SelectQuote (NYSE:SLQT) Raised to Hold at Zacks Research

SelectQuote (NYSE:SLQT) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

Several other brokerages also recently commented on SLQT. Wall Street Zen downgraded shares of SelectQuote from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Weiss Ratings lowered 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, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.00.

SelectQuote Stock Up 8.5%

Shares of SelectQuote stock opened at $0.35 on Monday. The business’s 50 day simple moving average is $0.47 and its two-hundred day simple moving average is $0.80. SelectQuote has a one year low of $0.30 and a one year high of $2.22.

SelectQuote (NYSE:SLQT) last announced its quarterly earnings data 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 business had revenue of $321.65 million during the quarter, compared to analysts’ expectations of $353.44 million. On average, research analysts predict that SelectQuote will post -0.20 EPS for the current fiscal year.

Hedge Funds Weigh In On SelectQuote

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in SelectQuote in the 2nd quarter worth $1,836,000. Renaissance Technologies LLC lifted its position in shares of SelectQuote by 817.6% in 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 during the period. GSA Capital Partners LLP purchased a new stake in shares of SelectQuote in the 2nd quarter worth about $1,123,000. Bank of America Corp DE bought a new stake in shares of SelectQuote during the 2nd quarter valued at about $328,000. Finally, Hsbc Holdings PLC bought a new stake in shares of SelectQuote during the 2nd quarter valued at about $102,000. Institutional investors own 34.59% of the company’s stock.

About SelectQuote

SelectQuote, Inc (NYSE: SLQT) operates a technology-enabled insurance distribution platform that helps consumers compare and purchase insurance products from third-party carriers. The company combines digital tools, proprietary data and licensed agents to connect customers with coverage suited to their needs.

SelectQuote’s primary business is its Senior segment, which provides access to Medicare Advantage, Medicare Supplement and prescription drug plans. The company has also historically offered life insurance, as well as auto and home insurance, through its Life and Auto & Home businesses.