SelectQuote (NYSE:SLQT) Stock: Insider Raymond Weldon Acquires 409,836 Shares

SelectQuote, Inc. (NYSE:SLQT) Director Raymond Weldon acquired 409,836 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were bought at an average price of $0.49 per share, with a total value of $200,819.64. Following the completion of the purchase, the director owned 923,050 shares in the company, valued at $452,294.50. The trade was a 79.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

SelectQuote Price Performance

Shares of NYSE SLQT opened at $0.51 on Thursday. The company has a debt-to-equity ratio of 1.16, a current ratio of 7.48 and a quick ratio of 7.48. The firm has a market capitalization of $91.69 million, a PE ratio of -17.03 and a beta of 2.01. SelectQuote, Inc. has a 1-year low of $0.30 and a 1-year high of $1.76. The business’s fifty day moving average price is $0.42 and its two-hundred day moving average price is $0.74.

SelectQuote (NYSE:SLQT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.12. The company had revenue of $280.01 million during the quarter, compared to the consensus estimate of $277.91 million. SelectQuote had a net margin of 4.61% and a return on equity of 22.48%. On average, research analysts expect that SelectQuote, Inc. will post -0.25 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on SLQT. Zacks Research raised shares of SelectQuote from a “strong sell” rating to a “hold” rating in a research note on Monday, October 26th. Weiss Ratings lowered shares of SelectQuote from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. Finally, Wall Street Zen lowered shares of SelectQuote from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, SelectQuote currently has a consensus rating of “Hold” and an average price target of $3.00.

SelectQuote News Roundup

Investors following SLQT have been watching these news items:

• Positive Sentiment: Executives and directors reported buying a combined 919,905 shares for about $447,000 on November 6 and 9. Buyers included CEO Timothy Danker, President Robert Grant, COO William Grant, and directors Raymond Weldon and Donald Hawks; Weldon’s 409,836-share purchase was the largest. Insider buying report
• Neutral Sentiment: Recent quarterly results beat estimates: SelectQuote reported a loss of $0.21 per share versus a forecasted loss of $0.33, while revenue of $280.01 million modestly exceeded expectations. The company nevertheless remains loss-making, and analyst ratings cited in the report were mixed, with a consensus of Hold. Company and analyst information

Institutional Investors Weigh In On SelectQuote

A number of institutional investors have recently added to or reduced their stakes in the company. EP Wealth Advisors LLC acquired a new stake in SelectQuote in the 2nd quarter valued at about $51,000. Persistent Asset Partners Ltd bought a new position in shares of SelectQuote during the 2nd quarter valued at about $57,000. Corient Private Wealth LP bought a new position in shares of SelectQuote during the 2nd quarter valued at about $71,000. State of Wyoming grew its stake in shares of SelectQuote by 103.4% in the 1st quarter. State of Wyoming now owns 95,382 shares of the company’s stock worth $60,000 after purchasing an additional 48,483 shares during the last quarter. Finally, SMH Capital Advisors Inc. acquired a new position in shares of SelectQuote in the 3rd quarter worth approximately $47,000. 34.59% of the stock is currently owned by institutional investors and hedge funds.

SelectQuote Company Profile

SelectQuote, Inc. (NYSE: SLQT) operates a technology-enabled insurance distribution platform that helps consumers compare and purchase insurance products from third-party carriers. The company combines digital tools, proprietary data and licensed agents to connect customers with coverage suited to their needs. SelectQuote’s primary business is its Senior segment, which provides access to Medicare Advantage, Medicare Supplement and prescription drug plans. The company has also historically offered life insurance, as well as auto and home insurance, through its Life and Auto & Home businesses.