Autobytel Inc. (NASDAQ:ABTL) shares reached a new 52-week low on Friday following a weaker than expected earnings announcement. The stock traded as low as $7.80 and last traded at $7.85, with a volume of 1,020,143 shares. The stock had previously closed at $10.87.

The information services provider reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.07. The business had revenue of $34.60 million for the quarter, compared to analysts’ expectations of $34.30 million. Autobytel had a return on equity of 11.95% and a net margin of 3.19%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 earnings per share.

A number of research analysts recently commented on ABTL shares. B. Riley reissued a “buy” rating and issued a $20.00 target price on shares of Autobytel in a research note on Friday, May 5th. Zacks Investment Research raised Autobytel from a “sell” rating to a “hold” rating and set a $14.00 target price on the stock in a research note on Wednesday, May 10th. ValuEngine cut Autobytel from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Barrington Research cut Autobytel from an “outperform” rating to a “market perform” rating in a research note on Friday.

In other news, EVP William Ferriolo sold 13,488 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $13.72, for a total transaction of $185,055.36. Following the transaction, the executive vice president now directly owns 164,253 shares of the company’s stock, valued at $2,253,551.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Glenn Evan Fuller sold 13,907 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $13.75, for a total value of $191,221.25. Following the transaction, the chief accounting officer now directly owns 20,607 shares in the company, valued at $283,346.25. The disclosure for this sale can be found here. Insiders have sold 80,778 shares of company stock worth $1,060,935 over the last ninety days. Insiders own 12.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Globeflex Capital L P bought a new position in shares of Autobytel during the first quarter worth about $102,000. JPMorgan Chase & Co. boosted its position in shares of Autobytel by 24.9% in the first quarter. JPMorgan Chase & Co. now owns 8,706 shares of the information services provider’s stock worth $109,000 after buying an additional 1,734 shares during the period. Stoneridge Investment Partners LLC bought a new position in shares of Autobytel during the first quarter worth about $129,000. Salem Investment Counselors Inc. bought a new position in shares of Autobytel during the first quarter worth about $130,000. Finally, Acadian Asset Management LLC bought a new position in shares of Autobytel during the first quarter worth about $151,000. 65.23% of the stock is currently owned by hedge funds and other institutional investors.

The company has a market cap of $90.89 million, a PE ratio of 22.87 and a beta of 0.90. The stock’s 50-day moving average price is $12.37 and its 200 day moving average price is $12.74.

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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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