SelectQuote (NYSE:SLQT) Posts Earnings Results, Hits Estimates

SelectQuote (NYSE:SLQT) posted its quarterly earnings data on Wednesday. The company reported ($0.29) EPS for the quarter, hitting analysts’ consensus estimates of ($0.29), MarketWatch Earnings reports. The business had revenue of $221.78 million for the quarter. SelectQuote had a negative return on equity of 13.03% and a negative net margin of 5.84%. SelectQuote updated its FY 2024 guidance to EPS.

SelectQuote Stock Performance

Shares of SLQT opened at $1.14 on Friday. The company has a quick ratio of 8.70, a current ratio of 8.40 and a debt-to-equity ratio of 1.92. The stock’s 50-day moving average price is $1.54 and its 200 day moving average price is $1.73. The firm has a market capitalization of $189.99 million, a price-to-earnings ratio of -1.63 and a beta of 0.52. SelectQuote has a 12-month low of $0.51 and a 12-month high of $2.94.

Institutional Investors Weigh In On SelectQuote

A number of institutional investors have recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC boosted its holdings in SelectQuote by 302,110.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 140,754,577 shares of the company’s stock valued at $94,573,000 after purchasing an additional 140,708,002 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of SelectQuote by 2.0% in the 1st quarter. BlackRock Inc. now owns 19,693,869 shares of the company’s stock worth $54,946,000 after acquiring an additional 387,955 shares in the last quarter. State Street Corp boosted its holdings in shares of SelectQuote by 0.6% in the 3rd quarter. State Street Corp now owns 4,368,236 shares of the company’s stock worth $3,189,000 after acquiring an additional 25,215 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of SelectQuote by 93.8% in the 4th quarter. Millennium Management LLC now owns 3,480,077 shares of the company’s stock worth $2,338,000 after acquiring an additional 1,684,249 shares in the last quarter. Finally, Mariner LLC boosted its holdings in shares of SelectQuote by 7.1% in the 4th quarter. Mariner LLC now owns 2,929,240 shares of the company’s stock worth $1,968,000 after acquiring an additional 194,909 shares in the last quarter. 49.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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