SelectQuote (NYSE:SLQT) Shares Gap Down – Here’s Why

SelectQuote, Inc. (NYSE:SLQT)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $5.73, but opened at $5.41. SelectQuote shares last traded at $5.55, with a volume of 1,110,651 shares.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SLQT. Noble Financial upgraded shares of SelectQuote to a “strong-buy” rating in a research note on Wednesday. Royal Bank of Canada restated a “sector perform” rating and issued a $4.00 target price on shares of SelectQuote in a research report on Friday, November 22nd.

SelectQuote Stock Performance

The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -21.09 and a beta of 1.15. The company’s 50 day simple moving average is $3.93 and its 200 day simple moving average is $3.16. The company has a debt-to-equity ratio of 2.36, a quick ratio of 6.66 and a current ratio of 6.66.

SelectQuote (NYSE:SLQT) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.21. SelectQuote had a negative net margin of 3.45% and a negative return on equity of 15.00%. On average, equities research analysts anticipate that SelectQuote, Inc. will post -0.2 earnings per share for the current year.

Institutional Trading of SelectQuote

Institutional investors have recently modified their holdings of the company. Mason Investment Advisory Services Inc. raised its position in SelectQuote by 33.3% in the third quarter. Mason Investment Advisory Services Inc. now owns 20,000 shares of the company’s stock worth $43,000 after acquiring an additional 5,000 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of SelectQuote in the 4th quarter worth approximately $47,000. Cibc World Markets Corp acquired a new stake in SelectQuote during the fourth quarter valued at approximately $47,000. Raymond James Financial Inc. bought a new stake in SelectQuote during the fourth quarter worth approximately $97,000. Finally, Intech Investment Management LLC acquired a new position in SelectQuote in the third quarter worth approximately $123,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

About SelectQuote

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.