SelectQuote (NYSE:SLQT) Stock Price Down 3.4% – Here’s Why

SelectQuote, Inc. (NYSE:SLQT)’s share price traded down 3.4% during mid-day trading on Tuesday . The stock traded as low as $3.70 and last traded at $3.70. 293,627 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 1,013,559 shares. The stock had previously closed at $3.83.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Craig Hallum began coverage on shares of SelectQuote in a report on Monday, September 30th. They set a “buy” rating and a $4.50 price target on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.00 target price on shares of SelectQuote in a research note on Friday, November 22nd.

SelectQuote Price Performance

The stock’s 50 day moving average price is $2.65 and its 200-day moving average price is $2.90. The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 2.36. The stock has a market capitalization of $622.56 million, a PE ratio of -12.96 and a beta of 1.22.

SelectQuote (NYSE:SLQT) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The company had revenue of $292.26 million during the quarter, compared to analysts’ expectations of $275.15 million. SelectQuote had a negative net margin of 3.45% and a negative return on equity of 15.00%. During the same period last year, the firm earned ($0.19) earnings per share. As a group, equities analysts forecast that SelectQuote, Inc. will post -0.2 EPS for the current year.

Institutional Investors Weigh In On SelectQuote

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Panagora Asset Management Inc. raised its holdings in shares of SelectQuote by 85.5% in the second quarter. Panagora Asset Management Inc. now owns 410,009 shares of the company’s stock valued at $1,132,000 after acquiring an additional 189,029 shares in the last quarter. KCM Investment Advisors LLC bought a new stake in shares of SelectQuote in the 3rd quarter valued at about $608,000. Creative Planning lifted its position in shares of SelectQuote by 6.6% in the 3rd quarter. Creative Planning now owns 100,019 shares of the company’s stock worth $217,000 after purchasing an additional 6,150 shares during the period. Bank of New York Mellon Corp lifted its position in shares of SelectQuote by 14.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 472,849 shares of the company’s stock worth $1,305,000 after purchasing an additional 58,481 shares during the period. Finally, State Street Corp boosted its stake in shares of SelectQuote by 0.7% during the third quarter. State Street Corp now owns 2,894,067 shares of the company’s stock valued at $6,280,000 after purchasing an additional 21,413 shares in the last quarter. 34.59% of the stock is owned by institutional investors.

SelectQuote Company Profile

SelectQuote, Inc operates a technology-enabled, direct-to-consumer distribution platform that sells a range of insurance products and healthcare services in the United States. The company operates through three segments: Senior; Life; and Auto & Home. It distributes senior health policies, such as medicare advantage, medicare supplement, medicare part D, and other ancillary senior health insurance related products, including prescription drugs, dental, vision, and hearing plans; life insurance products, such as term life, final expense, and other ancillary products, including critical illness, accidental death, and juvenile insurance; homeowners, auto, dwelling fire, and other ancillary insurance products; and non-commercial auto and home property, and casualty policies.