SelectQuote (NYSE:SLQT) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded SelectQuote to “hold.” The analyst consensus is also “hold,” with an average price target of $3.00.
• SelectQuote reported quarterly adjusted earnings per share of a $0.21 loss, better than the expected $0.33 loss, and revenue of $280.01 million, above estimates.
• Company insiders have been buying shares: the CEO and COO made purchases in November, and insiders acquired 919,905 shares over the past three months.

SelectQuote (NYSE:SLQT - Get Free Report) was upgraded by Wall Street Zen to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities analysts also recently issued reports on the stock. Weiss Ratings downgraded shares of SelectQuote from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 17th. Zacks Research upgraded shares of SelectQuote from a "strong sell" rating to a "hold" rating in a research report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $3.00.

SelectQuote Stock Performance

NYSE SLQT opened at $0.44 on Friday. The company has a quick ratio of 7.48, a current ratio of 7.48 and a debt-to-equity ratio of 1.16. SelectQuote has a fifty-two week low of $0.30 and a fifty-two week high of $1.76. The business has a fifty day moving average of $0.42 and a 200-day moving average of $0.73. The stock has a market cap of $78.42 million, a price-to-earnings ratio of 49.03 and a beta of 2.01.

SelectQuote (NYSE:SLQT - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.12. The firm had revenue of $280.01 million during the quarter, compared to the consensus estimate of $277.91 million. SelectQuote had a net margin of 4.61% and a return on equity of 22.48%. As a group, analysts predict that SelectQuote will post -0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Timothy Danker purchased 100,668 shares of the company's stock in a transaction that occurred on Friday, November 6th. The stock was purchased at an average price of $0.50 per share, with a total value of $50,334.00. Following the completion of the transaction, the chief executive officer owned 3,076,073 shares of the company's stock, valued at approximately $1,538,036.50. This trade represents a 3.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO William Grant, III purchased 79,600 shares of the business's stock in a transaction on Friday, November 6th. The shares were bought at an average cost of $0.51 per share, for a total transaction of $40,596.00. Following the purchase, the chief operating officer owned 3,468,094 shares of the company's stock, valued at $1,768,727.94. This trade represents a 2.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 919,905 shares of company stock valued at $446,916. 11.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SelectQuote

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of SelectQuote in the 2nd quarter valued at about $1,836,000. GSA Capital Partners LLP purchased a new stake in shares of SelectQuote during the 2nd quarter worth about $1,123,000. Renaissance Technologies LLC increased its position in SelectQuote by 817.6% during the 1st 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 in the last quarter. Squarepoint Ops LLC acquired a new stake in SelectQuote during the 2nd quarter worth approximately $536,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in SelectQuote during the 2nd quarter worth approximately $461,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

About SelectQuote

SelectQuote, Inc. operates a direct-to-consumer insurance distribution platform that helps consumers compare coverage from multiple insurance providers. Its licensed agents assist customers with evaluating options and selecting policies. The company offers Medicare-related products, including Medicare Advantage, Medicare Supplement and prescription drug plans, as well as life, auto and home insurance. Its services also include SelectRx, which provides pharmacy and medication-management services.

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