Notable Hit: (ABG:NYSE) On Thursday February 2, 2023 Asbury Automotive Group, Inc. (ABG) posted revenues of $3.71 billion, missing the consensus estimates by 3% and in the same direction as Advan's forecasted sales. The revenue increased 39% YoY - in line with Advan's foot traffic data increase of 18% YoY across its auto dealerships for Q4 2022. The stock closed at $241.71, up 4.35% from previous close. Advan's footfall data has a correlation of 0.89 on a YoY basis with ABG's top-line revenue over the last 11 quarters.
Advan is the leader in the financial and real estate industries, enabling participants to analyze foot traffic data across multiple sectors, including retail, hospitality, consumer services, energy, technology, healthcare, REITS, financials and others. Advan derives its datasets using multi parameter models that analyze cellphone location data crossed with curated geofenced areas.
Top tier institutional investors spanning from quantitative hedge funds to fundamental asset managers have been the main consumers of Advan’s products.