Connecture Inc. (CNXR) Upgraded at Zacks Investment Research
Connecture Inc. (NASDAQ:CNXR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note 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 equities research analysts have also issued reports about the stock. Morgan Stanley lowered shares of Connecture from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $6.00 to $2.00 in a report on Tuesday, August 9th. Raymond James Financial Inc. downgraded shares of Connecture from a “strong-buy” rating to a “market perform” rating in a research 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 stock presently has an average rating of “Hold” and an average target price of $6.00.
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Shares of Connecture (NASDAQ:CNXR) traded up 3.98% on Monday, hitting $2.09. 45,576 shares of the stock were exchanged. The company has a 50-day moving average price of $1.77 and a 200-day moving average price of $2.05. Connecture has a one year low of $1.15 and a one year high of $6.26. The firm’s market capitalization is $46.70 million.
Connecture (NASDAQ:CNXR) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates 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% compared to the same quarter last year. Equities research analysts expect that Connecture will post ($0.56) earnings per share for the current year.
In other Connecture news, Director Ezra Perlman bought 443,593 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was acquired at an average price of $1.65 per share, with a total value of $731,928.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 58.10% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Francisco Partners Management LP purchased a new position in shares of Connecture during the second quarter worth approximately $3,504,000. Guggenheim Capital LLC increased 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 period. BBR Partners LLC purchased a new position in shares of Connecture during the second quarter worth approximately $130,000. Finally, Spark Investment Management LLC increased 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 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, 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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