, GatePass Capital LLC increased its holdings in SelectQuote by 150.6% during the 1st quarter. GatePass Capital LLC now owns 526,700 shares of the company's stock worth $332,000 after acquiring an additional 316,500 shares during the period. Institutional investors own 34.59% of the company's stock.

Analyst Upgrades and Downgrades

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

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