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

Shares of SelectQuote, Inc. (NYSE:SLQT - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $3.15, but opened at $3.55. SelectQuote shares last traded at $3.50, with a volume of 245,518 shares changing hands.

Analysts Set New Price Targets

Separately, Noble Financial upgraded shares of SelectQuote to a "strong-buy" rating in a research note on Wednesday, February 12th.

SelectQuote Stock Performance

The company has a debt-to-equity ratio of 2.10, a quick ratio of 6.36 and a current ratio of 6.36. The stock has a market capitalization of $544.84 million, a P/E ratio of -35.17 and a beta of 1.25. The business has a 50-day moving average price of $4.09 and a 200 day moving average price of $3.36.

SelectQuote (NYSE:SLQT - Get Free Report) last released its earnings results on Monday, February 10th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.21. SelectQuote had a negative return on equity of 4.38% and a negative net margin of 0.95%. As a group, sell-side analysts forecast that SelectQuote, Inc. will post -0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Sarah Taylor Anderson sold 50,000 shares of SelectQuote stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $5.44, for a total value of $272,000.00. Following the completion of the sale, the insider now owns 1,166 shares of the company's stock, valued at $6,343.04. The trade was a 97.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 11.40% of the company's stock.

Hedge Funds Weigh In On SelectQuote

Institutional investors have recently made changes to their positions in the business. OneDigital Investment Advisors LLC purchased a new stake in SelectQuote during the fourth quarter valued at approximately $46,000. Oppenheimer & Co. Inc. purchased a new stake in shares of SelectQuote in the 4th quarter worth $47,000. Cibc World Markets Corp bought a new position in SelectQuote in the 4th quarter worth $47,000. Bayesian Capital Management LP bought a new position in SelectQuote in the 4th quarter worth $55,000. Finally, Raymond James Financial Inc. purchased a new position in SelectQuote during the fourth quarter valued at $97,000. Institutional investors own 34.59% of the company's stock.

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.