Connecture Inc (CNXR) is Downgraded by Morgan Stanley to Equal-Weight

Connecture Inc (CNXR) was Downgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Aug 9, 2016.

On the company’s financial health, Connecture Inc reported $-0.47 EPS for the quarter, missing the analyst consensus estimate by $ -0.25 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $-0.22. The company had revenue of $18.73 million for the quarter, compared to analysts expectations of $18.21 million. The company’s revenue was down -19.9 % compared to the same quarter last year.

Connecture Inc opened for trading at $2.49 and hit $2.56 on the upside on Monday, eventually ending the session at $2.54, with a gain of 4.10% or 0.1 points. The heightened volatility saw the trading volume jump to 84,707 shares. Company has a market cap of $56 M.

In a different news, on Jun 14, 2016, James P Purko (CFO) purchased 7,500 shares at $1.78 per share price. According to the SEC, on Jun 14, 2016, David A Sockel (Executive VP, Strat & Corp Dev) purchased 4,635 shares at $1.54 per share price. On Jun 14, 2016, A. John Ansay (director) purchased 25,000 shares at $1.58 per share price, according to the Form-4 filing with the securities and exchange commission.

Connecture Inc. provides a Web-based consumer shopping enrollment and retention platform for health insurance distribution. The Company operates through four segments: Enterprise/Commercial Enterprise/State Medicare and Private Exchange. The Enterprise/Commercial segment offers the Company’s insurance distribution solutions to health plans. The Enterprise/State segment offers the Company’s sales automation solutions to state Governments which allow its state Government customers to offer customized individual and small group exchanges. The Medicare segment offers Web-based Medicare plan comparison prescription drug comparison and enrollment tools for health plans pharmacy benefit managers pharmacies field marketing organizations and call centers. The Private Exchange segment offers defined-contribution benefit exchange solutions to benefit consultants brokers exchange operators and aggregators.

Connecture Inc

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