SelectQuote (NYSE:SLQT) Releases Earnings Results, Meets Estimates

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

SelectQuote Price Performance

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

Hedge Funds Weigh In On SelectQuote

A number of institutional investors have recently modified their holdings of SLQT. Moneta Group Investment Advisors LLC increased its stake in shares of SelectQuote by 302,110.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 140,754,577 shares of the company’s stock worth $94,573,000 after purchasing an additional 140,708,002 shares during the period. Millennium Management LLC increased its position in 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 buying an additional 1,684,249 shares during the period. Captrust Financial Advisors lifted its holdings in shares of SelectQuote by 29,192.8% during the third quarter. Captrust Financial Advisors now owns 1,450,870 shares of the company’s stock worth $1,059,000 after buying an additional 1,445,917 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of SelectQuote by 13,256.5% during the first quarter. Prudential Financial Inc. now owns 1,360,360 shares of the company’s stock worth $2,952,000 after buying an additional 1,350,175 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new stake in shares of SelectQuote in the third quarter valued at approximately $638,000. Institutional investors own 49.41% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price objective 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.