What Hedge Funds Think about ChannelAdvisor Corp (ECOM)?

As one would reasonably expect, some big names have jumped into ChannelAdvisor Corp (NYSE:ECOM) headfirst. Highbridge Capital Management, led by Glenn Russell Dubin, initiated the largest position in ChannelAdvisor Corp (NYSE:ECOM). Highbridge Capital Management had $0.2 million invested in the company at the end of the quarter. Philip Hempleman’s Ardsley Partners also made a $0.2 million investment in the stock during the quarter.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as ChannelAdvisor Corp (NYSE:ECOM) but similarly valued. We will take a look at Pacific Continental Corporation (NASDAQ:PCBK), Aratana Therapeutics Inc (NASDAQ:PETX), United Community Financial Corp (NASDAQ:UCFC), and Kadmon Holdings Inc (NYSE:KDMN). This group of stocks’ market values are closest to ECOM’s market value.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $50 million. That figure was $14 million in ECOM’s case. Aratana Therapeutics Inc (NASDAQ:PETX) is the most popular stock in this table. On the other hand Pacific Continental Corporation (NASDAQ:PCBK) is the least popular one with only five bullish hedge fund positions. ChannelAdvisor Corp (NYSE:ECOM) is not the least popular stock in this group and hedge fund is in-line with the average value. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard PETX might be a better candidate to consider taking a long position in.

Disclosure: None