SelectQuote, Inc. (NYSE:SLQT) Short Interest Update

Key Points

• SelectQuote’s short interest fell sharply in June, dropping 69.7% to 1.33 million shares as of June 30. That amounts to about 0.9% of shares outstanding and only 0.4 days to cover.
• The stock has been trading near the bottom of its recent range, closing at $0.77 with a 52-week low of $0.56 and high of $2.77. Its market cap is about $136.3 million, and it trades below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but cautious, with a consensus rating of “Hold” and a consensus target price of $3.00. SelectQuote recently beat EPS expectations, but revenue came in slightly below forecasts and analysts expect a small loss for the current year.

SelectQuote, Inc. (NYSE:SLQT - Get Free Report) was the recipient of a significant decline in short interest in June. As of June 30th, there was short interest totaling 1,330,729 shares, a decline of 69.7% from the June 15th total of 4,394,898 shares. Based on an average daily trading volume, of 3,293,561 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.9% of the shares of the stock are short sold.

SelectQuote Price Performance

NYSE SLQT traded up $0.00 during trading hours on Friday, reaching $0.77. The company's stock had a trading volume of 690,972 shares, compared to its average volume of 2,128,296. The stock has a market cap of $136.32 million, a PE ratio of 8.59 and a beta of 1.64. SelectQuote has a fifty-two week low of $0.56 and a fifty-two week high of $2.77. The company's 50-day moving average is $0.96 and its two-hundred day moving average is $0.99. The company has a debt-to-equity ratio of 0.92, a quick ratio of 5.63 and a current ratio of 5.63.

SelectQuote (NYSE:SLQT - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.17. SelectQuote had a net margin of 5.60% and a return on equity of 20.49%. The company had revenue of $430.93 million during the quarter, compared to analysts' expectations of $438.93 million. Analysts forecast that SelectQuote will post -0.03 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on SLQT. Noble Financial upgraded shares of SelectQuote to a "strong-buy" rating in a research report on Wednesday, May 6th. Zacks Research downgraded shares of SelectQuote from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings raised SelectQuote from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday. One 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.com, the company has a consensus rating of "Hold" and a consensus target price of $3.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SLQT. Empowered Funds LLC grew its holdings in SelectQuote by 10.4% during the 1st quarter. Empowered Funds LLC now owns 491,568 shares of the company's stock valued at $309,000 after buying an additional 46,258 shares during the last quarter. Renaissance Technologies LLC increased its position 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 buying an additional 909,939 shares in the last quarter. State of Wyoming raised 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 last quarter. GatePass Capital LLC raised its holdings in shares of SelectQuote by 150.6% in the first 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 last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of SelectQuote by 1,166.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 51,599 shares of the company's stock valued at $73,000 after acquiring an additional 47,524 shares in the last quarter. 34.59% of the stock is currently owned by institutional investors and hedge funds.

About SelectQuote

SelectQuote, Inc NYSE: SLQT is a U.S.-based insurance brokerage and lead generation company that connects consumers with a range of insurance products through proprietary technology and licensed agents. The company specializes in life insurance, supplemental health coverage and Medicare plans, leveraging its digital platform and call center operations to help individuals compare policies and find cost-effective solutions tailored to their needs.

Through a single point of contact, policy seekers can evaluate offerings from multiple carriers, including term life, whole life, accidental death, critical illness and long-term care products.

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