SelectQuote, Inc. (NYSE:SLQT) Sees Significant Drop in Short Interest

SelectQuote, Inc. (NYSE:SLQT) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totaling 1,330,729 shares, a drop of 69.7% from the June 15th total of 4,394,898 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily volume of 3,293,561 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analyst Weigh In

SLQT has been the topic of a number of analyst reports. Weiss Ratings raised shares of SelectQuote from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday. Zacks Research downgraded shares of SelectQuote from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Finally, Noble Financial upgraded shares of SelectQuote to a “strong-buy” rating in a research report on Wednesday, May 6th. One 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $3.00.

SelectQuote Price Performance

NYSE:SLQT traded down $0.04 during trading hours on Monday, hitting $0.73. 587,064 shares of the company’s stock traded hands, compared to its average volume of 1,757,854. The firm has a market cap of $128.38 million, a P/E ratio of 8.08 and a beta of 1.64. SelectQuote has a 52 week low of $0.56 and a 52 week high of $2.77. The business’s fifty day simple moving average is $0.96 and its two-hundred day simple moving average is $0.99. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.92.

SelectQuote (NYSE:SLQT) last announced its earnings results on Tuesday, May 5th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.17. The business had revenue of $430.93 million for the quarter, compared to analyst estimates of $438.93 million. SelectQuote had a return on equity of 20.49% and a net margin of 5.60%. On average, research analysts anticipate that SelectQuote will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SelectQuote

A number of institutional investors and hedge funds have recently bought and sold shares of SLQT. Millennium Management LLC raised its position in shares of SelectQuote by 530.1% during the 4th quarter. Millennium Management LLC now owns 1,637,460 shares of the company’s stock valued at $2,309,000 after buying an additional 1,377,577 shares in the last quarter. Renaissance Technologies LLC grew its position in SelectQuote by 817.6% in the first quarter. Renaissance Technologies LLC now owns 1,021,239 shares of the company’s stock worth $643,000 after acquiring an additional 909,939 shares in the last quarter. Bridgeway Capital Management LLC bought a new position in SelectQuote in the fourth quarter valued at $1,186,000. Arrowstreet Capital Limited Partnership increased its stake in SelectQuote by 71.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,931,037 shares of the company’s stock valued at $4,596,000 after acquiring an additional 803,594 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in SelectQuote by 36.3% during the fourth quarter. Captrust Financial Advisors now owns 2,081,209 shares of the company’s stock valued at $2,935,000 after purchasing an additional 554,624 shares in the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

SelectQuote Company Profile

SelectQuote, Inc (NYSE: SLQT) is a U.S.-based insurance brokerage and lead generation company that connects consumers with a range of insurance products through proprietary technology and licensed agents. The company specializes in life insurance, supplemental health coverage and Medicare plans, leveraging its digital platform and call center operations to help individuals compare policies and find cost-effective solutions tailored to their needs.

Through a single point of contact, policy seekers can evaluate offerings from multiple carriers, including term life, whole life, accidental death, critical illness and long-term care products.