Connecture Inc. (NASDAQ:CNXR) has earned a consensus rating of “Hold” from the six ratings firms that are currently covering the company. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $5.06.
A number of equities analysts have issued reports on CNXR shares. Zacks Investment Research lowered Connecture from a “hold” rating to a “strong sell” rating in a research note on Monday, August 1st. Raymond James Financial Inc. downgraded Connecture from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, August 9th. Finally, Morgan Stanley downgraded Connecture from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $6.00 to $2.00 in a research report on Tuesday, August 9th.
Shares of Connecture (NASDAQ:CNXR) remained flat at $1.87 during midday trading on Friday. 32,916 shares of the company’s stock traded hands. The stock’s market capitalization is $41.78 million. Connecture has a 12-month low of $1.15 and a 12-month high of $6.26. The company has a 50-day moving average of $1.79 and a 200-day moving average of $2.04.
Connecture (NASDAQ:CNXR) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by $0.25. The business earned $18.70 million during the quarter, compared to analysts’ expectations of $18.21 million. Connecture’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 fiscal year.
In related news, Director Ezra Perlman acquired 72,143 shares of the business’s stock in a transaction dated 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 filing with the SEC, which is accessible through this hyperlink. Insiders own 58.10% of the company’s stock.
Several large investors 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 during the period. 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 last quarter. Francisco Partners Management LP acquired a new stake in Connecture during the second quarter worth about $3,504,000. Finally, BBR Partners LLC acquired a new stake in Connecture during the second quarter worth about $130,000. Institutional investors own 45.21% of the company’s stock.
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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