Chrysalis Ventures II LP
disclosed that they own 21.7% of Connecture Inc (NASDAQ:CNXR) in a Form 13D disclosure that was filed with the Securities and Exchange Commission on Monday, March 20th. The investor owns 5,088,643 shares of the stock worth $6,727,186. The reporting parties listed on the disclosure included Chrysalis Ventures II, LP and Chrysalis Partners II, LLC. The filing is available through Edgar at this hyperlink.
Other large investors have also recently added to or reduced their stakes in the company. Suntrust Banks Inc. increased its stake in Connecture by 202.4% in the third quarter. Suntrust Banks Inc. now owns 75,600 shares of the company’s stock worth $142,000 after buying an additional 50,600 shares during the period. Keel Point LLC increased its stake in Connecture by 101.6% in the third quarter. Keel Point LLC now owns 75,600 shares of the company’s stock worth $142,000 after buying an additional 38,100 shares during the period. Francisco Partners Management LP purchased a new stake in Connecture during the fourth quarter worth $6,088,000. Finally, Great Point Partners LLC purchased a new stake in Connecture during the third quarter worth $7,759,000. 40.69% of the stock is currently owned by institutional investors and hedge funds.
Connecture Inc (NASDAQ:CNXR) traded down 3.504% during midday trading on Monday, reaching $1.322. The company had a trading volume of 29,370 shares. Connecture Inc has a one year low of $1.15 and a one year high of $3.24. The stock’s 50 day moving average price is $1.93 and its 200-day moving average price is $1.85. The firm’s market capitalization is $29.65 million.
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Separately, Zacks Investment Research downgraded Connecture from a “buy” rating to a “hold” rating in a research report on Monday, February 6th.
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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