Today’s Shorts Alert: What’s Ahead for Benefitfocus Incorporated (NASDAQ:BNFT) After More Shorted Shares?

November 28, 2016 - By Darrin Black   ·   0 Comments

Today's Shorts Alert: What’s Ahead for Benefitfocus Incorporated (NASDAQ:BNFT) After More Shorted Shares?

The stock of Benefitfocus Incorporated (NASDAQ:BNFT) registered an increase of 3.82% in short interest. BNFT’s total short interest was 3.02 million shares in November as published by FINRA. Its up 3.82% from 2.91M shares, reported previously. With 177,200 shares average volume, it will take short sellers 17 days to cover their BNFT’s short positions. The short interest to Benefitfocus Incorporated’s float is 13.67%. The stock closed at $28.15 during the last session. It is down 25.73% since April 25, 2016 and is downtrending. It has underperformed by 31.74% the S&P500.

Benefitfocus, Inc. provides cloud benefits software solutions for consumers, employers, insurance carriers and brokers. The company has a market cap of $837.49 million. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. It currently has negative earnings. It operates through two business divisions: Employer, which derives its revenue from clients that use the Company’s services for the provision of benefits to their employees, and administrators acting on behalf of employers, Carrier, which derives its revenue from insurance companies that provide coverage at their own risk.

Insitutional Activity: The institutional sentiment increased to 1.62 in Q2 2016. Its up 0.31, from 1.31 in 2016Q1. The ratio increased, as 10 funds sold all Benefitfocus Inc shares owned while 25 reduced positions. 12 funds bought stakes while 34 increased positions. They now own 21.22 million shares or 0.26% less from 21.28 million shares in 2016Q1.
Timpani Capital Management Ltd Company accumulated 0.63% or 39,092 shares. Westpac Banking accumulated 0% or 12,186 shares. Federated Investors Pa has 1,482 shares for 0% of their US portfolio. Pnc Financial Serv Group last reported 0% of its portfolio in the stock. Cubist Systematic Strategies Ltd holds 0% or 800 shares in its portfolio. Bnp Paribas Arbitrage Sa has invested 0% of its portfolio in Benefitfocus Inc (NASDAQ:BNFT). Swiss Bancorporation holds 22,000 shares or 0% of its portfolio. Gagnon Ltd Llc has invested 0.44% of its portfolio in Benefitfocus Inc (NASDAQ:BNFT). Teacher Retirement Of Texas holds 0% of its portfolio in Benefitfocus Inc (NASDAQ:BNFT) for 1,848 shares. Prescott Grp Cap Management Ltd Llc last reported 34,550 shares in the company. Macquarie Group has invested 0% of its portfolio in Benefitfocus Inc (NASDAQ:BNFT). Artisan Ptnrs Partnership has invested 0.09% of its portfolio in Benefitfocus Inc (NASDAQ:BNFT). Bamco Ny owns 4.31 million shares or 0.87% of their US portfolio. Sei Investments, a Pennsylvania-based fund reported 8,126 shares. Legal And General Grp Pcl owns 1,940 shares or 0% of their US portfolio.

Insider Transactions: Since August 11, 2016, the stock had 1 buying transaction, and 5 sales for $11.59 million net activity. Jenkins Shawn A also sold $2.34 million worth of Benefitfocus Inc (NASDAQ:BNFT) shares. 16,408 shares were sold by August Raymond Alexander, worth $650,741. On Monday, November 7 the insider Swad Stephen M bought $79,290. Holland Mason R Jr sold 145,915 shares worth $6.16 million.

Benefitfocus Inc (NASDAQ:BNFT) Ratings Coverage

Out of 8 analysts covering Benefitfocus (NASDAQ:BNFT), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. Benefitfocus has been the topic of 12 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The rating was maintained by Jefferies on Friday, August 12 with “Buy”. Jefferies maintained it with “Buy” rating and $45 target price in Thursday, August 4 report. Zacks upgraded the stock to “Buy” rating in Thursday, September 3 report. RBC Capital Markets maintained Benefitfocus Inc (NASDAQ:BNFT) rating on Wednesday, October 21. RBC Capital Markets has “Sector Perform” rating and $39 price target. The rating was maintained by Canaccord Genuity on Tuesday, August 4 with “Buy”. As per Friday, November 4, the company rating was downgraded by Raymond James. The rating was downgraded by William Blair on Friday, May 6 to “Market Perform”. The stock of Benefitfocus Inc (NASDAQ:BNFT) earned “Buy” rating by Canaccord Genuity on Thursday, March 10. Goldman Sachs initiated Benefitfocus Inc (NASDAQ:BNFT) rating on Monday, May 23. Goldman Sachs has “Neutral” rating and $38 price target. On Wednesday, February 24 the stock rating was maintained by Jefferies with “Buy”.

BNFT Company Profile

Benefitfocus, Inc. (Benefitfocus), incorporated on March 12, 2013, is a well-known provider of cloud benefits software solutions for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. The Firm operates through two business divisions: Employer, which derives its revenue from clients that use the Company’s services for the provision of benefits to their employees, and administrators acting on behalf of employers, Carrier, which derives its revenue from insurance companies that provide coverage at their own risk. The Company’s solutions support benefits plans, including healthcare, dental, life and disability insurance, and voluntary benefits plans, such as critical illness, supplemental income and wellness programs. It provides a multi-tenant cloud benefits management platform to the employer and carrier markets.

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By Darrin Black


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