RTTNews | Aug 26, 2021 12:22PM EDT

12:22 Thursday, August 26, 2021 (RTTNews.com) - Kansas-based finserv company, SelectQuote, Inc. (SLQT) plummeted 44% in the Thursday market after reporting a decrease in profit for the fourth quarter. The shares are at their lowest since getting listed in May, suffering a 74% fall. SelectQuote reported a net income of $3.31 million or $0.02 per share compared to $20.04 million or $0.13 per share in the same quarter last year. On an adjusted basis, the net income was $3.32 million, compared to $20.04 million last year. On average, 8 analysts polled by Thomson Reuters forecast the earnings to be $0.04 for the quarter. The net income dropped due to an increase in operating cost to $174.48 million from $105.85 million last year. The revenue for the company increased to $188.44 million from $141.44 in the last term. The increase in revenue was chiefly due to a 42% increase in the Senior segment to $124.40 million, slightly offset by a 41% drop in the Auto and Home segment year-over-year. Five analysts expected the revenue to be $184.93 million. The shares are currently trading at $8.01, down $6.34 or 44.18% from their previous close at $14.35 on Wednesday. The shares opened at $9.00 and in the 52-week period, the shares have ranged between $7.72 and $33.00.

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