SelectQuote (NYSE:SLQT) Issues Quarterly Earnings Results

SelectQuote (NYSE:SLQT) announced its earnings results on Wednesday. The company reported ($0.29) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.29), MarketWatch Earnings reports. SelectQuote had a negative net margin of 5.84% and a negative return on equity of 13.03%. The company had revenue of $221.78 million for the quarter. SelectQuote updated its FY 2024 guidance to EPS.

SelectQuote Stock Performance

SelectQuote stock opened at $1.14 on Friday. The company has a debt-to-equity ratio of 1.92, a current ratio of 8.40 and a quick ratio of 8.70. The company has a market capitalization of $189.99 million, a price-to-earnings ratio of -1.63 and a beta of 0.52. SelectQuote has a one year low of $0.51 and a one year high of $2.94. The company’s fifty day moving average price is $1.54 and its two-hundred day moving average price is $1.73.

Hedge Funds Weigh In On SelectQuote

Several hedge funds have recently bought and sold shares of SLQT. Swiss National Bank increased its position in SelectQuote by 8.0% during the first quarter. Swiss National Bank now owns 135,700 shares of the company’s stock worth $379,000 after buying an additional 10,000 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in SelectQuote by 18.6% during the first quarter. JPMorgan Chase & Co. now owns 99,300 shares of the company’s stock valued at $278,000 after acquiring an additional 15,608 shares during the period. Citigroup Inc. boosted its holdings in SelectQuote by 8.8% during the first quarter. Citigroup Inc. now owns 105,343 shares of the company’s stock valued at $294,000 after acquiring an additional 8,497 shares during the period. PNC Financial Services Group Inc. boosted its holdings in SelectQuote by 102.6% during the first quarter. PNC Financial Services Group Inc. now owns 13,523 shares of the company’s stock valued at $37,000 after acquiring an additional 6,848 shares during the period. Finally, Rhumbline Advisers boosted its holdings in SelectQuote by 4.9% during the first quarter. Rhumbline Advisers now owns 315,867 shares of the company’s stock valued at $881,000 after acquiring an additional 14,658 shares during the period. 49.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price target on shares of SelectQuote in a research note on Thursday.

SelectQuote Company Profile

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 policies, including prescription drugs, dental, vision, and hearing plans; term life policies; and non-commercial auto and home property, and casualty policies.