58,351 Shares in Autohome Inc. $ATHM Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. opened a new position in Autohome during Q1, buying 58,351 shares valued at about $1.0 million.
• Several other institutional investors have also been active in ATHM, and 63.08% of the stock is now owned by institutions and hedge funds.
• Wall Street sentiment remains cautious: analysts have mostly downgraded the stock, giving it an average rating of "Reduce" with an average target price of $17.15.

Assenagon Asset Management S.A. bought a new stake in Autohome Inc. (NYSE:ATHM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 58,351 shares of the information services provider's stock, valued at approximately $1,014,000.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ATHM shares. JPMorgan Chase & Co. cut their target price on shares of Autohome from $20.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 3rd. Zacks Research cut shares of Autohome from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 9th. HSBC cut shares of 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. Wall Street Zen cut Autohome from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Finally, Weiss Ratings lowered Autohome from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, April 20th. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $17.15.

Insider Buying and Selling at Autohome

In other Autohome news, 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 sale, the chief technology officer directly owned 62,368 shares in the company, valued at $271,300.80. This trade represents a 14.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Yan Zeng sold 24,300 shares of Autohome stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $4.35, for a total value of $105,705.00. Following the sale, the chief financial officer directly owned 169,940 shares of the company's stock, valued at $739,239. This trade represents a 12.51% 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.

Autohome Stock Down 4.7%

NYSE ATHM opened at $18.19 on Friday. Autohome Inc. has a 52 week low of $15.57 and a 52 week high of $29.92. The stock has a market capitalization of $2.10 billion, a PE ratio of 13.89 and a beta of 0.23. The firm has a 50 day moving average of $18.04 and a two-hundred day moving average of $19.69.

Autohome Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 2nd will be issued a $0.66 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. Autohome's dividend payout ratio is 133.59%.

Autohome Company Profile

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.

Want to see what other hedge funds are holding ATHM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Autohome Inc. (NYSE:ATHM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.