Emancipation Management LLC raised its holdings in shares of Autobytel Inc. (NASDAQ:ABTL) by 48.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,735 shares of the information services provider’s stock after acquiring an additional 25,660 shares during the quarter. Autobytel makes up 1.6% of Emancipation Management LLC’s investment portfolio, making the stock its 15th largest position. Emancipation Management LLC owned approximately 0.71% of Autobytel worth $993,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of ABTL. Globeflex Capital L P purchased a new position in Autobytel during the 1st quarter valued at about $102,000. JPMorgan Chase & Co. increased its holdings in Autobytel by 24.9% during the 1st quarter. JPMorgan Chase & Co. now owns 8,706 shares of the information services provider’s stock valued at $109,000 after acquiring an additional 1,734 shares in the last quarter. Salem Investment Counselors Inc. purchased a new position in Autobytel during the 1st quarter valued at about $130,000. Acadian Asset Management LLC purchased a new position in Autobytel during the 1st quarter valued at about $151,000. Finally, Hancock Holding Co. purchased a new position in Autobytel during the 1st quarter valued at about $176,000. Hedge funds and other institutional investors own 58.59% of the company’s stock.
Autobytel Inc. (NASDAQ:ABTL) traded up 1.29% during midday trading on Tuesday, hitting $7.85. 16,626 shares of the company’s stock traded hands. Autobytel Inc. has a 52 week low of $6.63 and a 52 week high of $18.32. The company has a market capitalization of $101.01 million, a PE ratio of 23.72 and a beta of 0.99. The company has a 50 day moving average of $8.85 and a 200-day moving average of $11.73.
Autobytel (NASDAQ:ABTL) last posted its quarterly earnings data on Thursday, August 3rd. The information services provider reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.07. The firm had revenue of $34.60 million for the quarter, compared to the consensus estimate of $34.30 million. Autobytel had a return on equity of 10.96% and a net margin of 3.15%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 EPS. Equities research analysts predict that Autobytel Inc. will post $0.78 earnings per share for the current year.
Autobytel announced that its board has initiated a stock buyback program on Wednesday, September 6th that authorizes the company to buyback $3.00 million in outstanding shares. This buyback authorization authorizes the information services provider to buy up to 34% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
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Several equities analysts have weighed in on ABTL shares. B. Riley restated a “buy” rating and set a $12.00 target price on shares of Autobytel in a report on Wednesday, August 9th. ValuEngine upgraded shares of Autobytel from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research downgraded shares of Autobytel from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Finally, Barrington Research downgraded shares of Autobytel from an “outperform” rating to a “market perform” rating in a report on Friday, August 4th.
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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