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

SelectQuote (NYSE:SLQT) released its earnings results on Wednesday. The company reported ($0.29) earnings per share for the quarter, hitting analysts’ consensus estimates 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 firm had revenue of $221.78 million for the quarter. SelectQuote updated its FY 2024 guidance to EPS.

SelectQuote Stock Performance

Shares of SLQT opened at $1.14 on Friday. The stock has a 50 day moving average price of $1.54 and a 200 day moving average price of $1.73. 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 company 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 52-week low of $0.51 and a 52-week high of $2.94.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On SelectQuote

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLQT. FMR LLC boosted its holdings in SelectQuote by 271.2% in the first quarter. FMR LLC now owns 11,862 shares of the company’s stock valued at $26,000 after purchasing an additional 8,666 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of SelectQuote in the third quarter valued at approximately $28,000. Capstone Financial Advisors Inc. acquired a new stake in shares of SelectQuote in the second quarter valued at approximately $29,000. Franklin Resources Inc. acquired a new stake in shares of SelectQuote in the second quarter valued at approximately $31,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of SelectQuote by 102.6% in the first quarter. PNC Financial Services Group Inc. now owns 13,523 shares of the company’s stock valued at $37,000 after acquiring an additional 6,848 shares during the period. 49.41% of the stock is owned by institutional investors and hedge funds.

SelectQuote Company Profile

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.