SelectQuote (NYSE:SLQT) Rating Lowered to Hold at Zacks Research

SelectQuote (NYSE:SLQT) was downgraded by investment 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 research firms have also issued reports on SLQT. Noble Financial raised SelectQuote to a “strong-buy” rating in a report on Wednesday, May 6th. Weiss Ratings lowered 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 issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, SelectQuote presently has an average rating of “Hold” and an average price target of $3.00.

SelectQuote Stock Performance

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

SelectQuote (NYSE:SLQT) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. The business had revenue of $430.93 million during the quarter, compared to analyst estimates of $438.93 million. SelectQuote had a net margin of 5.60% and a return on equity of 20.49%. On average, equities research analysts predict that SelectQuote will post -0.03 EPS for the current fiscal year.

Institutional Trading of SelectQuote

Hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in shares of SelectQuote in the 3rd quarter valued at $27,000. CIBC Bancorp USA Inc. bought a new position in shares of SelectQuote during the 3rd quarter valued at $29,000. Aquatic Capital Management LLC bought a new stake in SelectQuote in the third quarter worth $29,000. Russell Investments Group Ltd. lifted its stake in shares of SelectQuote by 90.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 16,133 shares of the company’s stock valued at $38,000 after acquiring an additional 7,675 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in SelectQuote during the 3rd quarter valued at about $43,000. 34.59% of the stock is owned by institutional investors.

About SelectQuote

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.