Autoweb (AUTO) Upgraded to “Hold” at Zacks Investment Research
Autoweb (NASDAQ:AUTO) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “AutoWeb, Inc. provides consumer leads and associated marketing services primarily to automotive dealers and manufacturers throughout the United States. It also provides consumers with robust and original online automotive content. AutoWeb Inc., formerly known as Autobytel Inc., is headquartered in Irvine, CA. “
A number of other research firms have also commented on AUTO. Barrington Research restated a “hold” rating on shares of Autoweb in a research note on Monday, May 7th. Lake Street Capital lowered shares of Autoweb from a “buy” rating to a “hold” rating in a research note on Friday, May 11th. ValuEngine upgraded shares of Autoweb from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. TheStreet lowered shares of Autoweb from a “c-” rating to a “d” rating in a research note on Tuesday, March 13th. Finally, B. Riley dropped their price objective on shares of Autoweb from $4.90 to $4.00 and set a “neutral” rating on the stock in a research note on Friday, May 11th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Autoweb presently has an average rating of “Hold” and an average target price of $6.67.
Autoweb (NASDAQ:AUTO) last posted its quarterly earnings data on Thursday, May 10th. The information services provider reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The business had revenue of $32.35 million during the quarter, compared to analyst estimates of $32.02 million. Autoweb had a negative net margin of 55.22% and a negative return on equity of 0.52%. research analysts anticipate that Autoweb will post -0.44 EPS for the current fiscal year.
In other news, major shareholder Investment & Development Finan bought 42,296 shares of the stock in a transaction dated Friday, May 18th. The shares were acquired at an average price of $3.61 per share, with a total value of $152,688.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jared Robert Rowe bought 60,975 shares of the stock in a transaction dated Tuesday, May 15th. The stock was purchased at an average cost of $3.28 per share, for a total transaction of $199,998.00. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 157,545 shares of company stock worth $552,415. Insiders own 30.60% of the company’s stock.
Several large investors have recently modified their holdings of the company. Kokino LLC boosted its holdings in shares of Autoweb by 10.4% in the first quarter. Kokino LLC now owns 690,000 shares of the information services provider’s stock valued at $2,056,000 after acquiring an additional 65,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Autoweb by 11.1% during the first quarter. Dimensional Fund Advisors LP now owns 315,549 shares of the information services provider’s stock worth $940,000 after buying an additional 31,534 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Autoweb during the fourth quarter worth about $2,633,000. BlackRock Inc. purchased a new stake in Autoweb during the fourth quarter worth about $2,188,000. Finally, Fondren Management LP purchased a new stake in Autoweb during the fourth quarter worth about $1,802,000. 44.46% of the stock is currently owned by institutional investors and hedge funds.
AutoWeb, Inc operates as a digital marketing company for the automotive industry in the United States. It assists automotive retail dealers and manufacturers to market and sell new and used vehicles to consumers through its programs. The company's products include new vehicle lead program, which allows consumers to submit requests for pricing and availability of specific makes and models; and used vehicle lead program, which allows consumers to search for used vehicles according to search parameters, such as price, make, model, mileage, year, and location of the vehicle.
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