SelectQuote (NYSE:SLQT) Stock Price Crosses Above 50 Day Moving Average - What's Next?

Key Points

• SelectQuote shares moved above their 50-day moving average of $0.43, reaching $0.5451 before last trading at $0.487; the 200-day average is $0.77.
• Analyst views are mixed, but the overall rating is Hold, with an average price target of $3.00.
• Quarterly results beat expectations: SelectQuote reported a loss of $0.21 per share versus forecasts for a $0.33 loss, while revenue of $280.01 million exceeded estimates of $277.91 million.

Shares of SelectQuote, Inc. (NYSE:SLQT - Get Free Report) crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $0.43 and traded as high as $0.5451. SelectQuote shares last traded at $0.4870, with a volume of 5,511,386 shares.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen cut SelectQuote from a "hold" rating to a "sell" rating in a research report on Saturday, August 29th. Weiss Ratings cut 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 research note on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $3.00.

SelectQuote Stock Performance

The company has a current ratio of 6.57, a quick ratio of 6.57 and a debt-to-equity ratio of 0.99. The stock has a market cap of $87.30 million, a price-to-earnings ratio of -6.09 and a beta of 2.01. The stock's 50 day moving average is $0.43 and its two-hundred day moving average is $0.77.

SelectQuote (NYSE:SLQT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.21) EPS for the quarter, beating analysts' consensus estimates of ($0.33) by $0.12. SelectQuote had a net margin of 3.84% and a return on equity of 19.70%. The company had revenue of $280.01 million for the quarter, compared to analyst estimates of $277.91 million. Analysts anticipate that SelectQuote, Inc. will post -0.20 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SelectQuote

Several institutional investors have recently added to or reduced their stakes in SLQT. BlackRock Inc. acquired a new stake in SelectQuote during the 2nd quarter worth approximately $1,836,000. GSA Capital Partners LLP acquired a new position in shares of SelectQuote in the second quarter valued at approximately $1,123,000. Renaissance Technologies LLC increased its holdings in shares of SelectQuote by 817.6% in the first quarter. Renaissance Technologies LLC now owns 1,021,239 shares of the company's stock valued at $643,000 after purchasing an additional 909,939 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of SelectQuote during the second quarter worth approximately $536,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of SelectQuote during the second quarter worth approximately $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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