Renaissance Technologies LLC Increases Stake in Amber Road Inc (AMBR)

Renaissance Technologies LLC grew its position in Amber Road Inc (NYSE:AMBR) by 18.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 817,400 shares of the software maker’s stock after purchasing an additional 129,820 shares during the period. Renaissance Technologies LLC owned approximately 2.99% of Amber Road worth $7,692,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AMBR. Dynamic Technology Lab Private Ltd acquired a new stake in Amber Road during the first quarter worth about $120,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Amber Road during the second quarter worth about $157,000. The Manufacturers Life Insurance Company grew its holdings in Amber Road by 59.2% during the first quarter. The Manufacturers Life Insurance Company now owns 17,872 shares of the software maker’s stock worth $160,000 after acquiring an additional 6,643 shares during the period. Citadel Advisors LLC acquired a new stake in Amber Road during the first quarter worth about $208,000. Finally, Dupont Capital Management Corp acquired a new stake in Amber Road during the second quarter worth about $378,000. 67.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of AMBR opened at $9.99 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.69. Amber Road Inc has a 12 month low of $6.14 and a 12 month high of $10.41. The company has a market capitalization of $264.75 million, a price-to-earnings ratio of -21.26 and a beta of 0.26.

Amber Road (NYSE:AMBR) last issued its quarterly earnings data on Tuesday, August 7th. The software maker reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.03. Amber Road had a negative return on equity of 38.21% and a negative net margin of 12.71%. The company had revenue of $21.06 million for the quarter, compared to analyst estimates of $20.83 million. Research analysts anticipate that Amber Road Inc will post -0.4 earnings per share for the current year.

In other Amber Road news, CEO James W. Preuninger sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $8.52, for a total value of $85,200.00. Following the sale, the chief executive officer now directly owns 1,751,057 shares of the company’s stock, valued at $14,919,005.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas E. Conway sold 3,186 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $8.71, for a total value of $27,750.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,805 shares of company stock worth $842,631. 15.10% of the stock is owned by corporate insiders.

AMBR has been the topic of several analyst reports. Stifel Nicolaus raised their target price on Amber Road from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. ValuEngine raised Amber Road from a “hold” rating to a “buy” rating in a report on Wednesday, June 20th. Finally, Zacks Investment Research raised Amber Road from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Monday, August 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $11.75.

Amber Road Company Profile

Amber Road, Inc provides cloud-based global trade management (GTM) solutions in the United States and internationally. The company's GTM solutions include modules for logistics contract and rate management; supply chain visibility and event management; international trade compliance; and global knowledge trade content database, supply chain collaboration with overseas factories and vendors, and duty management solutions to importers and exporters, nonvessel owning common carriers (resellers), and ocean carriers.

See Also: Outstanding Shares and The Effect on Share Price

Institutional Ownership by Quarter for Amber Road (NYSE:AMBR)

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