SelectQuote (NYSE:SLQT) Shares Gap Up – Time to Buy?

SelectQuote, Inc. (NYSE:SLQT)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $2.76, but opened at $3.00. SelectQuote shares last traded at $3.26, with a volume of 895,449 shares.

Wall Street Analyst Weigh In

SLQT has been the topic of a number of recent analyst reports. Craig Hallum initiated coverage on shares of SelectQuote in a report on Monday, September 30th. They issued a “buy” rating and a $4.50 price target on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.00 price target on shares of SelectQuote in a research note on Friday, November 22nd.

SelectQuote Stock Up 17.8 %

The company’s 50-day moving average is $2.44 and its two-hundred day moving average is $2.89. 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 $557.41 million, a P/E ratio of -12.04 and a beta of 1.22.

SelectQuote (NYSE:SLQT) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). SelectQuote had a negative net margin of 3.45% and a negative return on equity of 15.00%. The company had revenue of $292.26 million for the quarter, compared to analysts’ expectations of $275.15 million. During the same period in the previous year, the business earned ($0.19) EPS. As a group, equities analysts predict that SelectQuote, Inc. will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SelectQuote

Institutional investors and hedge funds have recently made changes to their positions in the business. Panagora Asset Management Inc. boosted its holdings in SelectQuote by 85.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 410,009 shares of the company’s stock worth $1,132,000 after buying an additional 189,029 shares during the period. KCM Investment Advisors LLC bought a new position in shares of SelectQuote in the third quarter worth about $608,000. Creative Planning grew its position in shares of SelectQuote by 6.6% during the third quarter. Creative Planning now owns 100,019 shares of the company’s stock worth $217,000 after purchasing an additional 6,150 shares in the last quarter. Bank of New York Mellon Corp raised its stake in SelectQuote by 14.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 472,849 shares of the company’s stock valued at $1,305,000 after purchasing an additional 58,481 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in SelectQuote by 18.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,414 shares of the company’s stock worth $83,000 after purchasing an additional 6,555 shares during the period. Hedge funds and other institutional investors own 34.59% of the company’s stock.

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.