241,777 Shares in Autobytel Inc. (ABTL) Purchased by Ajo LP
Ajo LP purchased a new position in shares of Autobytel Inc. (NASDAQ:ABTL) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 241,777 shares of the information services provider’s stock, valued at approximately $3,049,000. Ajo LP owned about 2.18% of Autobytel at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Signia Capital Management LLC grew its position in Autobytel by 4.3% during the 2nd quarter. Signia Capital Management LLC now owns 377,383 shares of the information services provider’s stock worth $4,759,000 after acquiring an additional 15,484 shares during the last quarter. Adirondack Research & Management Inc. boosted its position in Autobytel by 7.9% in the 2nd quarter. Adirondack Research & Management Inc. now owns 283,575 shares of the information services provider’s stock valued at $3,576,000 after buying an additional 20,712 shares during the last quarter. Balter Liquid Alternatives LLC bought a new position in Autobytel in the 2nd quarter valued at $300,000. Stanley Laman Group Ltd. boosted its position in Autobytel by 14.5% in the 2nd quarter. Stanley Laman Group Ltd. now owns 24,199 shares of the information services provider’s stock valued at $305,000 after buying an additional 3,073 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its position in Autobytel by 114,134.1% in the 2nd quarter. Federated Investors Inc. PA now owns 46,836 shares of the information services provider’s stock valued at $591,000 after buying an additional 46,795 shares during the last quarter. Institutional investors and hedge funds own 58.59% of the company’s stock.
A number of brokerages have commented on ABTL. B. Riley reiterated a “buy” rating and issued a $12.00 price objective on shares of Autobytel in a research report on Wednesday, August 9th. Zacks Investment Research lowered Autobytel from a “hold” rating to a “strong sell” rating in a research report on Monday, August 14th. ValuEngine lowered Autobytel from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Barrington Research lowered Autobytel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 4th.
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Autobytel Inc. (NASDAQ ABTL) opened at 7.67 on Monday. The company has a market capitalization of $98.70 million, a price-to-earnings ratio of 23.17 and a beta of 0.99. The firm has a 50-day moving average price of $8.34 and a 200-day moving average price of $11.57. Autobytel Inc. has a 12 month low of $6.63 and a 12 month high of $18.32.
Autobytel (NASDAQ:ABTL) last posted its earnings results on Thursday, August 3rd. The information services provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.07. The firm had revenue of $34.60 million for the quarter, compared to analysts’ expectations of $34.30 million. Autobytel had a net margin of 3.15% and a return on equity of 10.96%. The company’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 earnings per share. On average, equities analysts anticipate that Autobytel Inc. will post $0.78 earnings per share for the current fiscal year.
Autobytel announced that its Board of Directors has authorized a stock repurchase program on Wednesday, September 6th that allows the company to repurchase $3.00 million in outstanding shares. This repurchase authorization allows the information services provider to reacquire up to 34% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
Autobytel Company Profile
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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