SelectQuote (NYSE:SLQT) Trading 8.2% Higher – Time to Buy?

SelectQuote, Inc. (NYSE:SLQT) shares rose 8.2% during mid-day trading on Tuesday . The stock traded as high as $4.36 and last traded at $4.44. Approximately 224,437 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 1,094,471 shares. The stock had previously closed at $4.10.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.00 price objective on shares of SelectQuote in a report on Friday, November 22nd.

SelectQuote Stock Performance

The stock’s 50-day simple moving average is $3.61 and its 200-day simple moving average is $3.10. The stock has a market cap of $757.22 million, a price-to-earnings ratio of -15.62 and a beta of 1.15. The company has a current ratio of 6.66, a quick ratio of 6.66 and a debt-to-equity ratio of 2.36.

SelectQuote (NYSE:SLQT) last announced its earnings results on Monday, November 4th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The company had revenue of $292.26 million for the quarter, compared to the consensus estimate of $275.15 million. SelectQuote had a negative return on equity of 15.00% and a negative net margin of 3.45%. During the same period in the prior year, the business earned ($0.19) earnings per share. Analysts forecast that SelectQuote, Inc. will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SelectQuote

A number of large investors have recently modified their holdings of SLQT. Mason Investment Advisory Services Inc. boosted its position in SelectQuote by 33.3% in the third quarter. Mason Investment Advisory Services Inc. now owns 20,000 shares of the company’s stock worth $43,000 after purchasing an additional 5,000 shares during the last quarter. Intech Investment Management LLC bought a new stake in SelectQuote during the third quarter valued at approximately $123,000. Algert Global LLC grew its stake in SelectQuote by 147.1% in the 2nd quarter. Algert Global LLC now owns 50,429 shares of the company’s stock worth $139,000 after buying an additional 30,019 shares in the last quarter. Virtu Financial LLC bought a new position in shares of SelectQuote in the 3rd quarter worth $150,000. Finally, Quantbot Technologies LP bought a new stake in shares of SelectQuote during the 3rd quarter worth $153,000. 34.59% of the stock is currently owned by institutional investors.

About SelectQuote

SelectQuote, Inc operates a technology-enabled, direct-to-consumer distribution platform that sells a range of insurance products and healthcare services in the United States. The company operates through three segments: Senior; Life; and Auto & Home. It distributes senior health policies, such as medicare advantage, medicare supplement, medicare part D, and other ancillary senior health insurance related products, including prescription drugs, dental, vision, and hearing plans; life insurance products, such as term life, final expense, and other ancillary products, including critical illness, accidental death, and juvenile insurance; homeowners, auto, dwelling fire, and other ancillary insurance products; and non-commercial auto and home property, and casualty policies.