Connecture Inc. (NASDAQ:CNXR) has been given an average recommendation of “Hold” by the six brokerages that are currently covering the company. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $5.06.
Several research analysts recently weighed in on CNXR shares. Morgan Stanley cut shares of Connecture from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $6.00 to $2.00 in a research report on Tuesday, August 9th. Zacks Investment Research upgraded shares of Connecture from a “strong sell” rating to a “hold” rating and set a $2.25 price objective on the stock in a research report on Monday, October 10th. Finally, Raymond James Financial Inc. cut shares of Connecture from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, August 9th.
Shares of Connecture (NASDAQ:CNXR) opened at 1.86 on Friday. Connecture has a 1-year low of $1.15 and a 1-year high of $6.26. The stock has a 50 day moving average of $1.80 and a 200 day moving average of $2.04. The company’s market cap is $41.56 million.
Connecture (NASDAQ:CNXR) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.47) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by $0.25. The company had revenue of $18.70 million for the quarter, compared to the consensus estimate of $18.21 million. The company’s revenue was down 19.9% compared to the same quarter last year. Analysts predict that Connecture will post ($0.56) EPS for the current year.
In other news, Director Ezra Perlman bought 1,558,000 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was acquired at an average price of $1.65 per share, with a total value of $2,570,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 58.10% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of CNXR. Guggenheim Capital LLC raised its stake 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. Francisco Partners Management LP bought a new stake in Connecture during the second quarter worth $3,504,000. BBR Partners LLC bought a new stake in Connecture during the second quarter worth $130,000. Finally, Spark Investment Management LLC raised its stake in 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 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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