Connecture Inc. (CNXR) Upgraded by Zacks Investment Research to “Hold”
According to Zacks, “Connecture, Inc. provides web-based consumer shopping, enrollment and retention platform for health insurance distribution. It operates primarily in the United States. Connecture, Inc. is based in Brookfield, United States. “
CNXR has been the topic of several other reports. Raymond James Financial Inc. lowered shares of Connecture from a strong-buy rating to a market perform rating in a research note on Tuesday, August 9th. Morgan Stanley lowered shares of Connecture from an overweight rating to an equal weight rating and lowered their target price for the stock from $6.00 to $2.00 in a research note on Tuesday, August 9th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Connecture presently has an average rating of Hold and an average price target of $6.00.
Shares of Connecture (NASDAQ:CNXR) traded down 0.96% during midday trading on Monday, reaching $2.07. The company’s stock had a trading volume of 7,953 shares. The stock’s market capitalization is $46.25 million. The company has a 50 day moving average price of $1.77 and a 200-day moving average price of $2.05. Connecture has a 52 week low of $1.15 and a 52 week high of $6.26.
Connecture (NASDAQ:CNXR) last posted its earnings results on Monday, August 8th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by $0.25. The firm had revenue of $18.70 million for the quarter, compared to analyst estimates of $18.21 million. The business’s revenue for the quarter was down 19.9% compared to the same quarter last year. On average, equities research analysts expect that Connecture will post ($0.56) EPS for the current year.
In related news, Director Ezra Perlman purchased 1,558,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were purchased at an average cost of $1.65 per share, with a total value of $2,570,700.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 58.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Spark Investment Management LLC raised its position in Connecture by 9.1% in the first quarter. Spark Investment Management LLC now owns 49,100 shares of the company’s stock worth $125,000 after buying an additional 4,100 shares during the period. BBR Partners LLC acquired a new position in Connecture during the second quarter worth $130,000. Guggenheim Capital LLC raised its position in Connecture by 104.5% in the second quarter. Guggenheim Capital LLC now owns 135,366 shares of the company’s stock worth $306,000 after buying an additional 69,164 shares during the period. Finally, Francisco Partners Management LP acquired a new position in Connecture during the second quarter worth $3,504,000. 45.21% of the stock is currently owned by institutional investors and hedge funds.
Connecture Company Profile
Connecture, Inc provides a Web-based consumer shopping, enrollment and retention platform for health insurance distribution. The Company caters its services to health insurance marketplace operators, such as health plans, brokers and exchange operators. It operates through four segments: Enterprise/Commercial, Enterprise/State, Medicare and Private Exchange.
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