Los Angeles Capital Management LLC Acquires 28,559 Shares of Benefitfocus, Inc. (NASDAQ:BNFT)

Los Angeles Capital Management LLC boosted its holdings in Benefitfocus, Inc. (NASDAQ:BNFTGet Rating) by 108.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,793 shares of the software maker’s stock after acquiring an additional 28,559 shares during the quarter. Los Angeles Capital Management LLC owned 0.16% of Benefitfocus worth $426,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. HighMark Wealth Management LLC bought a new position in shares of Benefitfocus during the 2nd quarter worth approximately $28,000. Amalgamated Bank bought a new position in shares of Benefitfocus during the 1st quarter worth approximately $48,000. SG Americas Securities LLC lifted its position in shares of Benefitfocus by 32.2% during the 2nd quarter. SG Americas Securities LLC now owns 20,736 shares of the software maker’s stock worth $161,000 after buying an additional 5,048 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Benefitfocus by 55.4% during the 1st quarter. MetLife Investment Management LLC now owns 13,846 shares of the software maker’s stock worth $175,000 after buying an additional 4,937 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Benefitfocus during the 1st quarter worth approximately $185,000. Institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BNFT. Piper Sandler set a $10.50 price target on shares of Benefitfocus in a research note on Wednesday, November 2nd. StockNews.com began coverage on shares of Benefitfocus in a research note on Wednesday, October 12th. They set a “hold” rating for the company. William Blair restated a “market perform” rating on shares of Benefitfocus in a research note on Thursday, August 4th. Finally, KeyCorp began coverage on shares of Benefitfocus in a research note on Thursday, September 15th. They set an “overweight” rating and a $10.00 price target for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.50.

Benefitfocus Trading Up 0.2 %

Benefitfocus stock opened at $10.39 on Friday. Benefitfocus, Inc. has a 1-year low of $5.68 and a 1-year high of $13.06. The firm has a market capitalization of $355.72 million, a price-to-earnings ratio of -14.23 and a beta of 1.63. The firm has a 50 day simple moving average of $7.08 and a 200 day simple moving average of $7.96.

About Benefitfocus

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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.

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Institutional Ownership by Quarter for Benefitfocus (NASDAQ:BNFT)

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