SelectQuote Inc. (NYSE: SLQT) stock jumped 0.01% on Monday to $0.69 against a previous-day closing price of $0.69. With 1.07 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.99 million shares. During the session, the Insurance Brokers company that operates in wider Financial sector, reached to the highest price of $0.7412 whereas the lowest price it dropped to was $0.6525. The 52-week range on SLQT shows that it touched its highest point at $7.77 and its lowest point at $0.51 during that stretch. It currently has a 1-year price target of $1.27.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SLQT was down-trending over the past week, with a drop of -24.13%, but this was up by 7.43% over a month. Three-month performance surged to 30.65% while six-month performance fell -61.54%. The stock lost -91.01% in the past year, while it has gained 3.02% so far this year. A look at the trailing 12-month EPS for SLQT yields -1.78 with Next year EPS estimates of -0.25. For the next quarter, that number is -0.03. This implies an EPS growth rate of -340.50% for this year and 56.10% for next year.
Float and Shares Shorts:
At present, 164.82 million SLQT shares are outstanding with a float of 117.28 million shares on hand for trading. On Oct 13, 2022, short shares totaled 6.51 million, which was 3.91% higher than short shares on Sep 14, 2022. In addition to Mr. Timothy Robert Danker as the firm’s CEO & Director, Mr. Robert Clay Grant serves as its Pres.
Through their ownership of 63.21% of SLQT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 37.75% of SLQT, in contrast to 18.54% held by mutual funds. Shares owned by individuals account for 14.60%. As the largest shareholder in SLQT with 11.22% of the stake, BlackRock Fund Advisors holds 18,671,014 shares worth 18,671,014. A second-largest stockholder of SLQT, The Vanguard Group, Inc., holds 8,343,588 shares, controlling over 5.01% of the firm’s shares. Abrams Bison Investments LLC is the third largest shareholder in SLQT, holding 7,910,794 shares or 4.75% stake. With a 2.60% stake in SLQT, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 4,324,874 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.80% of SLQT stock, is the second-largest Mutual Fund holder. It holds 2,995,418 shares valued at 2.01 million. Vanguard Extended Market Index Fu holds 1.02% of the stake in SLQT, owning 1,696,293 shares worth 1.14 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SLQT since 3 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SLQT analysts setting a high price target of $2.00 and a low target of $0.80, the average target price over the next 12 months is $1.27. Based on these targets, SLQT could surge 189.86% to reach the target high and rise by 15.94% to reach the target low. Reaching the average price target will result in a growth of 84.06% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SLQT will report FY 2023 earnings on 09/13/2023. Analysts have provided yearly estimates in a range of -$0.51 being high and -$0.66 being low. For SLQT, this leads to a yearly average estimate of -$0.57. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. SelectQuote Inc. surprised analysts by -$0.06 when it reported -$0.26 EPS against a consensus estimate of -$0.20. The surprise factor in the prior quarter was -$0.46. Based on analyst estimates, the high estimate for the next quarter is $0.11 and the low estimate is -$0.12. The average estimate for the next quarter is thus -$0.03.
Summary of Insider Activity:
Insiders traded SLQT stock several times over the past three months with 4 Buys and 0 Sells. In these transactions, 31,396 shares were bought while 0 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 1,288,377 while 2,777 shares were sold.