SelectQuote (NYSE:SLQT) Hits New 52-Week High After Strong Earnings

Shares of SelectQuote, Inc. (NYSE:SLQT) hit a new 52-week high during trading 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 trading hands. The stock had previously closed at $4.38.

The company reported $0.30 EPS for the quarter, topping 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 reiterated a “sector perform” rating and issued a $4.00 target price on shares of SelectQuote in a report on Friday, November 22nd.

Institutional Investors Weigh In On SelectQuote

A number of large investors have recently modified their holdings of SLQT. Mason Investment Advisory Services Inc. boosted its position in 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 buying an additional 5,000 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of SelectQuote in the 4th quarter valued at about $47,000. Cibc World Markets Corp purchased a new position in SelectQuote during the fourth quarter worth approximately $47,000. Raymond James Financial Inc. acquired a new stake in SelectQuote in the fourth quarter valued at approximately $97,000. Finally, Intech Investment Management LLC purchased a new stake in shares of SelectQuote in the third quarter valued at approximately $123,000. Hedge funds and other institutional investors own 34.59% of the company’s stock.

SelectQuote Price Performance

The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 2.36. The firm has a market capitalization of $1.06 billion, a PE ratio of -23.39 and a beta of 1.15. The stock has a 50-day moving average price of $3.76 and a 200 day moving average price of $3.11.

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.