Connecture Inc. (CNXR) Stock Rating Upgraded by Zacks Investment Research
Connecture Inc. (NASDAQ:CNXR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released 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. “
CNXR has been the subject of several other reports. Raymond James Financial Inc. cut Connecture from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, August 9th. Morgan Stanley cut Connecture from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $6.00 to $2.00 in a report on Tuesday, August 9th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $6.00.
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Shares of Connecture (NASDAQ:CNXR) traded up 3.98% during trading on Monday, hitting $2.09. The stock had a trading volume of 45,576 shares. The stock’s market capitalization is $46.70 million. Connecture has a one year low of $1.15 and a one year high of $6.26. The stock has a 50 day moving average price of $1.77 and a 200-day moving average price of $2.05.
Connecture (NASDAQ:CNXR) last released its quarterly earnings results 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 earned $18.70 million during the quarter, compared to analyst estimates of $18.21 million. The firm’s revenue was down 19.9% compared to the same quarter last year. On average, equities research analysts predict that Connecture will post ($0.56) earnings per share for the current year.
In related news, Director Ezra Perlman acquired 443,593 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was purchased at an average cost of $1.65 per share, with a total value of $731,928.45. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 58.10% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the stock. Guggenheim Capital LLC raised 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 valued at $306,000 after buying an additional 69,164 shares during the last quarter. Francisco Partners Management LP acquired a new position in shares of Connecture during the second quarter valued at about $3,504,000. BBR Partners LLC acquired a new position in shares of Connecture during the second quarter valued at about $130,000. Finally, Spark Investment Management LLC raised its position 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 valued at $189,000 after buying an additional 34,800 shares during the last quarter. 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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