SelectQuote (NYSE:SLQT) Trading 8.2% Higher – Here’s What Happened

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

Analysts Set New Price Targets

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

SelectQuote Trading Up 7.7 %

The firm has a market capitalization of $757.22 million, a PE ratio of -15.62 and a beta of 1.15. The company has a debt-to-equity ratio of 2.36, a current ratio of 6.66 and a quick ratio of 6.66. The company has a fifty day moving average of $3.61 and a 200-day moving average of $3.10.

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

Institutional Trading of SelectQuote

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLQT. Mason Investment Advisory Services Inc. boosted its position in shares of SelectQuote by 33.3% in the third quarter. Mason Investment Advisory Services Inc. now owns 20,000 shares of the company’s stock valued at $43,000 after acquiring an additional 5,000 shares during the period. Algert Global LLC lifted its position in SelectQuote by 147.1% in the second quarter. Algert Global LLC now owns 50,429 shares of the company’s stock worth $139,000 after purchasing an additional 30,019 shares during the period. Intech Investment Management LLC acquired a new stake in shares of SelectQuote during the third quarter worth approximately $123,000. Virtu Financial LLC acquired a new stake in shares of SelectQuote in the third quarter valued at $150,000. Finally, Quantbot Technologies LP acquired a new position in SelectQuote during the 3rd quarter worth $153,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

SelectQuote Company Profile

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.