SelectQuote (NYSE:SLQT) Hits New 12-Month High Following Strong Earnings

SelectQuote, Inc. (NYSE:SLQT)’s share price reached a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The stock 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 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.21. SelectQuote had a negative return on equity of 15.00% and a negative net margin of 3.45%.

Analysts Set New Price Targets

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

Institutional Trading of SelectQuote

Several large investors have recently bought and sold shares of SLQT. Oppenheimer & Co. Inc. bought a new stake in shares of SelectQuote during the fourth quarter worth about $47,000. Cibc World Markets Corp acquired a new stake in SelectQuote during the 4th quarter worth approximately $47,000. Mason Investment Advisory Services Inc. grew its holdings in SelectQuote by 33.3% during the 3rd quarter. Mason Investment Advisory Services Inc. now owns 20,000 shares of the company’s stock worth $43,000 after acquiring an additional 5,000 shares during the last quarter. Raymond James Financial Inc. acquired a new position in SelectQuote in the 4th quarter valued at approximately $97,000. Finally, Intech Investment Management LLC bought a new position in shares of SelectQuote during the third quarter valued at $123,000. 34.59% of the stock is owned by institutional investors and hedge funds.

SelectQuote Trading Up 30.8 %

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 market cap of $982.75 million, a price-to-earnings ratio of -20.46 and a beta of 1.15. The business’s fifty day moving average price is $3.76 and its 200 day moving average price is $3.11.

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.