Emerald Mutual Fund Advisers Trust increased its position in ChannelAdvisor Corp. (NYSE:ECOM) by 3.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 560,020 shares of the company’s stock after buying an additional 19,586 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in ChannelAdvisor Corp. were worth $8,115,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of ECOM. State Street Corp raised its stake in shares of ChannelAdvisor Corp. by 4.7% in the first quarter. State Street Corp now owns 318,422 shares of the company’s stock worth $3,582,000 after buying an additional 14,436 shares in the last quarter. Mizuho Securities USA Inc. bought a new stake in shares of ChannelAdvisor Corp. during the second quarter worth approximately $145,000. A.R.T. Advisors LLC raised its stake in shares of ChannelAdvisor Corp. by 12.5% in the first quarter. A.R.T. Advisors LLC now owns 68,209 shares of the company’s stock worth $767,000 after buying an additional 7,600 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of ChannelAdvisor Corp. by 1.1% in the first quarter. Geode Capital Management LLC now owns 151,321 shares of the company’s stock worth $1,702,000 after buying an additional 1,591 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of ChannelAdvisor Corp. by 2.8% in the first quarter. Royal Bank of Canada now owns 12,054 shares of the company’s stock worth $136,000 after buying an additional 328 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.
ChannelAdvisor Corp. (NYSE:ECOM) traded down 0.55% during trading on Thursday, hitting $12.61. The stock had a trading volume of 48,491 shares. ChannelAdvisor Corp. has a 1-year low of $8.71 and a 1-year high of $15.91. The stock’s 50-day moving average price is $12.38 and its 200-day moving average price is $13.04. The company’s market capitalization is $324.03 million.
ChannelAdvisor Corp. (NYSE:ECOM) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.11) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.03. ChannelAdvisor Corp. had a negative net margin of 15.63% and a negative return on equity of 19.19%. The business earned $27.10 million during the quarter, compared to analyst estimates of $26.99 million. During the same period last year, the business posted ($0.10) earnings per share. ChannelAdvisor Corp.’s quarterly revenue was up 12.0% compared to the same quarter last year. Analysts expect that ChannelAdvisor Corp. will post ($0.25) earnings per share for the current year.
ECOM has been the subject of a number of recent research reports. Pacific Crest reissued a “hold” rating on shares of ChannelAdvisor Corp. in a report on Friday, August 5th. Zacks Investment Research raised ChannelAdvisor Corp. from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Thursday, August 11th. Finally, Needham & Company LLC initiated coverage on ChannelAdvisor Corp. in a report on Friday, September 23rd. They set a “buy” rating and a $16.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.50.
In other ChannelAdvisor Corp. news, CFO Mark Cook bought 10,000 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was purchased at an average cost of $12.26 per share, for a total transaction of $122,600.00. Following the completion of the acquisition, the chief financial officer now owns 100,529 shares of the company’s stock, valued at $1,232,485.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider M Scot Wingo sold 60,000 shares of ChannelAdvisor Corp. stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $12.19, for a total transaction of $731,400.00. Following the transaction, the insider now owns 1,030,505 shares of the company’s stock, valued at $12,561,855.95. The disclosure for this sale can be found here. 11.60% of the stock is currently owned by company insiders.
About ChannelAdvisor Corp.
ChannelAdvisor Corporation is a provider of software as a service (SaaS) solutions. The Company’s SaaS solutions enable its retailer and manufacturer customers to integrate and manage their merchandise sales across various online channels. Through its platform, the Company enables its customers to connect with various sources of demand for their products, including e-commerce marketplaces, such as Amazon, eBay, Jet.com, Newegg and Sears, search engines and comparison shopping Websites, such as Google, Microsoft’s Bing and Nextag, and other channels, such as Facebook and Pinterest.
Want to see what other hedge funds are holding ECOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ChannelAdvisor Corp. (NYSE:ECOM).
Receive News & Ratings for ChannelAdvisor Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChannelAdvisor Corp. and related companies with MarketBeat.com's FREE daily email newsletter.