SelectQuote (NYSE:SLQT) Stock Price Down 7.3% – Here’s Why

Shares of SelectQuote, Inc. (NYSE:SLQT) traded down 7.3% during mid-day trading on Friday . The stock traded as low as $5.13 and last traded at $5.09. 797,819 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 2,274,728 shares. The stock had previously closed at $5.49.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Noble Financial upgraded SelectQuote to a “strong-buy” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.00 price target on shares of SelectQuote in a research note on Friday, November 22nd.

SelectQuote Trading Down 16.8 %

The firm has a market capitalization of $785.82 million, a price-to-earnings ratio of -50.72 and a beta of 1.15. The company has a debt-to-equity ratio of 2.10, a current ratio of 6.36 and a quick ratio of 6.36. The firm’s 50-day simple moving average is $4.26 and its 200 day simple moving average is $3.23.

SelectQuote (NYSE:SLQT) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.09 by $0.21. SelectQuote had a negative net margin of 0.95% and a negative return on equity of 4.38%. Equities analysts expect that SelectQuote, Inc. will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SLQT. Sona Asset Management US LLC acquired a new position in shares of SelectQuote during the fourth quarter worth $2,847,000. Portolan Capital Management LLC acquired a new position in shares of SelectQuote during the fourth quarter worth $1,873,000. Marshall Wace LLP increased its holdings in shares of SelectQuote by 48.1% during the fourth quarter. Marshall Wace LLP now owns 1,052,239 shares of the company’s stock worth $3,914,000 after buying an additional 341,981 shares in the last quarter. AXA S.A. acquired a new position in shares of SelectQuote during the fourth quarter worth $1,223,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of SelectQuote by 66.8% during the fourth quarter. JPMorgan Chase & Co. now owns 716,784 shares of the company’s stock worth $2,666,000 after buying an additional 287,128 shares in the last quarter. 34.59% of the stock is currently owned by institutional investors and hedge funds.

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 products, including prescription drugs, dental, vision, and hearing plans; life insurance products, such as term life, final expense, and other ancillary products, including critical illness, accidental death, and juvenile insurance; homeowners, auto, dwelling fire, and other ancillary insurance products; and non-commercial auto and home property, and casualty policies.