Insider Buying: SelectQuote (NYSE:SLQT) Director Acquires 223,402 Shares of Company Stock

SelectQuote, Inc. (NYSE:SLQT) Director Donald Hawks III purchased 223,402 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were acquired at an average cost of $0.46 per share, with a total value of $102,764.92. Following the completion of the transaction, the director owned 763,214 shares in the company, valued at $351,078.44. This trade represents a 41.39% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

SelectQuote Stock Up 2.6%

NYSE:SLQT traded up $0.01 during mid-day trading on Tuesday, hitting $0.46. The company had a trading volume of 547,605 shares, compared to its average volume of 1,550,047. The business has a fifty day simple moving average of $0.42 and a 200-day simple moving average of $0.75. The company has a current ratio of 7.48, a quick ratio of 6.57 and a debt-to-equity ratio of 1.16. SelectQuote, Inc. has a 1 year low of $0.30 and a 1 year high of $1.76. The firm has a market capitalization of $82.28 million, a price-to-earnings ratio of -15.30 and a beta of 2.01.

SelectQuote (NYSE:SLQT) last posted its earnings results on Wednesday, November 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.12. The business had revenue of $280.01 million during the quarter, compared to analyst estimates of $277.91 million. SelectQuote had a return on equity of 22.48% and a net margin of 4.61%. Equities analysts forecast that SelectQuote, Inc. will post -0.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SLQT. Wall Street Zen downgraded shares of SelectQuote from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Zacks Research raised shares of SelectQuote from a “strong sell” rating to a “hold” rating in a research note on Monday, October 26th. Finally, Weiss Ratings cut shares of SelectQuote from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. One investment 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.00.

Institutional Trading of SelectQuote

A number of large investors have recently modified their holdings of SLQT. BlackRock Inc. acquired a new stake in SelectQuote in the 2nd quarter valued at approximately $1,836,000. Renaissance Technologies LLC raised its stake in SelectQuote by 817.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,021,239 shares of the company’s stock valued at $643,000 after purchasing an additional 909,939 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of SelectQuote in the second quarter worth approximately $1,123,000. State of Wyoming boosted its position in SelectQuote by 103.4% during 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, GatePass Capital LLC lifted its stake in SelectQuote by 150.6% in the first quarter. GatePass Capital LLC now owns 526,700 shares of the company’s stock valued at $332,000 after acquiring an additional 316,500 shares during the last quarter. Institutional investors and hedge funds 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.