SelectQuote (NYSE:SLQT) Stock Jumps 2.7% – Here’s What Happened

SelectQuote, Inc. (NYSE:SLQT) shares rose 2.7% during mid-day trading on Thursday. The stock traded as high as $0.3444 and last traded at $0.3410. 1,102,517 shares were traded during mid-day trading, a decline of 4% from the average session volume of 1,146,332 shares. The stock had previously closed at $0.3320.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SLQT. Wall Street Zen cut shares of SelectQuote from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Zacks Research lowered shares of SelectQuote from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 27th. Finally, Weiss Ratings cut shares of SelectQuote from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SelectQuote has a consensus rating of “Hold” and a consensus price target of $3.00.

SelectQuote Stock Performance

The company has a market capitalization of $58.08 million, a PE ratio of -4.05 and a beta of 1.95. The company has a current ratio of 6.57, a quick ratio of 6.57 and a debt-to-equity ratio of 0.99. The business’s fifty day moving average is $0.52 and its two-hundred day moving average is $0.74.

SelectQuote (NYSE:SLQT) last issued its 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). The business had revenue of $321.65 million for the quarter, compared to analysts’ expectations of $353.44 million. SelectQuote had a net margin of 3.84% and a return on equity of 19.70%. Equities research analysts predict that SelectQuote, Inc. will post -0.20 earnings per share for the current year.

Institutional Investors Weigh In On SelectQuote

Several institutional investors have recently modified their holdings of the business. Fragasso Financial Advisors Inc bought a new stake in SelectQuote in the 3rd quarter worth about $61,000. Squarepoint Ops LLC purchased a new position in SelectQuote in the 2nd quarter worth about $536,000. Hsbc Holdings PLC raised its position in SelectQuote by 850.0% in the 2nd quarter. Hsbc Holdings PLC now owns 122,430 shares of the company’s stock worth $102,000 after buying an additional 109,543 shares during the last quarter. Empowered Funds LLC purchased a new position in SelectQuote in the 2nd quarter worth about $245,000. Finally, Corient Private Wealth LP bought a new position in SelectQuote during the 2nd quarter valued at about $71,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

About SelectQuote

SelectQuote, Inc is a technology-enabled insurance distribution company that helps consumers compare and purchase insurance products through online tools, call centers and licensed agents. The company connects customers with insurance carriers and earns revenue primarily through commissions and other payments for policies sold.

SelectQuote’s principal offerings include Medicare-related health insurance, such as Medicare Advantage, Medicare Supplement and prescription drug plans; life insurance, including term and final-expense policies; and auto and home insurance.