SelectQuote (NYSE:SLQT) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of SelectQuote (NYSE:SLQT) from a hold rating to a strong sell rating in a report released on Thursday,Zacks.com reports.

A number of other research firms also recently commented on SLQT. Weiss Ratings downgraded shares of SelectQuote from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. Noble Financial upgraded shares of SelectQuote to a “strong-buy” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen cut shares of SelectQuote from a “hold” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.00.

SelectQuote Stock Performance

Shares of SLQT opened at $0.52 on Thursday. The firm has a market cap of $92.42 million, a price-to-earnings ratio of -6.54 and a beta of 1.66. The company has a quick ratio of 5.63, a current ratio of 6.57 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $0.75 and its two-hundred day moving average is $0.82. SelectQuote has a 52-week low of $0.48 and a 52-week high of $2.35.

SelectQuote (NYSE:SLQT) last released its quarterly earnings results on Tuesday, August 25th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). The company had revenue of $321.65 million for the quarter, compared to analyst estimates of $353.44 million. SelectQuote had a return on equity of 19.70% and a net margin of 3.84%. Analysts forecast that SelectQuote will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On SelectQuote

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in SelectQuote during the second quarter valued at $1,836,000. Millennium Management LLC lifted its position in shares of SelectQuote by 530.1% in the 4th quarter. Millennium Management LLC now owns 1,637,460 shares of the company’s stock worth $2,309,000 after buying an additional 1,377,577 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of SelectQuote in the 2nd quarter worth about $1,123,000. Renaissance Technologies LLC boosted its holdings in shares of SelectQuote by 817.6% in 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 during the period. Finally, Bridgeway Capital Management LLC acquired a new position in shares of SelectQuote in the 4th quarter valued at about $1,186,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

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.