Connecture Inc. (NASDAQ:CNXR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to 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. “
A number of other equities research analysts also recently commented on the stock. 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. Morgan Stanley downgraded shares of Connecture from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $6.00 to $2.00 in a research report on Tuesday, August 9th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Connecture currently has a consensus rating of “Hold” and an average price target of $5.06.
Connecture (NASDAQ:CNXR) opened at 1.902 on Monday. The firm’s market capitalization is $42.50 million. The company’s 50-day moving average price is $1.81 and its 200-day moving average price is $2.03. Connecture has a 1-year low of $1.15 and a 1-year high of $6.26.
Connecture (NASDAQ:CNXR) last posted its earnings results on Monday, August 8th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by $0.25. The business had revenue of $18.70 million for the quarter, compared to analyst estimates of $18.21 million. The firm’s quarterly revenue was down 19.9% on a year-over-year basis. Equities research analysts expect that Connecture will post ($0.56) earnings per share for the current fiscal year.
In other Connecture news, Director Ezra Perlman acquired 72,143 shares of the business’s stock in a transaction dated Tuesday, September 13th. The stock was purchased at an average price of $1.65 per share, with a total value of $119,035.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 58.10% of the company’s stock.
Several large investors have recently modified their holdings of CNXR. Francisco Partners Management LP acquired a new stake in shares of Connecture during the second quarter worth about $3,504,000. 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 last quarter. BBR Partners LLC acquired a new stake in shares of Connecture during the second quarter worth about $130,000. Finally, Spark Investment Management LLC increased its stake 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 last quarter. 45.21% of the stock is owned by hedge funds and other institutional investors.
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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