Insider Buying: SelectQuote (NYSE:SLQT) President Acquires $40,698.51 in Stock

SelectQuote, Inc. (NYSE:SLQT) President Robert Grant bought 79,801 shares of the company’s stock in a transaction on Friday, November 6th. The shares were acquired at an average cost of $0.51 per share, for a total transaction of $40,698.51. Following the completion of the acquisition, the president directly owned 3,386,491 shares of the company’s stock, valued at $1,727,110.41. This trade represents a 2.41% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

SelectQuote Trading Down 3.7%

SelectQuote stock opened at $0.49 on Friday. The company has a market cap of $87.57 million, a P/E ratio of 50.70 and a beta of 2.01. SelectQuote, Inc. has a 1 year low of $0.30 and a 1 year high of $1.76. The firm’s 50-day moving average is $0.42 and its 200-day moving average is $0.74. The company has a debt-to-equity ratio of 1.16, a quick ratio of 7.48 and a current ratio of 7.48.

SelectQuote (NYSE:SLQT) last issued its earnings results on Wednesday, November 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.12. SelectQuote had a net margin of 4.61% and a return on equity of 22.48%. The firm had revenue of $280.01 million for the quarter, compared to analysts’ expectations of $277.91 million. On average, equities analysts expect that SelectQuote, Inc. will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of SelectQuote in the second quarter valued at approximately $1,836,000. GSA Capital Partners LLP bought a new stake in shares of SelectQuote during the second quarter valued at approximately $1,123,000. Renaissance Technologies LLC boosted its position in shares of SelectQuote by 817.6% during the first quarter. Renaissance Technologies LLC now owns 1,021,239 shares of the company’s stock worth $643,000 after buying an additional 909,939 shares during the period. Squarepoint Ops LLC acquired a new position in shares of SelectQuote during the second quarter worth approximately $536,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in SelectQuote in the 2nd quarter worth approximately $461,000. Institutional investors own 34.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on SLQT shares. Weiss Ratings downgraded SelectQuote from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. Wall Street Zen cut SelectQuote from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Finally, Zacks Research raised shares of SelectQuote from a “strong sell” rating to a “hold” rating in a report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, SelectQuote presently has an average rating of “Hold” and an average target price of $3.00.

About SelectQuote

SelectQuote, Inc. (NYSE: SLQT) operates a technology-enabled insurance distribution platform that helps consumers compare and purchase insurance products from third-party carriers. The company combines digital tools, proprietary data and licensed agents to connect customers with coverage suited to their needs. SelectQuote’s primary business is its Senior segment, which provides access to Medicare Advantage, Medicare Supplement and prescription drug plans. The company has also historically offered life insurance, as well as auto and home insurance, through its Life and Auto & Home businesses.