SelectQuote (NYSE:SLQT) Shares Gap Up - Here's What Happened

SelectQuote, Inc. (NYSE:SLQT - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $2.76, but opened at $3.00. SelectQuote shares last traded at $3.26, with a volume of 895,449 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SLQT shares. Craig Hallum began coverage on SelectQuote in a research note on Monday, September 30th. They set a "buy" rating and a $4.50 price objective for the company. Royal Bank of Canada reiterated a "sector perform" rating and set a $4.00 target price on shares of SelectQuote in a research note on Friday, November 22nd.

SelectQuote Stock Up 21.4 %

The firm has a market cap of $574.54 million, a P/E ratio of -11.96 and a beta of 1.22. The firm's 50-day moving average price is $2.44 and its 200 day moving average price is $2.89. The company has a debt-to-equity ratio of 2.36, a current ratio of 6.66 and a quick ratio of 6.66.

SelectQuote (NYSE:SLQT - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.08). The firm had revenue of $292.26 million during the quarter, compared to the consensus estimate of $275.15 million. SelectQuote had a negative net margin of 3.45% and a negative return on equity of 15.00%. During the same quarter last year, the firm posted ($0.19) earnings per share. On average, equities research analysts expect that SelectQuote, Inc. will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SelectQuote

Several institutional investors have recently made changes to their positions in the stock. Mason Investment Advisory Services Inc. increased its position in SelectQuote by 33.3% in the third quarter. Mason Investment Advisory Services Inc. now owns 20,000 shares of the company's stock worth $43,000 after buying an additional 5,000 shares during the period. Creative Planning increased its holdings in shares of SelectQuote by 6.6% in the 3rd quarter. Creative Planning now owns 100,019 shares of the company's stock worth $217,000 after acquiring an additional 6,150 shares during the period. Price T Rowe Associates Inc. MD lifted its position in SelectQuote by 18.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,414 shares of the company's stock valued at $83,000 after purchasing an additional 6,555 shares during the last quarter. TFB Advisors LLC bought a new stake in SelectQuote in the 2nd quarter valued at about $29,000. Finally, State Street Corp boosted its stake in SelectQuote by 0.7% during the 3rd 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. 34.59% of the stock is owned by institutional investors.

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.