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2023-01-01 17:02
Benefitfocus, Inc. (NASDAQ:BNFT – Get Rating) saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 826,600 shares, an increase of 21.8% from the November 30th total of 678,900 shares. Approximately 2.9% of the company's shares are short sold. Based on an average daily volume of 893,300 shares, the days-to-cover ratio is presently 0.9 days.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BNFT. Envestnet Asset Management Inc. raised its stake in Benefitfocus by 125.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 30,677 shares of the software maker's stock worth $387,000 after acquiring an additional 17,045 shares during the last quarter. Swiss National Bank raised its stake in Benefitfocus by 10.5% in the 1st quarter. Swiss National Bank now owns 63,300 shares of the software maker's stock worth $799,000 after acquiring an additional 6,000 shares during the last quarter. MetLife Investment Management LLC raised its stake in Benefitfocus by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 13,846 shares of the software maker's stock worth $175,000 after acquiring an additional 4,937 shares during the last quarter. BlackRock Inc. raised its stake in Benefitfocus by 5.5% in the 1st quarter. BlackRock Inc. now owns 1,984,412 shares of the software maker's stock worth $25,044,000 after acquiring an additional 104,003 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Benefitfocus by 37.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 271,924 shares of the software maker's stock worth $3,432,000 after acquiring an additional 73,442 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.
Get Benefitfocus alerts:Shares of BNFT opened at $10.46 on Friday. Benefitfocus has a 12 month low of $5.68 and a 12 month high of $13.06. The stock has a fifty day moving average price of $9.87 and a 200-day moving average price of $8.21. The firm has a market cap of $360.03 million, a PE ratio of -14.33 and a beta of 1.75.
Benefitfocus (NASDAQ:BNFT – Get Rating) last issued its quarterly earnings data on Monday, November 7th. The software maker reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The firm had revenue of $56.19 million during the quarter, compared to analysts' expectations of $56.04 million. As a group, research analysts forecast that Benefitfocus will post -0.27 EPS for the current year.Several analysts have issued reports on BNFT shares. KeyCorp cut Benefitfocus to a "sector weight" rating in a research report on Tuesday, November 15th. Piper Sandler set a $10.50 target price on Benefitfocus in a research report on Wednesday, November 2nd. Finally, StockNews.com cut Benefitfocus from a "buy" rating to a "hold" rating in a research report on Tuesday, December 20th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Benefitfocus currently has a consensus rating of "Hold" and a consensus target price of $10.50.
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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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