SelectQuote (NYSE:SLQT) Hits New 12-Month High – Time to Buy?

Shares of SelectQuote, Inc. (NYSE:SLQT) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $4.55 and last traded at $4.40, with a volume of 828284 shares trading hands. The stock had previously closed at $4.14.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SLQT. Royal Bank of Canada reissued a “sector perform” rating and set a $4.00 target price on shares of SelectQuote in a research note on Friday, November 22nd. Craig Hallum began coverage on shares of SelectQuote in a research note on Monday, September 30th. They issued a “buy” rating and a $4.50 price target for the company.

SelectQuote Price Performance

The stock has a market capitalization of $720.32 million, a price-to-earnings ratio of -15.00 and a beta of 1.14. The business’s fifty day moving average price is $2.84 and its 200-day moving average price is $2.94. The company has a debt-to-equity ratio of 2.36, a current ratio of 6.66 and a quick ratio of 6.66.

SelectQuote (NYSE:SLQT) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $275.15 million. During the same quarter last year, the firm posted ($0.19) earnings per share. On average, research analysts forecast that SelectQuote, Inc. will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in shares of SelectQuote by 36.9% in the third 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. Virtu Financial LLC purchased a new stake in shares of SelectQuote in the 3rd quarter valued at $150,000. Barclays PLC boosted its position in SelectQuote by 166.8% during the 3rd 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. Geode Capital Management LLC boosted its position in SelectQuote by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,081,391 shares of the company’s stock valued at $6,688,000 after buying an additional 43,197 shares during the period. Finally, State Street Corp raised its holdings in SelectQuote by 0.7% in the 3rd quarter. State Street Corp now owns 2,894,067 shares of the company’s stock worth $6,280,000 after purchasing an additional 21,413 shares in the last quarter. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

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.