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

SelectQuote, Inc. (NYSE:SLQT) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,840,000 shares, a growth of 18.7% from the August 15th total of 1,550,000 shares. Based on an average trading volume of 700,300 shares, the short-interest ratio is currently 2.6 days. Approximately 1.4% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of SelectQuote by 271.2% during the first quarter. FMR LLC now owns 11,862 shares of the company’s stock worth $26,000 after acquiring an additional 8,666 shares during the period. Franklin Resources Inc. purchased a new position in SelectQuote in the second quarter valued at $31,000. PNC Financial Services Group Inc. increased its holdings in SelectQuote by 102.6% in the first quarter. PNC Financial Services Group Inc. now owns 13,523 shares of the company’s stock valued at $37,000 after buying an additional 6,848 shares during the last quarter. Capstone Financial Advisors Inc. purchased a new position in SelectQuote in the second quarter valued at $29,000. Finally, Teacher Retirement System of Texas increased its holdings in SelectQuote by 68.6% in the second quarter. Teacher Retirement System of Texas now owns 19,874 shares of the company’s stock valued at $49,000 after buying an additional 8,085 shares during the last quarter. 49.41% of the stock is currently owned by institutional investors and hedge funds.

SelectQuote Trading Down 8.9 %

NYSE:SLQT traded down $0.11 during trading hours on Monday, reaching $1.13. 813,862 shares of the stock were exchanged, compared to its average volume of 1,738,895. The company has a quick ratio of 8.70, a current ratio of 8.40 and a debt-to-equity ratio of 1.92. The business has a 50-day moving average of $1.53 and a two-hundred day moving average of $1.71. SelectQuote has a twelve month low of $0.51 and a twelve month high of $2.94. The company has a market capitalization of $189.49 million, a price-to-earnings ratio of -3.23 and a beta of 0.52.

SelectQuote (NYSE:SLQT) last released its quarterly earnings results on Wednesday, September 13th. The company reported ($0.29) EPS for the quarter, hitting analysts’ consensus estimates of ($0.29). SelectQuote had a negative return on equity of 13.03% and a negative net margin of 5.84%. The company had revenue of $221.78 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price objective on shares of SelectQuote in a report on Thursday.

SelectQuote Company 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 policies, including prescription drugs, dental, vision, and hearing plans; term life policies; and non-commercial auto and home property, and casualty policies.