Mirae Asset Global Investments Co. Ltd. Cuts Stock Position in Benefitfocus, Inc. (NASDAQ:BNFT)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of Benefitfocus, Inc. (NASDAQ:BNFTGet Rating) by 5.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 388,179 shares of the software maker’s stock after selling 24,298 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 1.14% of Benefitfocus worth $4,899,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. BNP Paribas Arbitrage SA grew its stake in shares of Benefitfocus by 4.6% during the first quarter. BNP Paribas Arbitrage SA now owns 116,712 shares of the software maker’s stock worth $1,473,000 after acquiring an additional 5,180 shares during the last quarter. Siris Capital Group LLC grew its stake in shares of Benefitfocus by 129.7% during the first quarter. Siris Capital Group LLC now owns 1,483,047 shares of the software maker’s stock worth $18,716,000 after acquiring an additional 837,323 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Benefitfocus by 99.2% during the first quarter. Goldman Sachs Group Inc. now owns 173,487 shares of the software maker’s stock worth $2,189,000 after acquiring an additional 86,390 shares during the last quarter. Owls Nest Partners IA LLC grew its stake in shares of Benefitfocus by 17.7% during the first quarter. Owls Nest Partners IA LLC now owns 200,040 shares of the software maker’s stock worth $2,525,000 after acquiring an additional 30,040 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Benefitfocus by 25.8% during the first quarter. Renaissance Technologies LLC now owns 79,500 shares of the software maker’s stock worth $1,003,000 after acquiring an additional 16,300 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. William Blair reaffirmed a “market perform” rating on shares of Benefitfocus in a report on Thursday, August 4th. StockNews.com downgraded Benefitfocus from a “buy” rating to a “hold” rating in a report on Thursday, September 1st. KeyCorp assumed coverage on Benefitfocus in a report on Thursday, September 15th. They set an “overweight” rating and a $10.00 target price for the company. Finally, Piper Sandler decreased their target price on Benefitfocus from $9.00 to $6.00 in a report on Tuesday, September 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.00.

Benefitfocus Trading Down 3.2 %

Shares of NASDAQ:BNFT opened at $6.32 on Friday. Benefitfocus, Inc. has a 12-month low of $6.15 and a 12-month high of $13.06. The company has a market capitalization of $216.38 million, a PE ratio of -5.91 and a beta of 1.64. The business has a 50 day moving average of $7.46 and a two-hundred day moving average of $9.07.

Benefitfocus (NASDAQ:BNFTGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The software maker reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). The business had revenue of $56.59 million during the quarter, compared to the consensus estimate of $56.37 million. During the same period in the previous year, the firm earned ($0.31) earnings per share. Equities research analysts predict that Benefitfocus, Inc. will post -0.19 earnings per share for the current fiscal year.

Benefitfocus Company Profile

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Benefitfocus, Inc provides cloud-based benefits management technology solutions for employers and health plans in the United States. Its products for employers comprise Benefitplace, a cloud-based benefits management portal that streamlines online enrollment, employee communication, and benefit administration; Health Insights, a data analytics solution; ACA Management and Reporting, a solution for employers to manage ACA compliance; Billing & Payments, an application that synchronizes enrollment and billing information to streamline the monthly billing process, automate adjustments, and enhance accuracy of payments; and COBRA Administration, a solution that simplifies management of Consolidated Omnibus Budget Reconciliation Act, benefits.

Further Reading

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Institutional Ownership by Quarter for Benefitfocus (NASDAQ:BNFT)

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