Will Benefitfocus Incorporated (NASDAQ:BNFT) Run Out of Steam Soon? Short Interest is Up

September 17, 2017 - By Henry Gaston

 Will Benefitfocus Incorporated (NASDAQ:BNFT) Run Out of Steam Soon? Short Interest is Up

Investors sentiment decreased to 1.02 in Q4 2016. Its down 0.60, from 1.62 in 2016Q3. It is 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.
The New York-based Bancorp Of Ny Mellon Corp has invested 0% in Benefitfocus Inc (NASDAQ:BNFT). Rhumbline Advisers stated it has 0% in Benefitfocus Inc (NASDAQ:BNFT). Trexquant Lp stated it has 0.08% in Benefitfocus Inc (NASDAQ:BNFT). Everpoint Asset Management Ltd Liability Com holds 245,000 shares or 0.14% of its portfolio. Price T Rowe Associate Md stated it has 0% of its portfolio in Benefitfocus Inc (NASDAQ:BNFT). Landscape Cap Mgmt Limited Liability Co reported 11,540 shares stake. Whale Rock Capital Limited Liability Corp accumulated 2.36% or 983,140 shares. Blackrock Fund Advsrs stated it has 381,366 shares or 0% of all its holdings. Westpac Banking Corporation accumulated 11,747 shares or 0% of the stock. Blackrock Inc invested in 1,556 shares or 0% of the stock. Moreover, California State Teachers Retirement has 0% invested in Benefitfocus Inc (NASDAQ:BNFT) for 26,598 shares. Tiaa Cref Invest Management Limited Liability Corp reported 36,353 shares. Wellington Mngmt Gru Llp accumulated 0% or 525,048 shares. Barclays Public Lc reported 4,441 shares. Jpmorgan Chase & invested in 651,957 shares.

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

The stock of Benefitfocus Incorporated (NASDAQ:BNFT) registered an increase of 0.22% in short interest. BNFT’s total short interest was 4.28M shares in September as published by FINRA. Its up 0.22% from 4.27M shares, reported previously. With 143,300 shares average volume, it will take short sellers 30 days to cover their BNFT’s short positions. The short interest to Benefitfocus Incorporated’s float is 19%.

The stock decreased 1.82% or $0.6 on September 15, reaching $32.35. About 453,933 shares traded or 146.39% up from the average. Benefitfocus Inc (NASDAQ:BNFT) has declined 9.60% since September 17, 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 $1.01 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 11 analysts covering Benefitfocus (NASDAQ:BNFT), 8 have Buy rating, 0 Sell and 3 Hold. Therefore 73% are positive. Benefitfocus had 25 analyst reports since July 28, 2015 according to SRatingsIntel. Piper Jaffray maintained the stock with “Buy” rating in Monday, September 11 report. The stock has “Neutral” rating by Chardan Capital Markets on Friday, August 4. The firm earned “Buy” rating on Sunday, July 30 by Canaccord Genuity. As per Thursday, September 3, the company rating was upgraded by Zacks. The stock of Benefitfocus Inc (NASDAQ:BNFT) has “Buy” rating given on Friday, August 4 by Piper Jaffray. The company was initiated on Tuesday, February 7 by Berenberg. Deutsche Bank maintained Benefitfocus Inc (NASDAQ:BNFT) rating on Thursday, August 4. Deutsche Bank has “Buy” rating and $65 target. The firm has “Buy” rating by Jefferies given on Friday, August 18. The firm has “Buy” rating by Jefferies given on Thursday, August 4. On Wednesday, February 24 the stock rating was maintained by Jefferies with “Buy”.

More notable recent Benefitfocus Inc (NASDAQ:BNFT) news were published by: Prnewswire.com which released: “Benefitfocus Unveils Program to Help Brokers and the Employers They Serve …” on August 10, 2017, also Postandcourier.com with their article: “Finance chief at Charleston’s Benefitfocus leaving, setting off another search” published on February 24, 2017, Prnewswire.com published: “Benefitfocus Announces New Additions to Executive Leadership Team” on July 17, 2017. More interesting news about Benefitfocus Inc (NASDAQ:BNFT) were released by: Seekingalpha.com and their article: “Benefits In Focus: >50% Downside For Benefitfocus Shareholders” published on October 19, 2016 as well as Seekingalpha.com‘s news article titled: “Benefitfocus’ (BNFT) CEO Shawn Jenkins on Q2 2017 Results – Earnings Call …” with publication date: August 05, 2017.

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