Rhumbline Advisers acquired a new stake in shares of CommerceHub, Inc. (NASDAQ:CHUBA) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 16,871 shares of the technology company’s stock, valued at approximately $294,000.
Several other hedge funds have also modified their holdings of CHUBA. First Quadrant L P CA bought a new stake in shares of CommerceHub during the 2nd quarter valued at $154,000. Trexquant Investment LP bought a new stake in shares of CommerceHub during the 2nd quarter valued at $207,000. Sei Investments Co. bought a new stake in shares of CommerceHub during the 2nd quarter valued at $808,000. Schwab Charles Investment Management Inc. bought a new stake in shares of CommerceHub during the 2nd quarter valued at $912,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of CommerceHub during the 2nd quarter valued at $949,000. 25.64% of the stock is owned by hedge funds and other institutional investors.
CommerceHub, Inc. (NASDAQ:CHUBA) opened at 22.99 on Wednesday. The stock has a market cap of $994.29 million and a PE ratio of 93.08. The company’s 50 day moving average is $22.97 and its 200-day moving average is $22.97. CommerceHub, Inc. has a 1-year low of $13.25 and a 1-year high of $24.53.
CommerceHub (NASDAQ:CHUBA) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). The firm had revenue of $25.21 million for the quarter, compared to analyst estimates of $25.76 million. CommerceHub had a net margin of 10.81% and a return on equity of 36.84%. Equities research analysts forecast that CommerceHub, Inc. will post $0.48 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on CHUBA shares. First Analysis started coverage on shares of CommerceHub in a research report on Friday, August 25th. They set an “overweight” rating and a $25.00 price objective for the company. Zacks Investment Research cut shares of CommerceHub from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. DA Davidson started coverage on shares of CommerceHub in a research note on Friday, September 22nd. They set a “buy” rating and a $27.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and set a $26.00 target price (up previously from $22.00) on shares of CommerceHub in a research note on Monday, October 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. CommerceHub presently has an average rating of “Buy” and an average price target of $25.00.
CommerceHub Company Profile
CommerceHub, Inc is a provider of cloud-based e-commerce fulfillment and marketing solutions that integrate supply, demand and delivery for retailers and consumer brands, manufacturers and distributors. The Company’s end-to-end solutions are provided through the CommerceHub software platform, a hub that streamlines integration and enables transactions among its retailer and supplier customers and their other trading partners, while also enabling them to access the online marketplaces, search engines, social and product advertising and other digital marketing channels where consumers browse and buy.
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