SelectQuote (NYSE:SLQT) Downgraded to "Strong Sell" Rating by Zacks Research

Key Points

• Zacks Research downgraded SelectQuote to “Strong Sell” from “Hold,” while the broader analyst consensus remains “Hold” with a $3.00 target price.
• SelectQuote’s shares opened at $0.52, near their 12-month low of $0.48, after the company missed quarterly expectations with an EPS loss of $0.19 versus estimates of $0.16 and revenue of $321.65 million versus $353.44 million expected.
• Institutional investors own 34.59% of SelectQuote, with several funds recently initiating or increasing positions despite the company’s weak analyst sentiment and projected full-year loss of $0.20 per share.

SelectQuote (NYSE:SLQT - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Thursday,Zacks.com reports.

Several other research analysts have also recently weighed in on SLQT. Wall Street Zen cut shares of SelectQuote from a "hold" rating to a "sell" rating in a research report on Saturday. Noble Financial upgraded SelectQuote to a "strong-buy" rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings cut SelectQuote from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, SelectQuote has an average rating of "Hold" and a consensus target price of $3.00.

SelectQuote Stock Down 3.1%

SLQT opened at $0.52 on Thursday. The firm has a market cap of $92.42 million, a price-to-earnings ratio of -6.54 and a beta of 1.66. The company has a debt-to-equity ratio of 0.99, a quick ratio of 5.63 and a current ratio of 6.57. The firm's 50-day simple moving average is $0.75 and its 200-day simple moving average is $0.82. SelectQuote has a twelve month low of $0.48 and a twelve month high of $2.35.

SelectQuote (NYSE:SLQT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 25th. The company reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.03). SelectQuote had a return on equity of 19.70% and a net margin of 3.84%.The business had revenue of $321.65 million during the quarter, compared to analyst estimates of $353.44 million. Equities research analysts anticipate that SelectQuote will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On SelectQuote

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new position in SelectQuote in the third quarter valued at approximately $27,000. CIBC Bancorp USA Inc. acquired a new stake in SelectQuote during the 3rd quarter worth $29,000. Aquatic Capital Management LLC bought a new stake in shares of SelectQuote during the 3rd quarter valued at $29,000. Russell Investments Group Ltd. raised its position in shares of SelectQuote by 90.7% during 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 acquired a new position in shares of SelectQuote in the 3rd quarter valued at $43,000. 34.59% of the stock is owned by institutional investors.

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.

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