Insider Buying: Servicesource International Inc (NASDAQ:SREV) Major Shareholder Purchases 50,000 Shares of Stock

Servicesource International Inc (NASDAQ:SREV) major shareholder Edenbrook Capital, Llc acquired 50,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were acquired at an average price of $0.75 per share, for a total transaction of $37,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Edenbrook Capital, Llc also recently made the following trade(s):

  • On Friday, March 20th, Edenbrook Capital, Llc acquired 10,827 shares of Servicesource International stock. The shares were acquired at an average price of $0.78 per share, for a total transaction of $8,445.06.

Shares of SREV traded up $0.01 during mid-day trading on Tuesday, hitting $0.77. The stock had a trading volume of 432,179 shares, compared to its average volume of 308,540. The company has a market cap of $64.85 million, a PE ratio of -3.86 and a beta of 1.59. The company’s fifty day simple moving average is $1.43 and its two-hundred day simple moving average is $1.37. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.38. Servicesource International Inc has a fifty-two week low of $0.53 and a fifty-two week high of $2.10.

Several research firms have issued reports on SREV. ValuEngine upgraded Servicesource International from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 17th. Zacks Investment Research downgraded Servicesource International from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, B. Riley lifted their price objective on Servicesource International from $2.00 to $2.25 and gave the stock a “buy” rating in a report on Friday, February 21st.

Several institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC grew its position in shares of Servicesource International by 2.4% in the 4th quarter. Renaissance Technologies LLC now owns 4,128,661 shares of the technology company’s stock worth $6,895,000 after acquiring an additional 94,946 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Servicesource International in the 4th quarter worth approximately $1,381,000. EAM Investors LLC acquired a new position in shares of Servicesource International in the 4th quarter worth approximately $1,048,000. Geode Capital Management LLC grew its position in shares of Servicesource International by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 523,879 shares of the technology company’s stock worth $874,000 after acquiring an additional 14,826 shares in the last quarter. Finally, King Luther Capital Management Corp grew its position in shares of Servicesource International by 33.3% in the 4th quarter. King Luther Capital Management Corp now owns 400,000 shares of the technology company’s stock worth $668,000 after acquiring an additional 100,000 shares in the last quarter. Institutional investors own 66.16% of the company’s stock.

Servicesource International Company Profile

ServiceSource International, Inc operates as a digital customer journey experience company. Its solutions include lead generation, inside sales, outsourced sales operations, customer onboarding, customer success management, cross-sell and upsell, warranty conversion, account-based marketing, and channel recruitment and enablement, as well as renewals management services, such as the sale of maintenance and support service contracts for the products used by its clients' end-users.

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