Millennium Management LLC Reduces Holdings in SelectQuote, Inc. (NYSE:SLQT)

Millennium Management LLC cut its position in SelectQuote, Inc. (NYSE:SLQT) by 46.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,724 shares of the company’s stock after selling 42,124 shares during the quarter. Millennium Management LLC’s holdings in SelectQuote were worth $181,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in SelectQuote by 35.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,055,860 shares of the company’s stock worth $3,929,000 after acquiring an additional 275,593 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of SelectQuote by 66.8% during the fourth quarter. JPMorgan Chase & Co. now owns 716,784 shares of the company’s stock worth $2,666,000 after purchasing an additional 287,128 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in SelectQuote in the fourth quarter worth about $47,000. Wells Fargo & Company MN grew its stake in SelectQuote by 13.4% in the fourth quarter. Wells Fargo & Company MN now owns 154,945 shares of the company’s stock worth $576,000 after purchasing an additional 18,261 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in SelectQuote by 15.8% in the fourth quarter. Bank of America Corp DE now owns 598,461 shares of the company’s stock valued at $2,226,000 after buying an additional 81,606 shares during the last quarter. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group began coverage on shares of SelectQuote in a report on Wednesday, May 21st. They issued a “hold” rating and a $2.75 price objective for the company.

SelectQuote Stock Performance

Shares of SLQT opened at $2.25 on Friday. The company has a debt-to-equity ratio of 2.10, a current ratio of 6.36 and a quick ratio of 6.36. The firm’s 50 day moving average is $2.67 and its 200-day moving average is $3.47. SelectQuote, Inc. has a 12-month low of $1.62 and a 12-month high of $6.86. The stock has a market capitalization of $388.62 million, a P/E ratio of -25.00 and a beta of 1.11.

SelectQuote (NYSE:SLQT) last announced its earnings results on Monday, May 12th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). SelectQuote had a negative net margin of 0.95% and a negative return on equity of 4.38%. The company had revenue of $408.16 million for the quarter, compared to analysts’ expectations of $412.83 million. Equities research analysts anticipate that SelectQuote, Inc. will post -0.07 EPS for the current fiscal year.

SelectQuote 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 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.