Quiet period ends for Connecture stock IPO

The 25-day quiet period on underwriter analyses that began with the Dec. 12 initial public offering of stock for Brookfield-based Connecture Inc. ended Tuesday.

Connecture’s IPO underwriters, including J.P. Morgan, Morgan Stanley, Raymond James, Wells Fargo, and William Blair & Co., will likely release reports today about the stock, which was trading Tuesday at $9.90 per share with the ticker symbol of CNXR on the NASDAQ Exchange.

Connecture is a provider of web-based software that facilitates shopping for health insurance plans.

Connecture’s share prices will likely see a temporary increase as a result of the release of underwriter reports as recent and historical research show above-market returns in the days surrounding a firm’s quiet period expiration, and the firm has seen gradual success in early trading, according to analysts.

Connecture’s IPO was priced at $8, significantly lower than the expected price range of $12 to $14.

As a provider of software targeted to improve the online shopping experience for health insurance, Connecture hopes to take advantage of the major changes in the industry due to the Affordable Care Act. The marketplace is shifting the buying of health insurance from employers to individuals, giving more people access to health insurance, and creating public exchanges to present multiple options to consumers in real time.

Connecture has approximately 430 employees and has more than 70 health plans as customers. Its software is used in over 30 private, state and federal healthcare exchanges, as well as Medicare.

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