SelectQuote (NYSE:SLQT) Trading Up 4.6% – Time to Buy?

SelectQuote, Inc. (NYSE:SLQT)’s share price was up 4.6% on Wednesday . The company traded as high as $0.89 and last traded at $0.88. Approximately 1,116,564 shares traded hands during trading, a decline of 51% from the average session volume of 2,276,299 shares. The stock had previously closed at $0.8411.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SLQT shares. Zacks Research downgraded SelectQuote from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Weiss Ratings cut SelectQuote from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Finally, Noble Financial raised SelectQuote to a “strong-buy” rating in a research note on Wednesday, May 6th. One 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.00.

SelectQuote Stock Up 1.3%

The business’s 50 day simple moving average is $0.97 and its 200 day simple moving average is $1.02. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $141.25 million, a PE ratio of 8.90 and a beta of 1.64.

SelectQuote (NYSE:SLQT) last announced its earnings results on Tuesday, May 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.17. The firm had revenue of $430.93 million for the quarter, compared to analysts’ expectations of $438.93 million. SelectQuote had a net margin of 5.60% and a return on equity of 20.49%. On average, equities research analysts forecast that SelectQuote, Inc. will post -0.03 earnings per share for the current year.

Institutional Trading of SelectQuote

A number of institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its stake in SelectQuote by 37.8% in the first quarter. AQR Capital Management LLC now owns 53,081 shares of the company’s stock worth $177,000 after purchasing an additional 14,551 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in SelectQuote by 6.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,854 shares of the company’s stock worth $273,000 after purchasing an additional 4,947 shares in the last quarter. Caxton Associates LLP bought a new position in SelectQuote in the first quarter worth about $172,000. Acadian Asset Management LLC purchased a new stake in shares of SelectQuote during the first quarter valued at about $514,000. Finally, Creative Planning lifted its position in shares of SelectQuote by 8.5% during the second quarter. Creative Planning now owns 121,597 shares of the company’s stock valued at $289,000 after buying an additional 9,504 shares during the last quarter. 34.59% of the stock is currently owned by institutional investors.

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.