Zacks Investment Research lowered shares of Connecture Inc (NASDAQ:CNXR) from a hold rating to a sell rating in a report published on Friday.

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. “

Connecture (NASDAQ:CNXR) traded down 4.1898% on Friday, reaching $1.3126. 27,019 shares of the company traded hands. The stock’s 50 day moving average price is $1.93 and its 200 day moving average price is $1.85. The company’s market capitalization is $29.44 million. Connecture has a one year low of $1.15 and a one year high of $3.24.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Francisco Partners Management LP bought a new position in shares of Connecture during the fourth quarter valued at approximately $6,088,000. Keel Point LLC raised its position in shares of Connecture by 101.6% in the third quarter. Keel Point LLC now owns 75,600 shares of the company’s stock valued at $142,000 after buying an additional 38,100 shares during the period. Great Point Partners LLC bought a new position in shares of Connecture during the third quarter valued at approximately $7,759,000. Finally, Suntrust Banks Inc. raised its position in shares of Connecture by 202.4% in the third quarter. Suntrust Banks Inc. now owns 75,600 shares of the company’s stock valued at $142,000 after buying an additional 50,600 shares during the period. Institutional investors and hedge funds own 40.69% of the company’s stock.

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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