SelectQuote (NYSE:SLQT) Announces Quarterly Earnings Results, Meets Expectations

SelectQuote (NYSE:SLQTGet Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.29) earnings per share for the quarter, hitting the consensus estimate of ($0.29), MarketWatch Earnings reports. SelectQuote had a negative net margin of 5.84% and a negative return on equity of 13.03%. The company had revenue of $221.78 million for the quarter. SelectQuote updated its FY 2024 guidance to EPS.

SelectQuote Stock Down 3.3 %

NYSE:SLQT traded down $0.04 during mid-day trading on Friday, reaching $1.10. The company’s stock had a trading volume of 284,362 shares, compared to its average volume of 1,731,456. SelectQuote has a 1 year low of $0.51 and a 1 year high of $2.94. The stock has a fifty day moving average of $1.54 and a 200-day moving average of $1.73. The firm has a market capitalization of $183.66 million, a PE ratio of -1.63 and a beta of 0.52. The company has a quick ratio of 8.70, a current ratio of 8.40 and a debt-to-equity ratio of 1.92.

Institutional Trading of SelectQuote

A number of hedge funds have recently added to or reduced their stakes in SLQT. Swiss National Bank raised its holdings in SelectQuote by 8.0% in the first quarter. Swiss National Bank now owns 135,700 shares of the company’s stock worth $379,000 after purchasing an additional 10,000 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in SelectQuote by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 99,300 shares of the company’s stock worth $278,000 after purchasing an additional 15,608 shares in the last quarter. Citigroup Inc. raised its holdings in SelectQuote by 8.8% in the first quarter. Citigroup Inc. now owns 105,343 shares of the company’s stock worth $294,000 after purchasing an additional 8,497 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in SelectQuote by 102.6% in the first quarter. PNC Financial Services Group Inc. now owns 13,523 shares of the company’s stock worth $37,000 after purchasing an additional 6,848 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in SelectQuote by 4.9% in the first quarter. Rhumbline Advisers now owns 315,867 shares of the company’s stock worth $881,000 after purchasing an additional 14,658 shares in the last quarter. 49.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price objective on shares of SelectQuote in a research note on Thursday.

Read Our Latest Stock Analysis on SelectQuote

About SelectQuote

(Get Free Report)

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 policies, including prescription drugs, dental, vision, and hearing plans; term life policies; and non-commercial auto and home property, and casualty policies.

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Earnings History for SelectQuote (NYSE:SLQT)

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