Zacks Investment Research upgraded shares of Connecture Inc. (NASDAQ:CNXR) from a strong sell rating to a hold rating in a report published on Monday. Zacks Investment Research currently has $2.25 price objective on the stock.
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. “
Other research analysts have also issued research reports about the stock. Morgan Stanley lowered shares of Connecture from an overweight rating to an equal weight rating and decreased their price target for the company from $6.00 to $2.00 in a research note on Tuesday, August 9th. Raymond James Financial Inc. lowered shares of Connecture from a strong-buy rating to a market perform rating in a research report on Tuesday, August 9th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $5.06.
Shares of Connecture (NASDAQ:CNXR) opened at 1.90 on Monday. The company has a 50 day moving average of $1.78 and a 200-day moving average of $2.05. Connecture has a one year low of $1.15 and a one year high of $6.26. The firm’s market cap is $42.45 million.
Connecture (NASDAQ:CNXR) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.47) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by $0.25. The company had revenue of $18.70 million for the quarter, compared to analyst estimates of $18.21 million. The company’s revenue for the quarter was down 19.9% on a year-over-year basis. On average, analysts expect that Connecture will post ($0.56) EPS for the current year.
In other news, Director Ezra Perlman purchased 443,593 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was bought at an average price of $1.65 per share, with a total value of $731,928.45. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 58.10% of the company’s stock.
Several hedge funds have recently modified their holdings of CNXR. Guggenheim Capital LLC increased its stake in shares of 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. Francisco Partners Management LP purchased a new stake in shares of Connecture during the second quarter worth $3,504,000. BBR Partners LLC purchased a new stake in shares of Connecture during the second quarter worth $130,000. Finally, Spark Investment Management LLC increased its stake in shares of Connecture by 70.9% in the second quarter. Spark Investment Management LLC now owns 83,900 shares of the company’s stock worth $189,000 after buying an additional 34,800 shares during the period. 45.21% of the stock is owned by institutional investors.
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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