Microvast Holdings announces departure of chief financial officer
In a remarkable turnaround, SelectQuote Inc. (NYSE:SLQT) stock has reached a 52-week high, touching $4.56 in recent trading. The company, with a market capitalization of $772 million, has demonstrated strong momentum with impressive monthly and quarterly gains, according to InvestingPro data. This peak represents a significant rebound for the company, which has seen its stock surge by an impressive 320.56% over the past year. Investors have been responding positively to a series of strategic moves by the company, aimed at capitalizing on market opportunities and streamlining operations. The company's financial health shows promise, with a healthy current ratio of 1.84 and robust revenue growth of 29% year-over-year. InvestingPro analysis suggests the stock may still be undervalued at current levels. The 52-week high milestone is a testament to the growing confidence in SelectQuote's potential for sustained growth and its recovery from past market challenges. For deeper insights into SelectQuote's valuation and growth prospects, check out the comprehensive Pro Research Report available on InvestingPro, which offers exclusive analysis and additional ProTips.
In other recent news, SelectQuote has seen significant developments in its business operations. The company reported a robust 26% year-over-year revenue growth in its first quarter, totaling $292 million, primarily driven by the expansion of its SelectRx business. Membership in the SelectRx program saw a substantial increase, growing by 64%.
In other highlights, SelectQuote shareholders recently approved executive compensation and re-elected two Class II directors at the 2024 Annual Meeting of Stockholders. The company also confirmed the appointment of Deloitte & Touche LLP as its independent registered public accounting firm for the fiscal year ending in June 2025.
Furthermore, SelectQuote raised $100 million through a securitization of receivables, a move aimed at lowering its cost of capital. The company is also considering further securitization opportunities in the first half of 2025. These recent developments indicate a strategic focus on operational efficiency and financial health, positioning SelectQuote for sustained growth.
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