GSA Capital Partners LLP Purchases Shares of 13,294 Benefitfocus Inc (BNFT)

GSA Capital Partners LLP purchased a new stake in shares of Benefitfocus Inc (NASDAQ:BNFT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,294 shares of the software maker’s stock, valued at approximately $395,000.

Several other large investors have also bought and sold shares of the stock. Victory Capital Management Inc. acquired a new stake in Benefitfocus during the third quarter valued at approximately $47,520,000. Manning & Napier Advisors LLC increased its position in shares of Benefitfocus by 12.0% in the third quarter. Manning & Napier Advisors LLC now owns 305,893 shares of the software maker’s stock worth $12,210,000 after buying an additional 32,750 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in shares of Benefitfocus during the third quarter worth about $21,066,000. FMR LLC increased its position in shares of Benefitfocus by 423.9% in the fourth quarter. FMR LLC now owns 2,478,546 shares of the software maker’s stock worth $73,613,000 after buying an additional 2,005,415 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its position in shares of Benefitfocus by 141.1% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,438,466 shares of the software maker’s stock worth $42,722,000 after buying an additional 841,953 shares during the last quarter. Institutional investors and hedge funds own 80.97% of the company’s stock.

Institutional Ownership by Quarter for Benefitfocus (NASDAQ:BNFT)

Benefitfocus Inc (NASDAQ:BNFT) traded up 1.05% during trading on Friday, hitting $28.80. 139,521 shares of the company traded hands. The firm’s market cap is $884.56 million. Benefitfocus Inc has a 52-week low of $24.55 and a 52-week high of $44.98. The company’s 50-day moving average is $27.07 and its 200 day moving average is $30.05.

Benefitfocus (NASDAQ:BNFT) last announced its earnings results on Thursday, February 23rd. The software maker reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.03. The company had revenue of $62.60 million for the quarter, compared to analysts’ expectations of $62.96 million. During the same period in the prior year, the company earned ($0.33) earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities analysts anticipate that Benefitfocus Inc will post ($0.31) earnings per share for the current year.

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BNFT has been the topic of a number of analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Benefitfocus in a research report on Thursday, March 16th. Chardan Capital initiated coverage on shares of Benefitfocus in a research report on Friday, January 6th. They issued a “buy” rating and a $36.00 price objective on the stock. Zacks Investment Research downgraded shares of Benefitfocus from a “hold” rating to a “sell” rating in a research report on Thursday, February 23rd. Berenberg Bank initiated coverage on shares of Benefitfocus in a research report on Tuesday, February 7th. They set a “buy” rating and a $36.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Benefitfocus in a report on Friday, February 24th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Benefitfocus has a consensus rating of “Buy” and a consensus price target of $39.11.

In related news, insider James P. Restivo sold 2,193 shares of the stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $27.28, for a total value of $59,825.04. Following the completion of the sale, the insider now directly owns 51,401 shares of the company’s stock, valued at approximately $1,402,219.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 45.20% of the company’s stock.

About Benefitfocus

Benefitfocus, Inc (Benefitfocus) is a provider of cloud-based benefits management platform for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. The Company operates through two business segments: Employer, which derives its revenue from customers 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.

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