Morgan Stanley Downgrades Connecture Inc to Equal-weight with Price Target $2.00

Brokerage firm Morgan Stanley Downgrades its rating on Connecture Inc(NASDAQ:CNXR). In a research note issued to the investors, the brokerage major Lowers the price-target to $2.00 per share. The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Morgan Stanley was issued on Aug 9, 2016.

In a different note, On Aug 9, 2016, Raymond James said it Downgrades its rating on Connecture Inc. The shares have been rated ‘Market Perform’ by the firm.

Connecture Inc (CNXR) shares turned negative on Wednesdays trading session with the shares closing down -0.05 points or -2.94% at a volume of 1,58,728. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.74. The peak price level was also seen at $1.74 while the days lowest was $1.631. Finally the shares closed at $1.65. The 52-week high of the shares is $7.93 while the 52-week low is $1.15. According to the latest information available, the market cap of the company is $37 M.

Connecture Inc(CNXR) last announced its earnings results on Aug 8, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $18.73M. Analysts had an estimated revenue of $18.21M. Earnings per share were $-0.36. Analysts had estimated an EPS of $-0.22.

Several Insider Transactions has been reported to the SEC. On Jun 14, 2016, James P Purko (CFO) purchased 7,500 shares at $1.78 per share price.Also, 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.

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