GSA Capital Partners LLP purchased a new stake in Benefitfocus Inc (NASDAQ:BNFT) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,780 shares of the software maker’s stock, valued at approximately $665,000. GSA Capital Partners LLP owned approximately 0.06% of Benefitfocus as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Gofen & Glossberg LLC IL bought a new position in Benefitfocus in the second quarter valued at approximately $239,000. Trexquant Investment LP bought a new position in shares of Benefitfocus during the 2nd quarter worth approximately $284,000. First Mercantile Trust Co. boosted its stake in shares of Benefitfocus by 220.5% during the 1st quarter. First Mercantile Trust Co. now owns 11,626 shares of the software maker’s stock worth $284,000 after acquiring an additional 7,998 shares during the period. Aperio Group LLC boosted its stake in shares of Benefitfocus by 70.8% during the 1st quarter. Aperio Group LLC now owns 15,139 shares of the software maker’s stock worth $369,000 after acquiring an additional 6,275 shares during the period. Finally, Gagnon Securities LLC boosted its stake in shares of Benefitfocus by 20.7% during the 1st quarter. Gagnon Securities LLC now owns 16,457 shares of the software maker’s stock worth $402,000 after acquiring an additional 2,818 shares during the period. Hedge funds and other institutional investors own 93.58% of the company’s stock.
In other Benefitfocus news, Director Francis J. Pelzer sold 5,000 shares of the company’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $42.02, for a total value of $210,100.00. Following the sale, the director now owns 19,275 shares in the company, valued at approximately $809,935.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Francis J. Pelzer sold 750 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $40.00, for a total value of $30,000.00. Following the completion of the sale, the director now owns 24,275 shares in the company, valued at approximately $971,000. The disclosure for this sale can be found here. Insiders have sold a total of 10,045 shares of company stock worth $399,056 in the last 90 days. 29.00% of the stock is currently owned by corporate insiders.
Several research analysts have recently commented on BNFT shares. Guggenheim started coverage on Benefitfocus in a research note on Monday, August 20th. They set a “buy” rating and a $45.00 target price for the company. ValuEngine upgraded Benefitfocus from a “hold” rating to a “buy” rating in a research note on Monday, August 6th. Jefferies Financial Group restated a “buy” rating and issued a $43.00 price target on shares of Benefitfocus in a research note on Friday, July 20th. BidaskClub downgraded Benefitfocus from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. Finally, Zacks Investment Research downgraded Benefitfocus from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $37.90.
Shares of Benefitfocus stock traded up $0.76 during trading on Friday, reaching $38.53. 295,887 shares of the company’s stock were exchanged, compared to its average volume of 226,437. The company has a debt-to-equity ratio of -3.49, a quick ratio of 0.98 and a current ratio of 0.98. Benefitfocus Inc has a 1-year low of $21.75 and a 1-year high of $44.70. The stock has a market capitalization of $1.29 billion, a P/E ratio of -48.77 and a beta of 1.08.
Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings results on Thursday, August 2nd. The software maker reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. The business had revenue of $60.60 million for the quarter, compared to analyst estimates of $56.93 million. Benefitfocus’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm posted ($0.05) EPS. On average, research analysts forecast that Benefitfocus Inc will post -1.22 earnings per share for the current year.
Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers in the United States. It operates through Employer and Carrier segments. The company's products for insurance carriers include Marketplaces, which are online shopping environments; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution for communication; eSales for carriers and brokers to organize and manage accounts, track leads, generate quotes, and create proposals for products; and Core & Advanced Analytics, a data analytics solution.
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