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

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 trading hands.

Wall Street Analyst Weigh In

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

Autohome Stock Down 6.5%

The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 13.60 and a beta of 0.23. The company has a 50 day moving average of $18.05 and a 200 day moving average of $19.73.

Autohome Announces Dividend

The firm also recently declared a special dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd will be issued a $0.66 dividend. The ex-dividend date is Thursday, July 2nd. Autohome’s payout ratio is 183.97%.

Insider Transactions at Autohome

In other news, CFO Yan Zeng sold 24,300 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $4.35, for a total transaction of $105,705.00. Following the completion of the transaction, the chief financial officer owned 169,940 shares of the company’s stock, valued at $739,239. This represents a 12.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $4.35, for a total transaction of $45,709.80. Following the transaction, the chief technology officer owned 62,368 shares in the company, valued at approximately $271,300.80. The trade was a 14.42% decrease in their ownership of the stock. 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. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Autohome

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pictet Asset Management Holding SA raised its stake in Autohome by 33.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 418,500 shares of the information services provider’s stock worth $9,316,000 after purchasing an additional 104,800 shares during the period. Kepler Cheuvreux Suisse SA purchased a new stake in shares of Autohome during the 3rd quarter valued at $1,837,000. Schroder Investment Management Group grew its stake in shares of Autohome by 7.3% during the 3rd quarter. Schroder Investment Management Group now owns 1,304,270 shares of the information services provider’s stock valued at $37,237,000 after buying an additional 89,057 shares during the period. SG Americas Securities LLC increased its holdings in shares of Autohome by 210.0% during the 4th quarter. SG Americas Securities LLC now owns 56,595 shares of the information services provider’s stock worth $1,260,000 after buying an additional 38,341 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Autohome by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 2,682,506 shares of the information services provider’s stock worth $59,713,000 after buying an additional 39,969 shares during the last quarter. Institutional investors and hedge funds own 63.08% of the company’s stock.

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.