SelectQuote, Inc. (NYSE:SLQT) Sees Significant Growth in Short Interest
by Michael Walen · The Markets DailySelectQuote, Inc. (NYSE:SLQT – Get Free Report) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 4,753,933 shares, an increase of 53.9% from the March 15th total of 3,088,796 shares. Approximately 3.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,174,349 shares, the short-interest ratio is presently 4.0 days.
SelectQuote Stock Performance
Shares of NYSE SLQT traded up $0.02 during trading on Wednesday, reaching $0.75. 1,224,762 shares of the stock traded hands, compared to its average volume of 1,418,261. The company has a debt-to-equity ratio of 1.07, a current ratio of 5.65 and a quick ratio of 5.65. The stock has a market capitalization of $132.57 million, a P/E ratio of 75.28 and a beta of 1.36. SelectQuote has a 52-week low of $0.56 and a 52-week high of $3.43. The company has a 50-day moving average of $0.77 and a 200-day moving average of $1.33.
SelectQuote (NYSE:SLQT – Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. The business had revenue of $537.10 million for the quarter, compared to analysts’ expectations of $530.73 million. SelectQuote had a return on equity of 14.85% and a net margin of 4.80%. Analysts forecast that SelectQuote will post -0.07 EPS for the current fiscal year.
Institutional Investors Weigh In On SelectQuote
Several hedge funds and other institutional investors have recently modified their holdings of SLQT. Dynamic Technology Lab Private Ltd bought a new stake in SelectQuote during the third quarter valued at $27,000. CIBC Bancorp USA Inc. bought a new stake in SelectQuote in the third quarter worth $29,000. Aquatic Capital Management LLC purchased a new position in shares of SelectQuote in the third quarter worth about $29,000. Nations Financial Group Inc. IA ADV boosted its holdings in SelectQuote by 44.4% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 19,500 shares of the company’s stock valued at $38,000 after acquiring an additional 6,000 shares during the period. Finally, Russell Investments Group Ltd. grew its position in SelectQuote by 90.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 16,133 shares of the company’s stock worth $38,000 after acquiring an additional 7,675 shares during the last quarter. 34.59% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on SLQT shares. Wall Street Zen raised shares of SelectQuote from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Craig Hallum set a $3.00 target price on SelectQuote in a report on Friday, February 6th. Royal Bank Of Canada dropped their price objective on SelectQuote from $5.00 to $3.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 11th. Zacks Research upgraded shares of SelectQuote from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. Finally, Weiss Ratings downgraded SelectQuote from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $2.92.
Get Our Latest Stock Report on SLQT
About SelectQuote
SelectQuote, Inc (NYSE: SLQT) is a U.S.-based insurance brokerage and lead generation company that connects consumers with a range of insurance products through proprietary technology and licensed agents. The company specializes in life insurance, supplemental health coverage and Medicare plans, leveraging its digital platform and call center operations to help individuals compare policies and find cost-effective solutions tailored to their needs.
Through a single point of contact, policy seekers can evaluate offerings from multiple carriers, including term life, whole life, accidental death, critical illness and long-term care products.