Bank of America Corp DE Boosts Stake in Autohome Inc. $ATHM

Key Points

• Bank of America increased its Autohome stake by 159.7% in the first quarter, purchasing 224,318 additional shares to own 364,818 shares worth approximately $6.34 million. Institutional investors collectively hold 63.08% of the company.
• Analyst sentiment remains cautious: Autohome has an average “Reduce” rating and a consensus price target of $17.77, with recent downgrades from Bank of America, HSBC, and JPMorgan.
• ATHM shares opened at $22.20, up 2.2%, with a market capitalization of $2.56 billion. Company insiders own 5.70% of the stock, while the CFO and CTO recently sold shares to cover tax obligations tied to vested equity awards.

Bank of America Corp DE raised its position in shares of Autohome Inc. (NYSE:ATHM - Free Report) by 159.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,818 shares of the information services provider's stock after buying an additional 224,318 shares during the quarter. Bank of America Corp DE owned about 0.32% of Autohome worth $6,337,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its position in shares of Autohome by 5.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,168 shares of the information services provider's stock valued at $236,000 after acquiring an additional 438 shares during the last quarter. Mondrian Investment Partners LTD raised its stake in Autohome by 10.1% during the fourth quarter. Mondrian Investment Partners LTD now owns 5,714 shares of the information services provider's stock valued at $127,000 after purchasing an additional 523 shares in the last quarter. Guinness Asset Management LTD lifted its position in Autohome by 20.7% during the fourth quarter. Guinness Asset Management LTD now owns 3,271 shares of the information services provider's stock valued at $76,000 after purchasing an additional 560 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Autohome by 5.7% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 11,101 shares of the information services provider's stock valued at $247,000 after purchasing an additional 601 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Autohome by 30.5% in the 3rd quarter. Parallel Advisors LLC now owns 2,886 shares of the information services provider's stock worth $82,000 after buying an additional 674 shares in the last quarter. Institutional investors own 63.08% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ATHM shares. Bank of America downgraded shares of Autohome from a "neutral" rating to an "underperform" rating and set a $19.00 target price on the stock. in a report on Tuesday, August 18th. Zacks Research upgraded Autohome from a "strong sell" rating to a "hold" rating in a research report on Friday, August 7th. HSBC cut Autohome from a "buy" rating to a "hold" rating and set a $17.30 price objective on the stock. in a research note on Thursday, May 14th. Weiss Ratings restated a "sell (d+)" rating on shares of Autohome in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. lowered their price objective on Autohome from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, June 3rd. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $17.77.

Insider Buying and Selling at Autohome

In other news, CFO Yan Zeng sold 24,300 shares of Autohome stock in a transaction on Friday, May 29th. The stock was sold at an average price of $4.35, for a total transaction of $105,705.00. Following the completion of the sale, the chief financial officer directly owned 169,940 shares in the company, valued at approximately $739,239. This trade represents a 12.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 business's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $4.35, for a total transaction of $45,709.80. Following the sale, the chief technology officer directly owned 62,368 shares of the company's stock, valued at $271,300.80. This represents a 14.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 Trading Up 2.2%

ATHM stock opened at $22.20 on Thursday. The stock has a market cap of $2.56 billion, a PE ratio of 19.14 and a beta of 0.23. Autohome Inc. has a 12 month low of $15.57 and a 12 month high of $29.92. The company has a 50-day moving average price of $21.08 and a 200 day moving average price of $19.43.

Autohome 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.

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