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

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

A number of other equities research analysts have also commented on the stock. Noble Financial upgraded shares of SelectQuote to a “strong-buy” rating in a report on Wednesday, May 6th. Weiss Ratings cut shares of SelectQuote from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. One investment 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 company. According to MarketBeat, SelectQuote currently has an average rating of “Hold” and an average price target of $3.00.

SelectQuote Stock Down 9.7%

SLQT opened at $0.80 on Wednesday. The stock 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 has a 52 week low of $0.56 and a 52 week high of $2.77. The business’s fifty day simple moving average is $0.97 and its 200 day simple moving average is $1.02.

SelectQuote (NYSE:SLQT) last released 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 company had revenue of $430.93 million during the quarter, compared to the consensus estimate of $438.93 million. As a group, research analysts expect that SelectQuote will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SLQT. Dynamic Technology Lab Private Ltd bought a new position in SelectQuote in the 3rd quarter worth approximately $27,000. CIBC Bancorp USA Inc. bought a new stake in SelectQuote during the third quarter worth approximately $29,000. Aquatic Capital Management LLC purchased a new stake in SelectQuote during the 3rd quarter valued at $29,000. Russell Investments Group Ltd. lifted its stake in SelectQuote by 90.7% in the second quarter. Russell Investments Group Ltd. now owns 16,133 shares of the company’s stock worth $38,000 after purchasing an additional 7,675 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of SelectQuote during the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 34.59% of the company’s stock.

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.