Los Angeles Capital Management & Equity Research Inc. Boosts Holdings in ChannelAdvisor Corp (ECOM)
Los Angeles Capital Management & Equity Research Inc. raised its position in ChannelAdvisor Corp (NYSE:ECOM) by 102.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,275 shares of the software maker’s stock after purchasing an additional 20,880 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.16% of ChannelAdvisor worth $475,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of ECOM. Prudential Financial Inc. bought a new position in ChannelAdvisor in the third quarter valued at about $118,000. Citigroup Inc. increased its stake in shares of ChannelAdvisor by 166.6% in the second quarter. Citigroup Inc. now owns 10,818 shares of the software maker’s stock valued at $125,000 after buying an additional 6,760 shares during the period. Voya Investment Management LLC acquired a new stake in shares of ChannelAdvisor in the second quarter valued at about $136,000. Cubist Systematic Strategies LLC acquired a new stake in shares of ChannelAdvisor in the second quarter valued at about $138,000. Finally, American International Group Inc. increased its stake in shares of ChannelAdvisor by 7.1% in the first quarter. American International Group Inc. now owns 14,290 shares of the software maker’s stock valued at $159,000 after buying an additional 946 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.
In other ChannelAdvisor news, Director Joseph L. Cowan bought 3,130 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was acquired at an average price of $8.58 per share, with a total value of $26,855.40. Following the completion of the purchase, the director now directly owns 22,803 shares of the company’s stock, valued at approximately $195,649.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph L. Cowan bought 16,870 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were acquired at an average cost of $8.48 per share, with a total value of $143,057.60. The disclosure for this purchase can be found here. Insiders have purchased 30,000 shares of company stock valued at $257,913 in the last ninety days. 11.30% of the stock is currently owned by insiders.
Several equities research analysts have recently weighed in on the company. BidaskClub raised ChannelAdvisor from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. DA Davidson assumed coverage on ChannelAdvisor in a research note on Friday, September 22nd. They issued a “neutral” rating and a $12.50 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of ChannelAdvisor in a research note on Sunday, September 17th. KeyCorp reissued a “hold” rating on shares of ChannelAdvisor in a research note on Friday, August 25th. Finally, First Analysis raised ChannelAdvisor from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a research note on Thursday, August 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. ChannelAdvisor has a consensus rating of “Hold” and a consensus target price of $14.13.
Shares of ChannelAdvisor Corp (ECOM) opened at $8.70 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. ChannelAdvisor Corp has a one year low of $8.30 and a one year high of $15.85.
ChannelAdvisor (NYSE:ECOM) last released its earnings results on Thursday, November 2nd. The software maker reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.02. ChannelAdvisor had a negative return on equity of 9.48% and a negative net margin of 8.54%. The business had revenue of $30.10 million during the quarter, compared to analysts’ expectations of $30.08 million. During the same quarter last year, the firm posted ($0.12) earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. research analysts predict that ChannelAdvisor Corp will post -0.58 EPS for the current fiscal year.
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Channeladvisor Corporation is a provider of Software as a service (SaaS) solutions. The Company’s SaaS solutions enable retailer and branded manufacturer customers to integrate, manage and optimize their merchandise sales via hundreds of online channels. The Company’s platform enable its customers to connect with new and existing sources of demand for their products, including e-commerce marketplaces, such as Amazon, eBay, Jet.com, Newegg, Sears and Walmart, search engines and comparison shopping Websites, such as Google, Microsoft’s Bing and Nextag, and social channels, such as Facebook, Instagram and Pinterest.
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