Connor Clark & Lunn Investment Management Ltd. Increases Stake in SelectQuote, Inc. (NYSE:SLQT)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of SelectQuote, Inc. (NYSE:SLQT - Free Report) by 62.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,251,828 shares of the company's stock after buying an additional 478,997 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.73% of SelectQuote worth $4,181,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sona Asset Management US LLC purchased a new position in SelectQuote in the fourth quarter worth $2,847,000. Vanguard Group Inc. boosted its position in SelectQuote by 7.0% in the first quarter. Vanguard Group Inc. now owns 7,880,173 shares of the company's stock worth $26,320,000 after purchasing an additional 516,752 shares during the last quarter. Marshall Wace LLP boosted its position in SelectQuote by 48.1% in the fourth quarter. Marshall Wace LLP now owns 1,052,239 shares of the company's stock worth $3,914,000 after purchasing an additional 341,981 shares during the last quarter. AXA S.A. purchased a new position in SelectQuote in the fourth quarter worth $1,223,000. Finally, JPMorgan Chase & Co. boosted its position in SelectQuote by 66.8% in the fourth quarter. JPMorgan Chase & Co. now owns 716,784 shares of the company's stock worth $2,666,000 after purchasing an additional 287,128 shares during the last quarter. Hedge funds and other institutional investors own 34.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Royal Bank Of Canada cut their price objective on SelectQuote from $7.00 to $6.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. Jefferies Financial Group began coverage on SelectQuote in a research report on Wednesday, May 21st. They issued a "hold" rating and a $2.75 price objective on the stock. Finally, Wall Street Zen cut SelectQuote from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, SelectQuote currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.42.

SelectQuote Stock Performance

Shares of NYSE SLQT traded down $0.05 during trading on Friday, reaching $1.94. 1,098,725 shares of the stock traded hands, compared to its average volume of 1,207,477. SelectQuote, Inc. has a 52-week low of $1.62 and a 52-week high of $6.86. The company has a debt-to-equity ratio of 1.04, a current ratio of 6.46 and a quick ratio of 6.46. The company has a 50-day moving average of $2.16 and a 200-day moving average of $3.02. The stock has a market capitalization of $335.08 million, a P/E ratio of -17.64 and a beta of 1.22.

SelectQuote Profile

SelectQuote, Inc operates a technology-enabled, direct-to-consumer distribution platform that sells a range of insurance products and healthcare services in the United States. The company operates through three segments: Senior; Life; and Auto & Home. It distributes senior health policies, such as medicare advantage, medicare supplement, medicare part D, and other ancillary senior health insurance related products, including prescription drugs, dental, vision, and hearing plans; life insurance products, such as term life, final expense, and other ancillary products, including critical illness, accidental death, and juvenile insurance; homeowners, auto, dwelling fire, and other ancillary insurance products; and non-commercial auto and home property, and casualty policies.