SelectQuote (NYSE:SLQT) Shares Gap Down - What's Next?

SelectQuote, Inc. (NYSE:SLQT - Get Free Report)'s share price gapped down prior to trading 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.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SLQT shares. Noble Financial raised shares of SelectQuote to a "strong-buy" rating in a report on Wednesday. Royal Bank of Canada reiterated 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 Performance

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 firm has a 50-day simple moving average of $3.99 and a 200 day simple moving average of $3.17. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -21.41 and a beta of 1.15.

SelectQuote (NYSE:SLQT - Get Free Report) last announced its earnings results on Monday, February 10th. The company reported $0.30 earnings per share (EPS) for the quarter, topping 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, sell-side analysts predict that SelectQuote, Inc. will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SelectQuote

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC raised its stake in shares of SelectQuote by 166.8% during the third quarter. Barclays PLC now owns 198,357 shares of the company's stock worth $430,000 after purchasing an additional 124,005 shares during the last quarter. JPMorgan Chase & Co. raised its position in SelectQuote by 36.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 429,656 shares of the company's stock worth $932,000 after buying an additional 115,865 shares during the last quarter. KCM Investment Advisors LLC acquired a new stake in shares of SelectQuote in the 3rd quarter worth $608,000. SG Americas Securities LLC boosted its holdings in shares of SelectQuote by 10.5% in the fourth quarter. SG Americas Securities LLC now owns 91,508 shares of the company's stock valued at $340,000 after acquiring an additional 8,660 shares in the last quarter. Finally, State Street Corp increased 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 worth $6,280,000 after acquiring an additional 21,413 shares during the period. Hedge funds and other institutional investors own 34.59% of the company's stock.

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.