Connecture Inc. (CNXR) Receives Average Recommendation of “Hold” from Analysts
Connecture Inc. (NASDAQ:CNXR) has received an average recommendation of “Hold” from the six brokerages that are currently covering the company. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $5.06.
Several analysts have recently commented on CNXR shares. Zacks Investment Research cut Connecture from a “hold” rating to a “strong sell” rating in a report on Monday, August 1st. Raymond James Financial Inc. cut Connecture from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, August 9th. Finally, Morgan Stanley cut Connecture from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $6.00 to $2.00 in a report on Tuesday, August 9th.
In other news, Director Ezra Perlman acquired 443,593 shares of Connecture stock in a transaction that occurred on Thursday, August 25th. The stock was purchased 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 58.10% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Spark Investment Management LLC boosted its position in 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 bought a new position in Connecture during the second quarter worth $130,000. Guggenheim Capital LLC boosted its position 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 period. Finally, Francisco Partners Management LP bought a new position in Connecture during the second quarter worth $3,504,000. 45.21% of the stock is owned by hedge funds and other institutional investors.
Connecture (NASDAQ:CNXR) remained flat at $1.87 during trading on Friday. The company’s stock had a trading volume of 32,916 shares. Connecture has a 12-month low of $1.15 and a 12-month high of $6.26. The stock’s 50 day moving average price is $1.79 and its 200-day moving average price is $2.04. The company’s market cap is $41.78 million.
Connecture (NASDAQ:CNXR) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.22) by $0.25. The firm earned $18.70 million during the quarter, compared to analyst estimates of $18.21 million. The firm’s revenue was down 19.9% compared to the same quarter last year. Equities research analysts predict that Connecture will post ($0.56) EPS for the current year.
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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