SelectQuote (NYSE:SLQT) Stock Jumps 2.7% – Time to Buy?

SelectQuote, Inc. (NYSE:SLQT)’s share price was up 2.7% on Thursday. The stock traded as high as $0.3444 and last traded at $0.3410. Approximately 1,102,517 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 1,146,332 shares. The stock had previously closed at $0.3320.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SLQT shares. Zacks Research lowered shares of SelectQuote from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 27th. Weiss Ratings cut SelectQuote from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Finally, Wall Street Zen cut shares of SelectQuote from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. 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. According to MarketBeat, SelectQuote has a consensus rating of “Hold” and an average target price of $3.00.

SelectQuote Stock Up 2.7%

The company has a market cap of $61.13 million, a PE ratio of -4.26 and a beta of 1.95. The company has a debt-to-equity ratio of 0.99, a quick ratio of 6.57 and a current ratio of 6.57. The firm has a fifty day simple moving average of $0.53 and a 200 day simple moving average of $0.74.

SelectQuote (NYSE:SLQT) last issued its earnings results on Tuesday, August 25th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.03). The firm had revenue of $321.65 million during the quarter, compared to analysts’ expectations of $353.44 million. SelectQuote had a return on equity of 19.70% and a net margin of 3.84%. Equities research analysts predict that SelectQuote, Inc. will post -0.20 EPS for the current year.

Institutional Investors Weigh In On SelectQuote

Several hedge funds and other institutional investors have recently bought and sold shares of SLQT. BlackRock Inc. acquired a new stake in SelectQuote in the second quarter valued at $1,836,000. GSA Capital Partners LLP bought a new stake in shares of SelectQuote in the 2nd quarter valued at approximately $1,123,000. Renaissance Technologies LLC increased its stake in SelectQuote by 817.6% during the first quarter. Renaissance Technologies LLC now owns 1,021,239 shares of the company’s stock valued at $643,000 after purchasing an additional 909,939 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of SelectQuote during the second quarter valued at approximately $536,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of SelectQuote in the second quarter valued at approximately $461,000. 34.59% of the stock is currently owned by hedge funds and other institutional investors.

SelectQuote Company Profile

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.