Autobytel Inc. (NASDAQ:ABTL) Downgraded to “Strong Sell” at Zacks Investment Research
Autobytel Inc. (NASDAQ:ABTL) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday.
According to Zacks, “Autobytel, Inc. is an internationally branded online automotive commerce company that provides consumers with automotive solutions throughout the lifecycle of vehicle ownership. The company owns Internet sites for new and pre-owned vehicle information and automotive services that link buyers and sellers in an information-rich environment. Through the company’s Web sites consumers can research pricing, specifications and other information regarding new and pre-owned vehicles and purchase, finance, lease, insure, sell or maintain their vehicles. “
Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Autobytel from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Barrington Research cut Autobytel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 4th. Finally, B. Riley reiterated a “buy” rating and issued a $12.00 price objective on shares of Autobytel in a research note on Wednesday, August 9th.
Shares of Autobytel (NASDAQ:ABTL) traded down 4.64% during trading on Monday, hitting $8.01. 177,906 shares of the company traded hands. The stock has a market capitalization of $103.07 million, a PE ratio of 24.20 and a beta of 0.90. Autobytel has a 52-week low of $6.63 and a 52-week high of $18.39. The company has a 50-day moving average of $11.35 and a 200-day moving average of $12.46.
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 the consensus estimate of $0.12 by $0.07. The firm had revenue of $34.60 million during the quarter, compared to analysts’ expectations of $34.30 million. Autobytel had a return on equity of 10.96% and a net margin of 3.15%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 earnings per share. Equities analysts expect that Autobytel will post $0.78 EPS for the current year.
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In other news, EVP William Ferriolo sold 13,488 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $13.72, for a total transaction of $185,055.36. Following the completion of the sale, the executive vice president now owns 164,253 shares in the company, valued at $2,253,551.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Glenn Evan Fuller sold 13,907 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $13.75, for a total value of $191,221.25. Following the sale, the chief accounting officer now owns 20,607 shares of the company’s stock, valued at approximately $283,346.25. The disclosure for this sale can be found here. Insiders have sold 80,778 shares of company stock valued at $1,060,935 in the last 90 days. Company insiders own 12.80% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Autobytel by 4.6% in the fourth quarter. State Street Corp now owns 124,677 shares of the information services provider’s stock valued at $1,672,000 after buying an additional 5,462 shares during the period. Dimensional Fund Advisors LP boosted its stake in Autobytel by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 278,195 shares of the information services provider’s stock valued at $3,742,000 after buying an additional 11,775 shares during the period. Renaissance Technologies LLC boosted its stake in Autobytel by 68.2% in the fourth quarter. Renaissance Technologies LLC now owns 55,500 shares of the information services provider’s stock valued at $746,000 after buying an additional 22,500 shares during the period. Highbridge Capital Management LLC bought a new stake in Autobytel during the fourth quarter valued at approximately $261,000. Finally, Rice Hall James & Associates LLC boosted its stake in Autobytel by 0.6% in the first quarter. Rice Hall James & Associates LLC now owns 165,306 shares of the information services provider’s stock valued at $2,071,000 after buying an additional 1,016 shares during the period. Institutional investors and hedge funds own 56.59% of the company’s stock.
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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