Autohome (NYSE:ATHM) Shares Gap Down – Here’s What Happened

Autohome Inc. (NYSE:ATHM) gapped down prior to trading on Thursday . The stock had previously closed at $19.09, but opened at $18.20. Autohome shares last traded at $17.8590, with a volume of 26,567 shares.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ATHM. HSBC lowered Autohome from a “buy” rating to a “hold” rating and set a $17.30 price objective for the company. in a report on Thursday, May 14th. Zacks Research downgraded Autohome from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. JPMorgan Chase & Co. reduced their target price on Autohome from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 3rd. Wall Street Zen cut Autohome from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Finally, Weiss Ratings downgraded Autohome from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 20th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $17.15.

Autohome Trading Up 0.1%

The company has a market cap of $2.10 billion, a PE ratio of 13.89 and a beta of 0.23. The firm’s 50-day simple moving average is $18.03 and its two-hundred day simple moving average is $19.68.

Autohome Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.66 per share. The ex-dividend date is Thursday, July 2nd. Autohome’s payout ratio is presently 183.97%.

Insiders Place Their Bets

In related news, CFO Yan Zeng sold 24,300 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $4.35, for a total value of $105,705.00. Following the completion of the transaction, the chief financial officer owned 169,940 shares in the company, valued at $739,239. This trade represents a 12.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Bibo Xiang sold 10,508 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $4.35, for a total value of $45,709.80. Following the completion of the transaction, the chief technology officer owned 62,368 shares of the company’s stock, valued at $271,300.80. This trade represents a 14.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Federated Hermes Inc. raised its stake in shares of Autohome by 86.9% in the fourth quarter. Federated Hermes Inc. now owns 2,852,839 shares of the information services provider’s stock worth $63,504,000 after purchasing an additional 1,326,281 shares during the last quarter. Invesco Ltd. boosted its position in Autohome by 12.2% in the third quarter. Invesco Ltd. now owns 7,968,365 shares of the information services provider’s stock valued at $227,497,000 after buying an additional 868,151 shares during the last quarter. Norges Bank acquired a new position in Autohome in the 4th quarter worth approximately $14,167,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Autohome in the 4th quarter worth approximately $10,937,000. Finally, M&G PLC increased its holdings in Autohome by 13.7% in the 4th quarter. M&G PLC now owns 3,420,121 shares of the information services provider’s stock worth $75,243,000 after buying an additional 413,287 shares during the period. 63.08% of the stock is owned by institutional investors and hedge funds.

About Autohome

Autohome Inc (NYSE: ATHM) operates one of China’s leading online destinations for automobile consumers, offering a comprehensive suite of digital platforms and services throughout the vehicle ownership lifecycle. Headquartered in Beijing, the company’s core website and mobile applications deliver news, reviews, pricing information, photos, videos and interactive tools to help prospective buyers evaluate new and used vehicles. By aggregating rich editorial content with user-generated ratings and expert analyses, Autohome seeks to guide consumers through research, purchase and after-sales decision-making.

In addition to its consumer-facing properties, Autohome provides automakers, dealers and service providers with integrated digital marketing and e-commerce solutions.