ChannelAdvisor Co. (NYSE:ECOM) Short Interest Update


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ChannelAdvisor Co. (NYSE:ECOM) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 667,300 shares, an increase of 20.1% from the March 31st total of 555,600 shares. Approximately 2.3% of the company’s stock are sold short. Based on an average daily trading volume, of 297,700 shares, the short-interest ratio is presently 2.2 days.

In related news, Director Timothy Buckley sold 17,500 shares of ChannelAdvisor stock in a transaction on Thursday, February 18th. The shares were sold at an average price of $25.68, for a total value of $449,400.00. Following the completion of the sale, the director now owns 90,930 shares of the company’s stock, valued at approximately $2,335,082.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David J. Spitz sold 336,843 shares of the firm’s stock in a transaction that occurred on Thursday, February 18th. The shares were sold at an average price of $26.25, for a total value of $8,842,128.75. In the last ninety days, insiders sold 390,424 shares of company stock valued at $10,124,648. 8.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in ECOM. Barclays PLC boosted its position in shares of ChannelAdvisor by 10.0% during the 4th quarter. Barclays PLC now owns 13,937 shares of the software maker’s stock valued at $223,000 after acquiring an additional 1,262 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in ChannelAdvisor by 8.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 29,536 shares of the software maker’s stock worth $472,000 after buying an additional 2,364 shares in the last quarter. Strs Ohio lifted its stake in shares of ChannelAdvisor by 6.9% during the 3rd quarter. Strs Ohio now owns 41,600 shares of the software maker’s stock worth $601,000 after purchasing an additional 2,700 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of ChannelAdvisor in the 4th quarter worth approximately $49,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of ChannelAdvisor by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 342,130 shares of the software maker’s stock worth $5,468,000 after purchasing an additional 3,297 shares in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

ECOM stock traded down $0.50 during midday trading on Tuesday, hitting $20.41. The company’s stock had a trading volume of 279,941 shares, compared to its average volume of 303,883. The stock’s 50-day moving average price is $23.80 and its 200 day moving average price is $19.90. ChannelAdvisor has a 1 year low of $9.88 and a 1 year high of $28.94. The stock has a market cap of $606.50 million, a price-to-earnings ratio of 33.00 and a beta of 0.99.

ChannelAdvisor (NYSE:ECOM) last posted its quarterly earnings results on Wednesday, February 10th. The software maker reported $0.28 EPS for the quarter, topping the consensus estimate of $0.22 by $0.06. The firm had revenue of $40.31 million for the quarter, compared to the consensus estimate of $37.97 million. ChannelAdvisor had a net margin of 12.99% and a return on equity of 16.97%. Research analysts expect that ChannelAdvisor will post 0.57 earnings per share for the current year.

A number of research firms have recently issued reports on ECOM. Zacks Investment Research upgraded shares of ChannelAdvisor from a “sell” rating to a “hold” rating in a research note on Tuesday, April 13th. B. Riley upped their price objective on shares of ChannelAdvisor from $24.50 to $30.00 in a research report on Tuesday, February 9th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $21.54.

About ChannelAdvisor

ChannelAdvisor Corporation, together with its subsidiaries, provides software-as-a-service (SaaS) solutions in the United States and internationally. The company's SaaS is a cloud platform that helps brands and retailers to improve their online performance by expanding sales channels, connecting with consumers, optimizing their operations for peak performance, and providing actionable analytics to improve competitiveness.

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