Federated Hermes Inc. Grows Stock Position in Autohome Inc. (NYSE:ATHM)

Key Points

• Federated Hermes Inc. increased its stake in Autohome Inc. by 75% in the first quarter, owning approximately 862,881 shares valued at around $23.9 million.
• Other institutional investors have also significantly increased their positions in Autohome, with some, like GAMMA Investing LLC, raising stakes by over 2,600%.
• Analysts upgraded Autohome's stock rating from "hold" to "buy," with a consensus target price of $36.00, indicating positive market sentiment towards the company.

Federated Hermes Inc. grew its position in Autohome Inc. (NYSE:ATHM - Free Report) by 75.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 862,881 shares of the information services provider's stock after acquiring an additional 369,899 shares during the quarter. Federated Hermes Inc. owned 0.72% of Autohome worth $23,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Autohome by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 2,475,258 shares of the information services provider's stock valued at $64,233,000 after purchasing an additional 130,983 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Autohome by 12.6% during the 4th quarter. Prudential Financial Inc. now owns 36,378 shares of the information services provider's stock valued at $979,000 after acquiring an additional 4,085 shares during the period. JPMorgan Chase & Co. boosted its holdings in Autohome by 3.1% during the 4th quarter. JPMorgan Chase & Co. now owns 159,800 shares of the information services provider's stock valued at $4,147,000 after acquiring an additional 4,812 shares during the period. Norges Bank purchased a new position in Autohome during the 4th quarter valued at $12,195,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Autohome by 403.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 140,055 shares of the information services provider's stock valued at $3,634,000 after acquiring an additional 112,262 shares during the period. Institutional investors own 63.08% of the company's stock.

Autohome Price Performance

Shares of NYSE:ATHM traded down $0.30 during midday trading on Tuesday, hitting $27.48. The company had a trading volume of 193,328 shares, compared to its average volume of 435,530. Autohome Inc. has a twelve month low of $21.89 and a twelve month high of $34.70. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 16.17 and a beta of -0.03. The business's 50-day simple moving average is $26.36 and its 200-day simple moving average is $27.19.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Autohome from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.00.

Autohome Profile

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.