SelectQuote (NYSE:SLQT) Trading 1.1% Higher - Still a Buy?

Key Points

• SelectQuote shares rose 1.1% to $0.7550 in mid-day trading, although volume was 52% below the average. The stock remains below its 50-day and 200-day moving averages of $0.84 and $0.92, respectively.
• Analyst sentiment is mixed: one analyst rates the stock a Strong Buy, two rate it Hold and one rates it Sell. MarketBeat’s consensus rating is Hold, with an average price target of $3.00.
• SelectQuote beat quarterly EPS expectations, reporting $0.15 versus the $0.02 loss analysts expected, while revenue of $430.93 million fell short of estimates. Hedge funds and institutional investors own 34.59% of the company.

SelectQuote, Inc. (NYSE:SLQT - Get Free Report) shares were up 1.1% during mid-day trading on Monday . The stock traded as high as $0.81 and last traded at $0.7550. Approximately 458,770 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 965,278 shares. The stock had previously closed at $0.7470.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SLQT shares. Noble Financial upgraded shares of SelectQuote to a "strong-buy" rating in a research note on Wednesday, May 6th. Zacks Research lowered shares of SelectQuote from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings raised shares of SelectQuote from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, SelectQuote has a consensus rating of "Hold" and an average price target of $3.00.

SelectQuote Stock Performance

The stock has a 50 day moving average of $0.84 and a two-hundred day moving average of $0.92. The stock has a market capitalization of $133.14 million, a PE ratio of 8.39 and a beta of 1.66. The company has a debt-to-equity ratio of 0.92, a current ratio of 5.63 and a quick ratio of 5.63.

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

Hedge Funds Weigh In On SelectQuote

A number of large investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in SelectQuote during the third quarter worth about $27,000. CIBC Bancorp USA Inc. purchased a new position in SelectQuote in the third quarter valued at about $29,000. Aquatic Capital Management LLC purchased a new position in SelectQuote in the third quarter valued at about $29,000. Russell Investments Group Ltd. increased its holdings in SelectQuote by 90.7% in the second quarter. Russell Investments Group Ltd. now owns 16,133 shares of the company's stock valued at $38,000 after buying an additional 7,675 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of SelectQuote during the 3rd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 34.59% of the company's stock.

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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