SelectQuote (NYSE:SLQT) Reaches New 52-Week High Following Strong Earnings

SelectQuote, Inc. (NYSE:SLQT)’s share price hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $6.25 and last traded at $6.37, with a volume of 5810441 shares. The stock had previously closed at $4.38.

The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.21. SelectQuote had a negative net margin of 3.45% and a negative return on equity of 15.00%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On SelectQuote

A number of large investors have recently modified their holdings of the business. KCM Investment Advisors LLC acquired a new position in shares of SelectQuote in the third quarter worth $608,000. Dimensional Fund Advisors LP boosted its stake in shares of SelectQuote by 158.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 278,224 shares of the company’s stock worth $768,000 after purchasing an additional 170,726 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of SelectQuote by 23.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 772,831 shares of the company’s stock worth $2,875,000 after buying an additional 149,283 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of SelectQuote in the third quarter valued at approximately $311,000. Finally, Barclays PLC lifted its stake in shares of SelectQuote by 166.8% during the third quarter. Barclays PLC now owns 198,357 shares of the company’s stock valued at $430,000 after buying an additional 124,005 shares during the period. 34.59% of the stock is owned by hedge funds and other institutional investors.

SelectQuote Stock Performance

The stock’s 50-day moving average is $3.76 and its 200-day moving average is $3.11. 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 stock has a market cap of $1.06 billion, a price-to-earnings ratio of -23.39 and a beta of 1.15.

About SelectQuote

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.