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

SelectQuote (NYSE:SLQT) released its quarterly earnings data on Wednesday. The company reported ($0.29) earnings per share (EPS) for the quarter, meeting 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 during the quarter. SelectQuote updated its FY 2024 guidance to EPS.

SelectQuote Stock Performance

Shares of SLQT stock opened at $1.14 on Friday. The business’s 50 day moving average is $1.54 and its two-hundred day moving average is $1.73. SelectQuote has a twelve month low of $0.51 and a twelve month high of $2.94. The company has a current ratio of 8.40, a quick ratio of 8.70 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $189.99 million, a P/E ratio of -1.63 and a beta of 0.52.

Hedge Funds Weigh In On SelectQuote

A number of large investors have recently bought and sold shares of the company. FMR LLC increased its stake in shares of SelectQuote by 271.2% during the first quarter. FMR LLC now owns 11,862 shares of the company’s stock worth $26,000 after acquiring an additional 8,666 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new stake in SelectQuote in the 3rd quarter valued at approximately $28,000. Capstone Financial Advisors Inc. purchased a new stake in SelectQuote in the 2nd quarter valued at approximately $29,000. Franklin Resources Inc. acquired a new position in SelectQuote during the 2nd quarter worth approximately $31,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of SelectQuote by 102.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,523 shares of the company’s stock worth $37,000 after buying an additional 6,848 shares in the last quarter. Hedge funds and other institutional investors own 49.41% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 price objective on shares of SelectQuote in a report on Thursday.

About SelectQuote

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.