SelectQuote (NYSE:SLQT) Hits New 12-Month High After Earnings Beat

SelectQuote, Inc. (NYSE:SLQT - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $6.25 and last traded at $6.37, with a volume of 5810441 shares changing hands. The stock had previously closed at $4.38.

The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.21. SelectQuote had a negative net margin of 3.45% and a negative return on equity of 15.00%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $4.00 price objective on shares of SelectQuote in a research report on Friday, November 22nd. Noble Financial raised shares of SelectQuote to a "strong-buy" rating in a research report on Wednesday.

Hedge Funds Weigh In On SelectQuote

Institutional investors have recently modified their holdings of the company. Barclays PLC raised its position in shares of SelectQuote by 166.8% in the third quarter. Barclays PLC now owns 198,357 shares of the company's stock valued at $430,000 after purchasing an additional 124,005 shares during the period. JPMorgan Chase & Co. raised its position in shares of SelectQuote by 36.9% in the third quarter. JPMorgan Chase & Co. now owns 429,656 shares of the company's stock valued at $932,000 after purchasing an additional 115,865 shares during the period. KCM Investment Advisors LLC bought a new position in shares of SelectQuote in the third quarter valued at approximately $608,000. SG Americas Securities LLC raised its position in shares of SelectQuote by 10.5% in the fourth quarter. SG Americas Securities LLC now owns 91,508 shares of the company's stock valued at $340,000 after purchasing an additional 8,660 shares during the period. Finally, State Street Corp raised its position in shares of SelectQuote by 0.7% in the third quarter. State Street Corp now owns 2,894,067 shares of the company's stock valued at $6,280,000 after purchasing an additional 21,413 shares during the period. Institutional investors own 34.59% of the company's stock.

SelectQuote Stock Performance

The company has a market cap of $1.03 billion, a P/E ratio of -21.45 and a beta of 1.15. The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 2.36. The stock's 50-day moving average price is $3.93 and its 200 day moving average price is $3.16.

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 products, including prescription drugs, dental, vision, and hearing plans; life insurance products, such as term life, final expense, and other ancillary products, including critical illness, accidental death, and juvenile insurance; homeowners, auto, dwelling fire, and other ancillary insurance products; and non-commercial auto and home property, and casualty policies.