SelectQuote, Inc. (NYSE:SLQT) Sees Large Growth in Short Interest

SelectQuote, Inc. (NYSE:SLQT) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 4,753,933 shares, an increase of 53.9% from the March 15th total of 3,088,796 shares. Approximately 3.1% of the shares of the stock are sold short. Based on an average trading volume of 1,174,349 shares, the days-to-cover ratio is presently 4.0 days.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SLQT. Weiss Ratings downgraded SelectQuote from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, March 3rd. Craig Hallum set a $3.00 target price on SelectQuote in a research report on Friday, February 6th. Zacks Research upgraded SelectQuote from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. Royal Bank Of Canada cut their target price on SelectQuote from $5.00 to $3.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 11th. Finally, Wall Street Zen upgraded SelectQuote from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.92.

SelectQuote Price Performance

SelectQuote stock opened at $0.75 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 5.65 and a current ratio of 5.65. SelectQuote has a 52 week low of $0.56 and a 52 week high of $3.43. The stock has a market capitalization of $132.57 million, a P/E ratio of 75.28 and a beta of 1.36. The stock has a fifty day moving average of $0.75 and a 200-day moving average of $1.32.

SelectQuote (NYSE:SLQT) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. SelectQuote had a return on equity of 14.85% and a net margin of 4.80%.The company had revenue of $537.10 million during the quarter, compared to analysts’ expectations of $530.73 million. On average, sell-side analysts expect that SelectQuote will post -0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SelectQuote

A number of institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in SelectQuote by 6.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,854 shares of the company’s stock worth $273,000 after purchasing an additional 4,947 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in SelectQuote by 44.4% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 19,500 shares of the company’s stock worth $38,000 after purchasing an additional 6,000 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in SelectQuote by 90.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 16,133 shares of the company’s stock worth $38,000 after purchasing an additional 7,675 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in SelectQuote by 9.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 91,765 shares of the company’s stock worth $218,000 after purchasing an additional 7,960 shares in the last quarter. Finally, Creative Planning increased its holdings in SelectQuote by 8.5% in the 2nd quarter. Creative Planning now owns 121,597 shares of the company’s stock worth $289,000 after purchasing an additional 9,504 shares in the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

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.