SelectQuote (NYSE:SLQT) Stock Rating Raised to “Hold” at Zacks Research

Zacks Research upgraded shares of SelectQuote (NYSE:SLQT) from a strong sell rating to a hold rating in a research note released on Monday morning,Zacks reports.

SLQT has been the subject of a number of other research reports. Weiss Ratings downgraded shares of SelectQuote from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Wall Street Zen cut SelectQuote from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. One research 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’s stock. Based on data from MarketBeat, SelectQuote has a consensus rating of “Hold” and an average target price of $3.00.

SelectQuote Price Performance

Shares of SLQT opened at $0.35 on Monday. The company’s fifty day moving average is $0.47 and its two-hundred day moving average is $0.80. SelectQuote has a 1 year low of $0.30 and a 1 year high of $2.22.

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 for the quarter, compared to analyst estimates of $353.44 million. On average, sell-side analysts predict that SelectQuote will post -0.20 earnings per share for the current year.

Hedge Funds Weigh In On SelectQuote

Large investors have recently made changes to their positions in the stock. Fragasso Financial Advisors Inc acquired a new stake in shares of SelectQuote in the third quarter valued at about $61,000. Squarepoint Ops LLC purchased a new stake in shares of SelectQuote during the 2nd quarter worth approximately $536,000. Hsbc Holdings PLC boosted its stake in shares of SelectQuote by 850.0% during the 2nd quarter. Hsbc Holdings PLC now owns 122,430 shares of the company’s stock worth $102,000 after acquiring an additional 109,543 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of SelectQuote during the 2nd quarter worth approximately $245,000. Finally, Corient Private Wealth LP acquired a new stake in shares of SelectQuote in the 2nd quarter worth approximately $71,000. Hedge funds and other institutional investors own 34.59% of the company’s stock.

SelectQuote Company Profile

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.