Zacks Investment Research Lowers SelectQuote (NYSE:SLQT) to Hold


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Zacks Investment Research lowered shares of SelectQuote (NYSE:SLQT) from a buy rating to a hold rating in a research report report published 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 brokerages have also commented on SLQT. Barclays increased their price objective on shares of SelectQuote from $32.00 to $36.00 and gave the stock an overweight rating in a report on Tuesday, February 9th. Citigroup raised their target price on shares of SelectQuote from $32.00 to $34.00 in a research note on Wednesday, February 10th. Morgan Stanley raised their target price on shares of SelectQuote from $25.00 to $27.00 and gave the company an equal weight rating in a research note on Tuesday, February 9th. The Goldman Sachs Group began coverage on shares of SelectQuote in a research note on Wednesday, March 31st. They issued a buy rating and a $36.00 target price on the stock. Finally, Credit Suisse Group raised their target price on shares of SelectQuote from $31.00 to $35.00 and gave the company an outperform rating in a research note on Tuesday, February 9th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $32.75.

Shares of NYSE:SLQT opened at $31.38 on Wednesday. SelectQuote has a 12 month low of $15.76 and a 12 month high of $33.00. The company’s 50-day moving average price is $29.14 and its two-hundred day moving average price is $23.86. The company has a quick ratio of 19.76, a current ratio of 19.76 and a debt-to-equity ratio of 0.57. The firm has a market cap of $5.12 billion and a P/E ratio of -196.13.

SelectQuote (NYSE:SLQT) last issued its quarterly earnings data on Sunday, February 7th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.08. The company had revenue of $358.27 million for the quarter, compared to the consensus estimate of $317.10 million. During the same period in the prior year, the company earned ($0.56) EPS. The firm’s revenue was up 103.2% compared to the same quarter last year. As a group, equities analysts predict that SelectQuote will post 0.83 earnings per share for the current fiscal year.

In other SelectQuote news, CEO Timothy Robert Danker sold 12,900 shares of the firm’s stock in a transaction that occurred on Wednesday, January 20th. The shares were sold at an average price of $25.01, for a total transaction of $322,629.00. Following the sale, the chief executive officer now directly owns 1,723,843 shares in the company, valued at approximately $43,113,313.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Sq Co-Investors Llc sold 513,530 shares of the firm’s stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $26.47, for a total transaction of $13,593,139.10. Following the sale, the insider now owns 1,889,285 shares in the company, valued at $50,009,373.95. The disclosure for this sale can be found here. Insiders have sold a total of 1,528,913 shares of company stock worth $41,429,843 in the last three months. 10.28% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Harbor Investment Advisory LLC raised its holdings in shares of SelectQuote by 6,942.5% in the first quarter. Harbor Investment Advisory LLC now owns 28,170 shares of the company’s stock valued at $831,000 after purchasing an additional 27,770 shares during the last quarter. Country Club Trust Company n.a. acquired a new stake in shares of SelectQuote in the first quarter valued at approximately $279,000. Calamos Advisors LLC acquired a new stake in shares of SelectQuote in the first quarter valued at approximately $7,149,000. Valeo Financial Advisors LLC acquired a new stake in shares of SelectQuote in the first quarter valued at approximately $59,000. Finally, Brookside Equity Partners LLC acquired a new stake in shares of SelectQuote in the fourth quarter valued at approximately $466,544,000. Hedge funds and other institutional investors own 34.75% of the company’s stock.

About SelectQuote

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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