New York State Common Retirement Fund purchased a new position in shares of CommerceHub Inc (NASDAQ:CHUBA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,700 shares of the technology company’s stock, valued at approximately $256,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Pembroke Management LTD purchased a new stake in shares of CommerceHub during the 2nd quarter worth about $15,480,000. Franklin Resources Inc. purchased a new stake in shares of CommerceHub during the 2nd quarter worth about $5,803,000. Locust Wood Capital Advisers LLC purchased a new stake in shares of CommerceHub during the 2nd quarter worth about $3,752,000. Gamco Investors INC. ET AL purchased a new stake in shares of CommerceHub during the 2nd quarter worth about $2,126,000. Finally, S&CO Inc. purchased a new stake in shares of CommerceHub during the 2nd quarter worth about $2,104,000. 28.98% of the stock is currently owned by institutional investors.
A number of brokerages recently weighed in on CHUBA. Zacks Investment Research lowered shares of CommerceHub from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. DA Davidson began coverage on shares of CommerceHub in a research note on Friday, September 22nd. They issued a “buy” rating and a $27.00 price target on the stock. Dougherty & Co began coverage on shares of CommerceHub in a research note on Tuesday, October 31st. They issued a “buy” rating and a $27.00 price target on the stock. First Analysis began coverage on shares of CommerceHub in a research note on Friday, August 25th. They issued an “overweight” rating and a $25.00 price target on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $26.00 target price (up 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 four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $25.80.
CommerceHub Inc (NASDAQ CHUBA) traded down $0.02 during trading on Wednesday, reaching $21.83. 39,782 shares of the company traded hands, compared to its average volume of 88,707. CommerceHub Inc has a 12-month low of $13.74 and a 12-month high of $24.53. The firm has a market cap of $907.84 and a P/E ratio of 73.53.
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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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