SelectQuote, Inc. (NYSE:SLQT) Sees Large Drop in Short Interest

SelectQuote, Inc. (NYSE:SLQT) was the recipient of a significant decline in short interest in February. As of February 15th, there was short interest totalling 1,570,000 shares, a decline of 33.8% from the January 31st total of 2,370,000 shares. Based on an average trading volume of 1,730,000 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.2% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Noble Financial upgraded SelectQuote to a “strong-buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.00 target price on shares of SelectQuote in a research report on Friday, November 22nd.

Insiders Place Their Bets

In related news, insider Sarah Taylor Anderson sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $5.44, for a total transaction of $272,000.00. Following the completion of the sale, the insider now directly owns 1,166 shares in the company, valued at approximately $6,343.04. This trade represents a 97.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 11.40% of the stock is owned by company insiders.

Institutional Trading of SelectQuote

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC lifted its stake in SelectQuote by 166.8% in the 3rd quarter. Barclays PLC now owns 198,357 shares of the company’s stock worth $430,000 after acquiring an additional 124,005 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of SelectQuote by 36.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 429,656 shares of the company’s stock valued at $932,000 after purchasing an additional 115,865 shares during the period. KCM Investment Advisors LLC acquired a new position in shares of SelectQuote in the 3rd quarter valued at about $608,000. SG Americas Securities LLC lifted its position in shares of SelectQuote by 10.5% in the fourth quarter. SG Americas Securities LLC now owns 91,508 shares of the company’s stock worth $340,000 after purchasing an additional 8,660 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of SelectQuote by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,081,391 shares of the company’s stock worth $6,688,000 after purchasing an additional 43,197 shares during the period. Institutional investors and hedge funds own 34.59% of the company’s stock.

SelectQuote Trading Down 6.6 %

Shares of SLQT traded down $0.30 during midday trading on Monday, hitting $4.26. The stock had a trading volume of 1,850,892 shares, compared to its average volume of 1,236,197. The business has a 50-day simple moving average of $4.41 and a two-hundred day simple moving average of $3.28. The firm has a market cap of $733.33 million, a P/E ratio of -47.33 and a beta of 1.15. The company has a current ratio of 6.36, a quick ratio of 6.36 and a debt-to-equity ratio of 2.10. SelectQuote has a fifty-two week low of $1.48 and a fifty-two week high of $6.86.

SelectQuote (NYSE:SLQT) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.09 by $0.21. SelectQuote had a negative net margin of 0.95% and a negative return on equity of 4.38%. As a group, equities analysts forecast that SelectQuote will post -0.07 EPS for the current year.

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.