SelectQuote (NYSE:SLQT) COO William Thomas Grant III Buys 79,600 Shares of Company Stock

SelectQuote, Inc. (NYSE:SLQT) COO William Grant, III bought 79,600 shares of the business’s stock in a transaction dated Friday, November 6th. The stock was purchased at an average price of $0.51 per share, for a total transaction of $40,596.00. Following the acquisition, the chief operating officer directly owned 3,468,094 shares of the company’s stock, valued at approximately $1,768,727.94. The trade was a 2.35% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

SelectQuote Trading Up 2.6%

NYSE:SLQT opened at $0.46 on Wednesday. The firm has a market capitalization of $82.36 million, a P/E ratio of 44.73 and a beta of 2.01. SelectQuote, Inc. has a 52 week low of $0.30 and a 52 week high of $1.76. The company has a quick ratio of 7.48, a current ratio of 7.48 and a debt-to-equity ratio of 1.16. The company has a fifty day moving average of $0.42 and a 200 day moving average of $0.75.

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

Hedge Funds Weigh In On SelectQuote

Large investors have recently made changes to their positions in the business. EP Wealth Advisors LLC bought a new stake in shares of SelectQuote in the 2nd quarter worth approximately $51,000. Persistent Asset Partners Ltd purchased a new position in SelectQuote during the second quarter valued at $57,000. Corient Private Wealth LP purchased a new position in SelectQuote during the second quarter valued at $71,000. State of Wyoming boosted its holdings in SelectQuote by 103.4% in the first quarter. State of Wyoming now owns 95,382 shares of the company’s stock worth $60,000 after acquiring an additional 48,483 shares in the last quarter. Finally, SMH Capital Advisors Inc. bought a new stake in SelectQuote in the third quarter worth $47,000. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Key Stories Impacting SelectQuote

Here are the key news stories impacting SelectQuote this week:

• Positive Sentiment: Executives and directors bought a combined 919,905 shares for about $447,000 in transactions on November 6 and 9. Purchasers included the CEO, president, COO, and two directors; the largest reported purchase was 409,836 shares by Director Raymond F. Weldon. Broad insider buying may signal confidence, though it does not guarantee improved results. SEC filing SEC filing
• Neutral Sentiment: A report says SelectQuote placed fewer Medicare policies but earned more on each one. Higher per-policy earnings may partly offset weaker policy volume, but the article details provided do not establish the overall effect on revenue or profit. SelectQuote places fewer Medicare policies but earns more on each one

SelectQuote Company Profile

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.