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

SelectQuote, Inc. (NYSE:SLQT) President Robert Grant purchased 79,801 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was bought at an average cost of $0.51 per share, with a total value of $40,698.51. Following the completion of the purchase, the president owned 3,386,491 shares of the company’s stock, valued at $1,727,110.41. This represents a 2.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

SelectQuote Stock Up 2.6%

SLQT stock traded up $0.01 on Tuesday, reaching $0.46. 547,605 shares of the company traded hands, compared to its average volume of 1,550,047. The firm has a fifty day simple moving average of $0.42 and a 200-day simple moving average of $0.75. The company has a debt-to-equity ratio of 1.16, a current ratio of 7.48 and a quick ratio of 6.57. The company has a market cap of $82.28 million, a P/E ratio of -15.30 and a beta of 2.01. SelectQuote, Inc. has a one year low of $0.30 and a one year high of $1.76.

SelectQuote (NYSE:SLQT) last announced its quarterly 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 company had revenue of $280.01 million for the quarter, compared to analysts’ expectations of $277.91 million. Research analysts anticipate that SelectQuote, Inc. will post -0.25 earnings per share for the current year.

Institutional Trading of SelectQuote

Institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC lifted its holdings in SelectQuote by 541.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 181,939 shares of the company’s stock valued at $74,000 after buying an additional 153,562 shares in the last quarter. SMH Capital Advisors Inc. purchased a new position in shares of SelectQuote during the third quarter valued at $47,000. Fragasso Financial Advisors Inc bought a new stake in shares of SelectQuote in the third quarter valued at about $61,000. Squarepoint Ops LLC bought a new stake in shares of SelectQuote in the second quarter valued at about $536,000. Finally, Hsbc Holdings PLC lifted its stake in SelectQuote by 850.0% in the second quarter. Hsbc Holdings PLC now owns 122,430 shares of the company’s stock worth $102,000 after acquiring an additional 109,543 shares during the period. 34.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.