Geode Capital Management LLC raised its stake in Autobytel Inc. (NASDAQ:ABTL) by 20.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,347 shares of the information services provider’s stock after purchasing an additional 12,835 shares during the quarter. Geode Capital Management LLC’s holdings in Autobytel were worth $943,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Signia Capital Management LLC lifted its position in shares of Autobytel by 62.6% in the first quarter. Signia Capital Management LLC now owns 361,899 shares of the information services provider’s stock valued at $4,535,000 after buying an additional 139,340 shares during the last quarter. Foresters Investment Management Company Inc. lifted its position in shares of Autobytel by 1.7% in the first quarter. Foresters Investment Management Company Inc. now owns 221,200 shares of the information services provider’s stock valued at $2,772,000 after buying an additional 3,700 shares during the last quarter. Oxford Asset Management lifted its position in shares of Autobytel by 51.4% in the first quarter. Oxford Asset Management now owns 148,194 shares of the information services provider’s stock valued at $1,857,000 after buying an additional 50,333 shares during the last quarter. Cornerstone Capital Management Holdings LLC. lifted its position in shares of Autobytel by 42.3% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 74,570 shares of the information services provider’s stock valued at $934,000 after buying an additional 22,170 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in Autobytel during the 1st quarter worth approximately $931,000. 58.59% of the stock is owned by institutional investors.
Several analysts recently weighed in on the company. ValuEngine cut Autobytel from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research cut Autobytel from a “buy” rating to a “hold” rating in a report on Monday, July 10th. B. Riley reissued a “buy” rating and set a $12.00 price target on shares of Autobytel in a report on Friday, August 4th. Finally, Barrington Research cut Autobytel from an “outperform” rating to a “market perform” rating in a report on Friday, August 4th.
Autobytel Inc. (NASDAQ ABTL) opened at 7.70 on Friday. The firm’s 50-day moving average price is $8.13 and its 200-day moving average price is $11.48. Autobytel Inc. has a 1-year low of $6.63 and a 1-year high of $18.32. The company has a market cap of $99.08 million, a price-to-earnings ratio of 23.26 and a beta of 0.99.
Autobytel (NASDAQ:ABTL) last issued its quarterly earnings data on Thursday, August 3rd. The information services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.07. Autobytel had a net margin of 3.15% and a return on equity of 10.96%. The firm had revenue of $34.60 million during the quarter, compared to the consensus estimate of $34.30 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities research analysts forecast that Autobytel Inc. will post $0.78 EPS for the current fiscal year.
Autobytel declared that its board has authorized a share repurchase plan on Wednesday, September 6th that permits the company to buyback $3.00 million in outstanding shares. This buyback authorization permits the information services provider to buy up to 34% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
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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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