Connecture Inc. (CNXR) Rating Lowered to Hold at Zacks Investment Research
Connecture Inc. (NASDAQ:CNXR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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 research analysts have also issued reports about the company. Morgan Stanley lowered 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 report on Tuesday, August 9th. Raymond James Financial Inc. lowered Connecture from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, August 9th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $5.06.
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Shares of Connecture (NASDAQ:CNXR) traded up 1.0806% during midday trading on Monday, hitting $1.8801. The company’s stock had a trading volume of 17,139 shares. The firm’s market cap is $42.01 million. The firm has a 50-day moving average of $1.80 and a 200 day moving average of $2.04. Connecture has a 12-month low of $1.15 and a 12-month high of $6.26.
Connecture (NASDAQ:CNXR) last released its earnings results on Monday, August 8th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the Zacks’ 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 revenue for the quarter was down 19.9% compared to the same quarter last year. On average, equities research analysts predict that Connecture will post ($0.56) EPS for the current fiscal year.
In other Connecture news, Director Ezra Perlman purchased 443,593 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was bought at an average cost of $1.65 per share, with a total value of $731,928.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 58.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. 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 during the period. BBR Partners LLC acquired a new stake in shares of Connecture during the second quarter worth about $130,000. 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. Finally, Francisco Partners Management LP acquired a new stake in shares of Connecture during the second quarter worth about $3,504,000. 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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