ChannelAdvisor Corporation (NYSE:ECOM) Given Consensus Recommendation of “Hold” by Brokerages

ChannelAdvisor Corporation (NYSE:ECOM) has been assigned a consensus rating of “Hold” from the nine brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $18.00.

A number of equities research analysts have recently issued reports on the company. William Blair reiterated a “market perform” rating on shares of ChannelAdvisor Corporation in a research note on Thursday, May 4th. ValuEngine lowered ChannelAdvisor Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Zacks Investment Research lowered ChannelAdvisor Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Robert W. Baird reiterated a “neutral” rating on shares of ChannelAdvisor Corporation in a research note on Monday, July 3rd. Finally, TheStreet lowered ChannelAdvisor Corporation from a “c-” rating to a “d+” rating in a research note on Monday, June 5th.

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Shares of ChannelAdvisor Corporation (NYSE:ECOM) traded down 2.21% during trading on Monday, hitting $11.05. The stock had a trading volume of 66,333 shares. ChannelAdvisor Corporation has a 12-month low of $10.20 and a 12-month high of $15.91. The firm’s market cap is $290.95 million. The stock has a 50-day moving average of $11.67 and a 200 day moving average of $12.27.

In related news, insider M Scot Wingo sold 15,000 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $11.31, for a total value of $169,650.00. Following the completion of the transaction, the insider now owns 882,896 shares of the company’s stock, valued at $9,985,553.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 45,000 shares of company stock valued at $509,550 in the last three months. 11.30% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC increased its position in shares of ChannelAdvisor Corporation by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 36,234 shares of the software maker’s stock worth $520,000 after buying an additional 423 shares in the last quarter. American International Group Inc. increased its position in shares of ChannelAdvisor Corporation by 7.1% in the first quarter. American International Group Inc. now owns 14,290 shares of the software maker’s stock worth $159,000 after buying an additional 946 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of ChannelAdvisor Corporation by 6.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 96,843 shares of the software maker’s stock worth $1,080,000 after buying an additional 5,814 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of ChannelAdvisor Corporation by 79.9% in the first quarter. Acadian Asset Management LLC now owns 13,259 shares of the software maker’s stock worth $148,000 after buying an additional 5,890 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of ChannelAdvisor Corporation by 44.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,365 shares of the software maker’s stock worth $227,000 after buying an additional 6,250 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

ChannelAdvisor Corporation Company Profile

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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