Summit Asset Management adds Connecture Inc (CNXR) to its portfolio

Connecture Inc (CNXR) : Summit Asset Management added new position in Connecture Inc during the most recent quarter end. The investment management firm now holds 10,000 shares of Connecture Inc which is valued at $17,300 , the company said in a statement filed on Aug 8, 2016 with the SEC.Connecture Inc makes up approximately 0.01% of Summit Asset Management’s portfolio.

Other Hedge Funds, Including , Blair William Coil sold out all of its stake in CNXR during the most recent quarter. The investment firm sold 14,187 shares of CNXR which is valued $24,544.Brown Advisory Securities boosted its stake in CNXR in the latest quarter, The investment management firm added 10,000 additional shares and now holds a total of 21,111 shares of Connecture Inc which is valued at $51,511. Connecture Inc makes up approx 0.02% of Brown Advisory Securities’s portfolio.Montag A Associates Inc reduced its stake in CNXR by selling 3,000 shares or 4.82% in the most recent quarter. The Hedge Fund company now holds 59,277 shares of CNXR which is valued at $147,600. Connecture Inc makes up approx 0.02% of Montag A Associates Inc’s portfolio. California State Teachers Retirement System sold out all of its stake in CNXR during the most recent quarter. The investment firm sold 15,123 shares of CNXR which is valued $37,656. Fny Managed Accounts added CNXR to its portfolio by purchasing 2,000 company shares during the most recent quarter which is valued at $4,620.

Connecture Inc opened for trading at $1.78 and hit $1.93 on the upside on Monday, eventually ending the session at $1.74, with a gain of 0.58% or 0.01 points. The heightened volatility saw the trading volume jump to 1,72,741 shares. Company has a market cap of $39 M.

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.

Many Wall Street Analysts have commented on Connecture Inc. Connecture Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Aug 9, 2016. Connecture Inc was Downgraded by Raymond James to ” Mkt Perform” on Aug 9, 2016.

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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