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

Shares of SelectQuote, Inc. (NYSE:SLQT) 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 trading hands.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued a “sector perform” rating and set a $4.00 price target on shares of SelectQuote in a research note on Friday, November 22nd.

SelectQuote Stock Down 1.8 %

The company has a debt-to-equity ratio of 2.36, a current ratio of 6.66 and a quick ratio of 6.66. The company has a market capitalization of $964.74 million, a P/E ratio of -20.05 and a beta of 1.15. The stock has a 50-day moving average price of $3.82 and a 200-day moving average price of $3.12.

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

Institutional Investors Weigh In On SelectQuote

A number of hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in shares of SelectQuote by 66.8% during the fourth quarter. JPMorgan Chase & Co. now owns 716,784 shares of the company’s stock valued at $2,666,000 after buying an additional 287,128 shares during the last quarter. Vanguard Group Inc. boosted its position in SelectQuote by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 7,363,421 shares of the company’s stock worth $27,392,000 after purchasing an additional 120,280 shares during the last quarter. American Century Companies Inc. raised its stake in shares of SelectQuote by 41.5% in the fourth quarter. American Century Companies Inc. now owns 312,000 shares of the company’s stock valued at $1,161,000 after buying an additional 91,497 shares during the period. Kazazian Asset Management LLC bought a new stake in shares of SelectQuote in the fourth quarter valued at $453,000. Finally, Cibc World Markets Corp bought a new stake in shares of SelectQuote during the 4th quarter valued at $47,000. 34.59% of the stock is currently owned by institutional investors.

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.