Insider Buying: SelectQuote (NYSE:SLQT) Director Acquires $200,819.64 in Stock

SelectQuote, Inc. (NYSE:SLQT) Director Raymond Weldon acquired 409,836 shares of SelectQuote stock in a transaction dated Friday, November 6th. The shares were bought at an average cost of $0.49 per share, for a total transaction of $200,819.64. Following the completion of the purchase, the director directly owned 923,050 shares of the company’s stock, valued at approximately $452,294.50. The trade was a 79.86% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

SelectQuote Stock Down 3.7%

SLQT opened at $0.49 on Friday. The company has a market cap of $87.57 million, a P/E ratio of 50.70 and a beta of 2.01. The business’s 50-day moving average price is $0.42 and its 200-day moving average price is $0.74. The company has a current ratio of 7.48, a quick ratio of 7.48 and a debt-to-equity ratio of 1.16. SelectQuote, Inc. has a 12 month low of $0.30 and a 12 month high of $1.76.

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

Analyst Ratings Changes

A number of brokerages have issued reports on SLQT. Weiss Ratings lowered shares of SelectQuote from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 17th. Wall Street Zen lowered shares of SelectQuote from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Finally, Zacks Research upgraded 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 issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.00.

Hedge Funds Weigh In On SelectQuote

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in SelectQuote in the second quarter valued at $1,836,000. GSA Capital Partners LLP purchased a new stake in SelectQuote in the second quarter worth about $1,123,000. Renaissance Technologies LLC lifted its holdings in SelectQuote by 817.6% in the first quarter. Renaissance Technologies LLC now owns 1,021,239 shares of the company’s stock worth $643,000 after buying an additional 909,939 shares during the period. Squarepoint Ops LLC purchased a new stake in SelectQuote in the second quarter worth about $536,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in SelectQuote during the 2nd quarter valued at approximately $461,000. 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.