A Reversal for Benefitfocus Incorporated (NASDAQ:BNFT) Is Not Near. The Stock Has Rise in Shorts

June 19, 2017 - By Michael Collier

 A Reversal for Benefitfocus Incorporated (NASDAQ:BNFT) Is Not Near. The Stock Has Rise in Shorts

Investors sentiment decreased to 1.02 in 2016 Q4. Its down 0.60, from 1.62 in 2016Q3. It turned negative, as 21 investors sold Benefitfocus Inc shares while 26 reduced holdings. 18 funds opened positions while 30 raised stakes. 23.05 million shares or 1.33% more from 22.74 million shares in 2016Q3 were reported.
Bnp Paribas Arbitrage reported 496 shares. Gmt Capital Corporation reported 0.09% of its portfolio in Benefitfocus Inc (NASDAQ:BNFT). New York-based Highbridge Capital Limited Company has invested 0.01% in Benefitfocus Inc (NASDAQ:BNFT). 9,576 are held by Manufacturers Life Insurance The. Alliancebernstein Ltd Partnership reported 19,100 shares. Prescott Gru Limited Liability Company reported 46,550 shares. Citigroup Incorporated has invested 0% in Benefitfocus Inc (NASDAQ:BNFT). Moreover, Geneva Advisors Ltd Liability Co has 0.01% invested in Benefitfocus Inc (NASDAQ:BNFT) for 16,544 shares. Landscape Mgmt holds 11,540 shares or 0.05% of its portfolio. Nationwide Fund Advsr has invested 0% of its portfolio in Benefitfocus Inc (NASDAQ:BNFT). Pacad Invest Ltd stated it has 4,800 shares or 0.02% of all its holdings. Raymond James & Associates holds 0.01% or 141,072 shares in its portfolio. Moreover, Gofen Glossberg Il has 0.02% invested in Benefitfocus Inc (NASDAQ:BNFT) for 17,700 shares. Blackrock Institutional Trust Com Na owns 534,543 shares for 0% of their portfolio. Blackrock Inc has 0% invested in Benefitfocus Inc (NASDAQ:BNFT).

Since May 15, 2017, it had 0 insider buys, and 1 sale for $266,475 activity.

The stock of Benefitfocus Incorporated (NASDAQ:BNFT) registered an increase of 11.87% in short interest. BNFT’s total short interest was 4.75M shares in June as published by FINRA. Its up 11.87% from 4.25 million shares, reported previously. With 330,200 shares average volume, it will take short sellers 14 days to cover their BNFT’s short positions. The short interest to Benefitfocus Incorporated’s float is 21.1%.

It closed at $36.25 lastly. It is down 9.60% since June 19, 2016 and is downtrending. It has underperformed by 26.30% the S&P500.

Benefitfocus, Inc. is a well-known provider of cloud benefits management platform for consumers, employers, insurance carriers and brokers. The company has market cap of $1.13 billion. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. It currently has negative earnings. 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.

Benefitfocus Inc (NASDAQ:BNFT) Ratings Coverage

Among 10 analysts covering Benefitfocus (NASDAQ:BNFT), 8 have Buy rating, 0 Sell and 2 Hold. Therefore 80% are positive. Benefitfocus had 16 analyst reports since July 28, 2015 according to SRatingsIntel. The stock of Benefitfocus Inc (NASDAQ:BNFT) has “Sector Perform” rating given on Tuesday, July 28 by RBC Capital Markets. Raymond James downgraded Benefitfocus Inc (NASDAQ:BNFT) on Friday, November 4 to “Outperform” rating. As per Wednesday, October 21, the company rating was maintained by RBC Capital Markets. The stock of Benefitfocus Inc (NASDAQ:BNFT) earned “Buy” rating by Canaccord Genuity on Tuesday, August 4. Berenberg initiated the stock with “Buy” rating in Tuesday, February 7 report. The stock has “Buy” rating by Jefferies on Wednesday, February 24. Chardan Capital Markets initiated Benefitfocus Inc (NASDAQ:BNFT) on Friday, January 6 with “Buy” rating. The stock of Benefitfocus Inc (NASDAQ:BNFT) earned “Outperform” rating by William Blair on Thursday, June 1. The rating was maintained by Canaccord Genuity with “Buy” on Thursday, March 10. As per Thursday, September 3, the company rating was upgraded by Zacks.

More notable recent Benefitfocus Inc (NASDAQ:BNFT) news were published by: Seekingalpha.com which released: “Benefits In Focus: >50% Downside For Benefitfocus Shareholders” on October 19, 2016, also Globenewswire.com with their article: “Benefitfocus Announces Fourth Quarter and Full Year 2016 Financial Results” published on February 23, 2017, Seekingalpha.com published: “Benefitfocus: Does The Focus On Benefits For Users Extend To Benefits For …” on October 10, 2016. More interesting news about Benefitfocus Inc (NASDAQ:BNFT) were released by: Postandcourier.com and their article: “Finance chief at Charleston’s Benefitfocus leaving, setting off another search” published on February 24, 2017 as well as Prnewswire.com‘s news article titled: “Benefitfocus Outlines 10-Year Vision to Accelerate the Digital Transformation …” with publication date: March 14, 2017.

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