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

Zacks Research downgraded shares of SelectQuote (NYSE:SLQT) from a strong-buy rating to a hold rating in a report published on Wednesday,Zacks.com reports.

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

SelectQuote Price Performance

Shares of SelectQuote stock opened at $0.80 on Wednesday. The firm has a market cap of $141.25 million, a PE ratio of 8.90 and a beta of 1.64. SelectQuote has a 12-month low of $0.56 and a 12-month high of $2.77. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.92. The company’s fifty day simple moving average is $0.97 and its two-hundred day simple moving average is $1.02.

SelectQuote (NYSE:SLQT) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.17. The firm had revenue of $430.93 million during the quarter, compared to the consensus estimate of $438.93 million. SelectQuote had a net margin of 5.60% and a return on equity of 20.49%. As a group, equities analysts expect that SelectQuote will post -0.03 EPS for the current year.

Institutional Investors Weigh In On SelectQuote

Several institutional investors and hedge funds have recently modified their holdings of SLQT. Millennium Management LLC lifted its stake 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 valued at $2,309,000 after purchasing an additional 1,377,577 shares during the period. Renaissance Technologies LLC grew its stake in SelectQuote by 817.6% in the first quarter. Renaissance Technologies LLC now owns 1,021,239 shares of the company’s stock worth $643,000 after purchasing an additional 909,939 shares during the period. Bridgeway Capital Management LLC purchased a new stake in SelectQuote in the fourth quarter worth $1,186,000. Arrowstreet Capital Limited Partnership raised its holdings in SelectQuote by 71.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,931,037 shares of the company’s stock worth $4,596,000 after purchasing an additional 803,594 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in SelectQuote by 36.3% in the fourth quarter. Captrust Financial Advisors now owns 2,081,209 shares of the company’s stock worth $2,935,000 after purchasing an additional 554,624 shares in the last quarter. 34.59% of the stock is owned by hedge funds and other 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.