Algert Global LLC raised its position in shares of Autobytel Inc. (NASDAQ:ABTL) by 44.5% during the second quarter, Holdings Channel reports. The fund owned 184,846 shares of the information services provider’s stock after buying an additional 56,920 shares during the period. Algert Global LLC’s holdings in Autobytel were worth $2,331,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in ABTL. Globeflex Capital L P acquired a new position in shares of Autobytel during the first quarter worth about $102,000. JPMorgan Chase & Co. raised its position in shares of Autobytel by 24.9% in the first quarter. JPMorgan Chase & Co. now owns 8,706 shares of the information services provider’s stock worth $109,000 after buying an additional 1,734 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new position in shares of Autobytel during the first quarter worth about $129,000. Salem Investment Counselors Inc. acquired a new position in shares of Autobytel during the first quarter worth about $130,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Autobytel during the first quarter worth about $151,000. 65.28% of the stock is currently owned by institutional investors.
Shares of Autobytel Inc. (NASDAQ:ABTL) opened at 8.21 on Monday. The firm has a market capitalization of $90.89 million, a price-to-earnings ratio of 22.87 and a beta of 0.90. Autobytel Inc. has a 52-week low of $6.63 and a 52-week high of $18.39. The company’s 50 day moving average price is $12.37 and its 200 day moving average price is $12.74.
Autobytel (NASDAQ:ABTL) last announced its quarterly earnings data on Thursday, August 3rd. The information services provider reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.07. Autobytel had a return on equity of 10.96% and a net margin of 3.15%. The company had revenue of $34.60 million during the quarter, compared to the consensus estimate of $34.30 million. During the same quarter last year, the company earned $0.24 EPS. The company’s quarterly revenue was down 4.2% on a year-over-year basis. Analysts forecast that Autobytel Inc. will post $0.78 earnings per share for the current year.
A number of brokerages have issued reports on ABTL. B. Riley reaffirmed a “buy” rating and issued a $12.00 target price on shares of Autobytel in a research report on Friday. ValuEngine lowered Autobytel from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Autobytel from a “sell” rating to a “hold” rating and set a $14.00 target price on the stock in a research report on Wednesday, May 10th. Finally, Barrington Research lowered Autobytel from an “outperform” rating to a “market perform” rating in a research report on Friday.
In other Autobytel news, SVP Wesley Ozima sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $13.31, for a total value of $33,275.00. Following the completion of the sale, the senior vice president now owns 7,557 shares in the company, valued at approximately $100,583.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John J. Skocilic, Jr. sold 4,774 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $12.66, for a total value of $60,438.84. Following the completion of the sale, the executive vice president now owns 11,083 shares of the company’s stock, valued at approximately $140,310.78. The disclosure for this sale can be found here. Insiders sold a total of 80,778 shares of company stock valued at $1,060,935 in the last quarter. Corporate insiders own 12.80% of the company’s stock.
About Autobytel
Autobytel Inc is an automotive marketing services company that assists automotive retail dealers and automotive manufacturers market and sell new and used vehicles to consumers through the programs for online lead referrals, dealer marketing products and services, and online advertising programs and mobile products.
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