Autohome (NYSE:ATHM) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Autohome (NYSE:ATHM) from a buy rating to a hold rating in a research report released on Tuesday morning.

Several other equities analysts also recently issued reports on the stock. CLSA downgraded shares of Autohome from an “outperform” rating to a “hold” rating in a report on Thursday, October 24th. Hsbc Global Res upgraded shares of Autohome to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Benchmark cut shares of Autohome from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.00.

Autohome Stock Down 1.6 %

ATHM opened at $27.60 on Tuesday. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 13.94 and a beta of 0.18. Autohome has a 52-week low of $21.89 and a 52-week high of $34.70. The firm’s fifty day simple moving average is $29.75 and its two-hundred day simple moving average is $27.61.

Autohome announced that its board has initiated a stock buyback program on Wednesday, September 4th that permits the company to buyback $0.00 in shares. This buyback authorization permits the information services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Autohome Increases Dividend

The company also recently disclosed a Variable dividend, which will be paid on Wednesday, March 19th. Investors of record on Tuesday, December 31st will be given a dividend of $1.15 per share. This is a boost from Autohome’s previous Variable dividend of $0.57. This represents a yield of 5.8%. The ex-dividend date is Tuesday, December 31st. Autohome’s dividend payout ratio (DPR) is presently 83.58%.

Institutional Investors Weigh In On Autohome

Hedge funds and other institutional investors have recently bought and sold shares of the company. M&G Plc increased its position in Autohome by 3.3% during the second quarter. M&G Plc now owns 3,088,758 shares of the information services provider’s stock worth $83,396,000 after purchasing an additional 97,994 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Autohome by 11.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,311,742 shares of the information services provider’s stock valued at $36,007,000 after acquiring an additional 133,993 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Autohome by 10.7% during the second quarter. Hsbc Holdings PLC now owns 249,984 shares of the information services provider’s stock valued at $6,862,000 after acquiring an additional 24,115 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Autohome during the second quarter valued at about $2,497,000. Finally, Krane Funds Advisors LLC increased its position in shares of Autohome by 10.7% during the second quarter. Krane Funds Advisors LLC now owns 2,816,972 shares of the information services provider’s stock valued at $77,326,000 after acquiring an additional 272,092 shares during the last quarter. 63.08% of the stock is currently owned by institutional investors and hedge funds.

About Autohome

Autohome Inc operates as an online destination for automobile consumers in the People’s Republic of China. The company delivers interactive content and tools to automobile consumers through its three websites, autohome.com.cn, che168.com, and ttpai.cn on PCs, mobile devices, mobile applications, and mini apps.