SelectQuote (NYSE:SLQT) Trading 5.2% Higher - Here's What Happened

SelectQuote, Inc. (NYSE:SLQT - Get Free Report) shares shot up 5.2% during mid-day trading on Friday . The stock traded as high as $3.05 and last traded at $3.05. 41,494 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 1,016,349 shares. The stock had previously closed at $2.90.

Analyst Ratings Changes

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

SelectQuote Stock Performance

The company has a debt-to-equity ratio of 2.36, a quick ratio of 6.66 and a current ratio of 6.66. The firm has a market cap of $512.81 million, a P/E ratio of -10.68 and a beta of 1.06. The company's 50 day moving average is $2.26 and its 200 day moving average is $2.89.

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

Institutional Investors Weigh In On SelectQuote

Institutional investors have recently made changes to their positions in the stock. KCM Investment Advisors LLC bought a new position in SelectQuote during the third quarter worth $608,000. Bank of Montreal Can acquired a new stake in SelectQuote during the 2nd quarter worth about $545,000. Panagora Asset Management Inc. raised its position in shares of SelectQuote by 85.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 410,009 shares of the company's stock worth $1,132,000 after acquiring an additional 189,029 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of SelectQuote by 158.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 278,224 shares of the company's stock valued at $768,000 after purchasing an additional 170,726 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of SelectQuote during the 3rd quarter valued at about $311,000. 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.