SelectQuote (NYSE:SLQT) Lowered to Hold at Zacks Investment Research

Wednesday, April 14, 2021 | MarketBeat

SelectQuote (NYSE:SLQT) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, "SelectQuote Inc. is building and operating insurance exchanges for life, Medicare, auto and home insurance products. SelectQuote Inc. is based in Overland Park, United States. "

A number of other equities analysts also recently weighed in on the company. Citigroup boosted their target price on SelectQuote from $32.00 to $34.00 in a research note on Wednesday, February 10th. Barclays lifted their target price on SelectQuote from $32.00 to $36.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 9th. Credit Suisse Group increased their price target on shares of SelectQuote from $31.00 to $35.00 and gave the company an "outperform" rating in a research report on Tuesday, February 9th. The Goldman Sachs Group began coverage on shares of SelectQuote in a research report on Wednesday, March 31st. They issued a "buy" rating and a $36.00 price objective on the stock. Finally, Evercore ISI increased their target price on shares of SelectQuote from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Tuesday, February 9th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. SelectQuote has an average rating of "Buy" and a consensus price target of $32.75.

SLQT opened at $32.25 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 19.76 and a quick ratio of 19.76. The company's 50-day moving average is $29.05 and its 200 day moving average is $23.67. The firm has a market capitalization of $5.26 billion and a PE ratio of -201.56. SelectQuote has a fifty-two week low of $15.76 and a fifty-two week high of $33.00.

SelectQuote (NYSE:SLQT) last released its quarterly earnings results on Sunday, February 7th. The company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.08. The company had revenue of $358.27 million during the quarter, compared to analysts' expectations of $317.10 million. The company's quarterly revenue was up 103.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.56) earnings per share. As a group, analysts expect that SelectQuote will post 0.83 EPS for the current year.

In related news, CEO Timothy Robert Danker sold 12,900 shares of the business's stock in a transaction dated Wednesday, January 20th. The stock was sold at an average price of $25.01, for a total transaction of $322,629.00. Following the completion of the transaction, the chief executive officer now directly owns 1,723,843 shares in the company, valued at $43,113,313.43. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO William Thomas Grant III sold 12,800 shares of the company's stock in a transaction dated Wednesday, January 20th. The stock was sold at an average price of $25.01, for a total value of $320,128.00. Following the completion of the transaction, the chief operating officer now owns 1,625,573 shares in the company, valued at $40,655,580.73. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,528,913 shares of company stock valued at $41,429,843. 10.28% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in SLQT. Brookside Equity Partners LLC bought a new position in shares of SelectQuote in the 4th quarter worth $466,544,000. Bank of New York Mellon Corp raised its position in SelectQuote by 4,110.2% during the fourth quarter. Bank of New York Mellon Corp now owns 3,900,199 shares of the company's stock valued at $80,929,000 after purchasing an additional 3,807,561 shares in the last quarter. Mariner LLC boosted its holdings in shares of SelectQuote by 4,826.4% in the 4th quarter. Mariner LLC now owns 1,901,895 shares of the company's stock worth $39,464,000 after purchasing an additional 1,863,289 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of SelectQuote by 21.1% in the 4th quarter. JPMorgan Chase & Co. now owns 8,840,754 shares of the company's stock worth $183,446,000 after purchasing an additional 1,542,094 shares in the last quarter. Finally, Trust Co. of Vermont purchased a new position in shares of SelectQuote during the 4th quarter valued at about $18,691,000. Institutional investors and hedge funds own 34.75% of the company's stock.

SelectQuote Company Profile

Founded in 1985, SelectQuote (NYSE: SLQT) provides solutions that help consumers protect their most valuable assets: their families, health and property. The company pioneered the direct-to-consumer model of providing unbiased comparisons from multiple, highly-rated insurance companies allowing consumers to choose the policy and terms that best meet their unique needs.

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