Auto Trader Group (OTCMKTS:ATDRY) Stock Price Down 1.2% - Here's What Happened

Key Points

• Auto Trader Group's stock price decreased by 1.2%, closing at $2.53 after trading as low as $2.49, with a trading volume increase of 23% over its daily average.
• Analysts have mixed opinions on the stock, with Citigroup maintaining a "buy" rating while Morgan Stanley issued an "underweight" rating, leading to an average recommendation of "Reduce."
• The company announced a dividend increase, declaring a payment of $0.0192 per share, reflecting a high dividend yield of 105% compared to its previous dividend of $0.01.

Auto Trader Group (OTCMKTS:ATDRY - Get Free Report)'s share price was down 1.2% on Wednesday . The company traded as low as $2.49 and last traded at $2.53. Approximately 347,424 shares changed hands during mid-day trading, an increase of 23% from the average daily volume of 282,941 shares. The stock had previously closed at $2.56.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ATDRY shares. Citigroup reissued a "buy" rating on shares of Auto Trader Group in a research report on Tuesday, June 10th. Morgan Stanley reissued an "underweight" rating on shares of Auto Trader Group in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce".

Auto Trader Group Stock Performance

The stock has a 50-day simple moving average of $2.69 and a 200 day simple moving average of $2.68.

Auto Trader Group Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 1st will be paid a dividend of $0.0192 per share. This represents a dividend yield of 105.0%. The ex-dividend date is Friday, August 29th. This is an increase from Auto Trader Group's previous dividend of $0.01.

Auto Trader Group Company Profile

Auto Trader Group plc operates in the digital automotive marketplace in the United Kingdom and Ireland. The company provides vehicle advertisement on its websites for private sellers, as well as insurance and loan financing products to consumers; and display advertising on its websites for manufacturers and their advertising agencies.

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