SG Americas Securities LLC Buys 5,048 Shares of Benefitfocus, Inc. (NASDAQ:BNFT)

SG Americas Securities LLC boosted its position in shares of Benefitfocus, Inc. (NASDAQ:BNFTGet Rating) by 32.2% in the second quarter, Holdings reports. The firm owned 20,736 shares of the software maker’s stock after acquiring an additional 5,048 shares during the period. SG Americas Securities LLC’s holdings in Benefitfocus were worth $161,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Horrell Capital Management Inc. boosted its position in shares of Benefitfocus by 3.1% during the second quarter. Horrell Capital Management Inc. now owns 333,809 shares of the software maker’s stock worth $2,597,000 after buying an additional 10,000 shares during the period. HighMark Wealth Management LLC acquired a new position in 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. BNP Paribas Arbitrage SA raised its holdings in shares of Benefitfocus by 4.6% in the first quarter. BNP Paribas Arbitrage SA now owns 116,712 shares of the software maker’s stock valued at $1,473,000 after purchasing an additional 5,180 shares during the last quarter. Finally, Siris Capital Group LLC lifted its position in shares of Benefitfocus by 129.7% in the first quarter. Siris Capital Group LLC now owns 1,483,047 shares of the software maker’s stock worth $18,716,000 after purchasing an additional 837,323 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BNFT shares. Piper Sandler set a $10.50 target price on shares of Benefitfocus in a research report on Wednesday, November 2nd. started coverage on Benefitfocus in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. KeyCorp initiated coverage on Benefitfocus in a report on Thursday, September 15th. They set an “overweight” rating and a $10.00 target price on the stock. Finally, William Blair restated a “market perform” rating on shares of Benefitfocus in a research note on Thursday, August 4th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.50.

Benefitfocus Price Performance

Benefitfocus stock opened at $10.39 on Friday. The company’s 50-day moving average is $7.08 and its 200-day moving average is $7.94. The firm has a market capitalization of $355.75 million, a PE ratio of -14.23 and a beta of 1.63. Benefitfocus, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $13.06.

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.

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Institutional Ownership by Quarter for Benefitfocus (NASDAQ:BNFT)

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