SelectQuote Inc. (NYSE: SLQT) stock jumped 0.54% on Wednesday to $1.85 against a previous-day closing price of $1.84. With 1.01 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.8 million shares. During the session, the Insurance Brokers company that operates in wider Financial sector, reached to the highest price of $1.9185 whereas the lowest price it dropped to was $1.7600. The 52-week range on SLQT shows that it touched its highest point at $3.24 and its lowest point at $0.51 during that stretch. It currently has a 1-year price target of $2.58.
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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 -1.07%, but this was up by 38.06% over a month. Three-month performance dropped to -27.17% while six-month performance rose 169.44%. The stock lost -26.88% in the past year, while it has gained 175.34% so far this year. A look at the trailing 12-month EPS for SLQT yields -0.81 with Next year EPS estimates of -0.21. For the next quarter, that number is -0.29. This implies an EPS growth rate of -340.50% for this year and 40.00% for next year.
Float and Shares Shorts:
At present, 166.49 million SLQT shares are outstanding with a float of 117.28 million shares on hand for trading. On Apr 27, 2023, short shares totaled 3.56 million, which was 2.14% higher than short shares on Mar 30, 2023. In addition to Mr. Timothy Robert Danker as the firm’s CEO & Director, Mr. Robert Clay Grant serves as its Pres.
Other institutions hold 26.40% of SLQT, in contrast to 19.95% held by mutual funds. Shares owned by individuals account for 13.60%. As the largest shareholder in SLQT with 4.96% of the stake, BlackRock Fund Advisors holds 8,263,020 shares worth 8,263,020. A second-largest stockholder of SLQT, Abrams Bison Investments LLC, holds 7,910,794 shares, controlling over 4.75% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in SLQT, holding 6,777,350 shares or 4.07% stake. With a 2.60% stake in SLQT, the Vanguard Total Stock Market ETF 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 1.74% of SLQT stock, is the second-largest Mutual Fund holder. It holds 2,892,309 shares valued at 3.07 million. Vanguard Extended Market Index Fu holds 1.03% of the stake in SLQT, owning 1,713,866 shares worth 1.82 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, SLQT reported revenue of $139.39M and operating income of -$74.08M. The EBITDA in the recently reported quarter was -$67.34M and diluted EPS was -$0.64.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SLQT since 0 analysts follow the stock currently. 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 $3.00 and a low target of $1.75, the average target price over the next 12 months is $2.58. Based on these targets, SLQT could surge 62.16% to reach the target high and fall by -5.41% to reach the target low. Reaching the average price target will result in a growth of 39.46% 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.
Summary of Insider Activity:
Insiders traded SLQT stock several times over the past three months with 2 Buys and 1 Sells. In these transactions, 28,935 shares were bought while 2,161 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 1,267,313 while 4,938 shares were sold.