In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Connecture Inc. (NASDAQ:CNXR) reported that Francisco Partners Iv, L.p. has picked up 17,145,074 of common stock as of 2017-03-15.
The acquisition brings the aggregate amount owned by Francisco Partners Iv, L.p. to a total of 17,145,074 representing a 38.6% stake in the company.
For those not familiar with the company, Connecture, Inc. provides a Web-based consumer shopping, enrollment and retention platform for health insurance distribution. The Company caters its services to health insurance marketplace operators, such as health plans, brokers and exchange operators. It operates through four segments: Enterprise/Commercial, Enterprise/State, Medicare and Private Exchange. The Enterprise/Commercial segment offers insurance distribution solutions to health plans. The Enterprise/State segment offers the sales automation solutions to state Governments, which allow its customers to offer customized individual and small group exchanges. The Medicare segment offers Web-based Medicare plan comparison, prescription drug comparison and enrollment tools for health plans, pharmacy benefit managers, pharmacies, field marketing organizations and call centers. The Private Exchange segment offers defined-contribution benefit exchange solutions to benefit consultants, brokers, exchange operators and aggregators.
A glance at Connecture Inc (NASDAQ:CNXR)s key stats reveals a current market capitalization of 41.80 Million based on 22.32 Million shares outstanding and a price at last close of $1.91 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-09-13, Francisco picked up 6,133 at a purchase price of $1.69. This brings their total holding to 1,209,972 as of the date of the filing.
On the sell side, the most recent transaction saw Great unload 395,886 shares at a sale price of $8.00. This brings their total holding to 5,502,965.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Connecture Inc (NASDAQ:CNXR) as things move forward to see if its progress aligns with these transactions.
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