Connecture Inc. (NASDAQ:CNXR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday. The firm currently has a $2.25 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 11.39% from the company’s previous close.
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 also recently issued research reports about the stock. Morgan Stanley downgraded shares of Connecture from an “overweight” rating to an “equal weight” rating and reduced 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 shares of 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 stock. The stock has an average rating of “Hold” and an average price target of $5.06.
Connecture (NASDAQ:CNXR) opened at 2.02 on Monday. The stock has a 50 day moving average of $1.78 and a 200 day moving average of $2.05. The firm’s market cap is $45.13 million. Connecture has a 52 week low of $1.15 and a 52 week high of $6.26.
Connecture (NASDAQ:CNXR) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by $0.25. The business had revenue of $18.70 million for the quarter, compared to analysts’ expectations of $18.21 million. The business’s revenue for the quarter was down 19.9% on a year-over-year basis. Analysts anticipate that Connecture will post ($0.56) EPS for the current year.
In related news, Director Ezra Perlman purchased 1,558,000 shares of Connecture stock in a transaction that occurred on Thursday, August 11th. The shares were acquired at an average price of $1.65 per share, for a total transaction of $2,570,700.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 58.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Spark Investment Management LLC increased its position 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 valued at $125,000 after buying an additional 4,100 shares during the period. 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 valued at $306,000 after buying an additional 69,164 shares during the period. Francisco Partners Management LP bought a new position in shares of Connecture during the second quarter valued at about $3,504,000. Finally, BBR Partners LLC bought a new position in shares of Connecture during the second quarter valued at about $130,000. Institutional investors and hedge funds 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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