SelectQuote Inc. (NYSE: SLQT) stock fell -8.87% on Monday to $1.13 against a previous-day closing price of $1.24. With 0.81 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.79 million shares. During the session, the Insurance Brokers company that operates in wider Financial sector, reached to the highest price of $1.2300 whereas the lowest price it dropped to was $1.1200. The 52-week range on SLQT shows that it touched its highest point at $2.94 and its lowest point at $0.51 during that stretch. It currently has a 1-year price target of $2.58. Beta for the stock currently stands at 0.50.
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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 -12.40%, but this was down by -13.74% over a month. Three-month performance dropped to -34.68% while six-month performance fell -35.80%. The stock lost -7.38% in the past year, while it has gained 68.18% so far this year. A look at the trailing 12-month EPS for SLQT yields -0.35 with Next year EPS estimates of -0.07. For the next quarter, that number is -0.23. This implies an EPS growth rate of 80.60% for this year and 70.00% for next year. EPS is expected to decline by -9.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -35.50%.
Float and Shares Shorts:
At present, 166.71 million SLQT shares are outstanding with a float of 127.58 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.84 million, which was 1.10% higher than short shares on Jul 30, 2023. In addition to Mr. Timothy Robert Danker as the firm’s CEO & Director, Mr. Robert Clay Grant serves as its Pres.
Institutional Ownership:
Through their ownership of 52.15% of SLQT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 25.56% of SLQT, in contrast to 20.80% held by mutual funds. Shares owned by individuals account for 13.49%. As the largest shareholder in SLQT with 5.24% of the stake, BlackRock Fund Advisors holds 8,732,180 shares worth 8,732,180. 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 6,699,785 shares or 4.02% 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 1.89% of SLQT stock, is the second-largest Mutual Fund holder. It holds 3,146,834 shares valued at 3.84 million. Vanguard Extended Market Index Fu holds 1.02% of the stake in SLQT, owning 1,696,874 shares worth 2.07 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 Jun 29, 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.
Analysts Ratings:
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 $2.38. Based on these targets, SLQT could surge 165.49% to reach the target high and rise by 54.87% to reach the target low. Reaching the average price target will result in a growth of 110.62% 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 25 Buys and 4 Sells. In these transactions, 474,929 shares were bought while 23,483 shares were sold. The number of buy transactions has increased to 40 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 1,525,960 while 25,644 shares were sold.
