Connecture Inc. (NASDAQ:CNXR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
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 analysts also recently issued research reports about the company. Morgan Stanley downgraded Connecture from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $6.00 to $2.00 in a research note on Tuesday, August 9th. Raymond James Financial Inc. downgraded Connecture from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, August 9th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $5.06.
Shares of Connecture (NASDAQ:CNXR) traded up 1.0806% during midday trading on Monday, hitting $1.8801. The company had a trading volume of 17,139 shares. Connecture has a 12 month low of $1.15 and a 12 month high of $6.26. The stock’s 50-day moving average price is $1.80 and its 200-day moving average price is $2.04. The company’s market cap is $42.01 million.
Connecture (NASDAQ:CNXR) last announced its earnings results on Monday, August 8th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.22) by $0.25. The company earned $18.70 million during the quarter, compared to analysts’ expectations of $18.21 million. The firm’s quarterly revenue was down 19.9% on a year-over-year basis. On average, equities research analysts forecast that Connecture will post ($0.56) EPS for the current year.
In other news, Director Ezra Perlman acquired 72,143 shares of Connecture stock in a transaction on Tuesday, September 13th. The stock was bought at an average price of $1.65 per share, for a total transaction of $119,035.95. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 58.10% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in CNXR. Spark Investment Management LLC increased its stake in shares of 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 in the last quarter. BBR Partners LLC bought a new position in shares of Connecture during the second quarter worth about $130,000. Guggenheim Capital LLC boosted its position 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 last quarter. Finally, Francisco Partners Management LP bought a new position in shares of Connecture during the second quarter worth about $3,504,000. Institutional investors own 45.21% 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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