SelectQuote (NYSE:SLQT) Rating Lowered to “Strong Sell” at Zacks Research

SelectQuote (NYSE:SLQT) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday,Zacks.com reports.

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

SelectQuote Price Performance

SLQT opened at $0.52 on Thursday. The firm has a market capitalization of $92.42 million, a PE ratio of -6.54 and a beta of 1.66. The company has a debt-to-equity ratio of 0.99, a current ratio of 6.57 and a quick ratio of 5.63. The business’s 50-day moving average is $0.75 and its two-hundred day moving average is $0.82. SelectQuote has a 1 year low of $0.48 and a 1 year high of $2.35.

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

Institutional Investors Weigh In On SelectQuote

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted 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. GSA Capital Partners LLP purchased a new position in SelectQuote during the second quarter valued at approximately $1,123,000. Ieq Capital LLC purchased a new position in SelectQuote during the second quarter valued at approximately $182,000. Persistent Asset Partners Ltd acquired a new position in SelectQuote in the second quarter valued at approximately $57,000. Finally, Bryn Mawr Trust Advisors LLC acquired a new position in SelectQuote in the second quarter valued at approximately $271,000. 34.59% of the stock is owned by institutional investors and hedge funds.

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.