Bank of New York Mellon Corp cut its stake in Autobytel Inc. (NASDAQ:ABTL) by 22.0% during the second quarter, Holdings Channel reports. The institutional investor owned 63,712 shares of the company’s stock after selling 17,921 shares during the period. Bank of New York Mellon Corp owned approximately 0.60% of Autobytel worth $884,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Thomson Horstmann & Bryant Inc. raised its position in Autobytel by 4.2% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 512,417 shares of the company’s stock valued at $7,107,000 after buying an additional 20,423 shares in the last quarter. Barclays PLC raised its stake in shares of Autobytel by 2.2% in the first quarter. Barclays PLC now owns 24,897 shares of the company’s stock worth $423,000 after buying an additional 525 shares during the period. Adirondack Research & Management Inc. raised its stake in shares of Autobytel by 3.0% in the first quarter. Adirondack Research & Management Inc. now owns 118,885 shares of the company’s stock worth $2,064,000 after buying an additional 3,425 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Autobytel by 35.9% in the first quarter. Geode Capital Management LLC now owns 69,339 shares of the company’s stock worth $1,203,000 after buying an additional 18,312 shares during the period. 66.48% of the stock is currently owned by institutional investors and hedge funds.
Autobytel Inc. (NASDAQ:ABTL) traded up 1.92% during midday trading on Monday, reaching $17.54. 26,472 shares of the company’s stock traded hands. Autobytel Inc. has a 1-year low of $12.33 and a 1-year high of $25.00. The firm’s 50 day moving average price is $16.98 and its 200-day moving average price is $15.81. The company has a market capitalization of $189.17 million, a PE ratio of 79.37 and a beta of 1.34.
Autobytel (NASDAQ:ABTL) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.03. Autobytel had a net margin of 1.85% and a return on equity of 12.16%. The business had revenue of $36.10 million for the quarter, compared to analyst estimates of $34.24 million. During the same period last year, the business earned $0.31 EPS. The company’s revenue was up 18.8% on a year-over-year basis. Equities analysts expect that Autobytel Inc. will post $1.40 EPS for the current year.
A number of equities research analysts have recently weighed in on ABTL shares. B. Riley reissued a “buy” rating and set a $28.00 price objective on shares of Autobytel in a report on Monday. Zacks Investment Research raised shares of Autobytel from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, Barrington Research boosted their price objective on shares of Autobytel from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Monday, October 10th.
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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