SelectQuote (NYSE:SLQT) Stock Rating Lowered by Zacks Research

SelectQuote (NYSE:SLQT) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Noble Financial upgraded SelectQuote to a “strong-buy” rating in a research note on Wednesday, May 6th. Weiss Ratings downgraded SelectQuote from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.00.

SelectQuote Price Performance

Shares of SelectQuote stock opened at $0.80 on Wednesday. The business has a 50 day moving average of $0.97 and a 200 day moving average of $1.02. SelectQuote has a 52 week low of $0.56 and a 52 week high of $2.77. The company has a market cap of $141.25 million, a PE ratio of 8.90 and a beta of 1.64. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.92.

SelectQuote (NYSE:SLQT) last posted its earnings results on Tuesday, May 5th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.17. SelectQuote had a return on equity of 20.49% and a net margin of 5.60%.The firm had revenue of $430.93 million for the quarter, compared to the consensus estimate of $438.93 million. As a group, equities research analysts forecast that SelectQuote will post -0.03 earnings per share for the current year.

Institutional Trading of SelectQuote

Several large investors have recently added to or reduced their stakes in SLQT. CIBC Bancorp USA Inc. purchased a new stake in SelectQuote in the third quarter worth about $29,000. Dynamic Technology Lab Private Ltd bought a new position in shares of SelectQuote in the third quarter worth about $27,000. Renaissance Technologies LLC lifted its position in shares of SelectQuote by 817.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,021,239 shares of the company’s stock valued at $643,000 after buying an additional 909,939 shares in the last quarter. Empowered Funds LLC lifted its position in shares of SelectQuote by 10.4% during the 1st quarter. Empowered Funds LLC now owns 491,568 shares of the company’s stock valued at $309,000 after buying an additional 46,258 shares in the last quarter. Finally, State of Wyoming grew its stake in shares of SelectQuote by 103.4% during the 1st quarter. State of Wyoming now owns 95,382 shares of the company’s stock valued at $60,000 after acquiring an additional 48,483 shares during the period. 34.59% of the stock is currently owned by institutional investors.

SelectQuote Company Profile

SelectQuote, Inc (NYSE: SLQT) is a U.S.-based insurance brokerage and lead generation company that connects consumers with a range of insurance products through proprietary technology and licensed agents. The company specializes in life insurance, supplemental health coverage and Medicare plans, leveraging its digital platform and call center operations to help individuals compare policies and find cost-effective solutions tailored to their needs.

Through a single point of contact, policy seekers can evaluate offerings from multiple carriers, including term life, whole life, accidental death, critical illness and long-term care products.