SelectQuote (NYSE:SLQT) Stock Price Breaks Above 50 Day Moving Average – Here’s Why

SelectQuote, Inc. (NYSE:SLQT)’s share price 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 traded.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Weiss Ratings cut shares of SelectQuote from a “sell (d+)” rating to a “sell (d)” rating in a research note 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 raised shares of SelectQuote from a “strong sell” rating to a “hold” rating in a report on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.00.

SelectQuote Stock Up 18.8%

The firm’s 50 day moving average is $0.43 and its two-hundred day moving average is $0.77. 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.

SelectQuote (NYSE:SLQT) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.12. SelectQuote had a net margin of 3.84% and a return on equity of 19.70%. The business had revenue of $280.01 million for the quarter, compared to the consensus estimate of $277.91 million. On average, sell-side analysts predict that SelectQuote, Inc. will post -0.20 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. EP Wealth Advisors LLC acquired a new stake in shares of SelectQuote during the second quarter worth $51,000. Persistent Asset Partners Ltd purchased a new stake in shares of SelectQuote in the second quarter valued at $57,000. Corient Private Wealth LP purchased a new stake in shares of SelectQuote in the second quarter valued at $71,000. State of Wyoming increased its stake in SelectQuote by 103.4% in the first quarter. State of Wyoming now owns 95,382 shares of the company’s stock valued at $60,000 after purchasing an additional 48,483 shares during the last quarter. Finally, SMH Capital Advisors Inc. acquired a new position in SelectQuote in the third quarter valued at $47,000. Hedge funds and other institutional investors own 34.59% of the company’s stock.

About SelectQuote

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.