Long Corridor Asset Management Ltd Buys New Shares in Autohome Inc. (NYSE:ATHM)

Key Points

• Long Corridor Asset Management Ltd invested approximately $8.96 million in Autohome Inc. during the first quarter, acquiring 323,083 shares, which makes up 6.7% of their portfolio.
• Several other institutional investors, including JPMorgan Chase & Co. and California State Teachers Retirement System, have also increased their stakes in Autohome, reflecting growing interest among institutional investors.
• Analysts have upgraded Autohome from a "hold" to a "buy" rating, with an average price target of $36.00, suggesting positive market sentiment towards the stock.

Long Corridor Asset Management Ltd purchased a new stake in shares of Autohome Inc. (NYSE:ATHM - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 323,083 shares of the information services provider's stock, valued at approximately $8,956,000. Autohome comprises 6.7% of Long Corridor Asset Management Ltd's investment portfolio, making the stock its 6th biggest holding. Long Corridor Asset Management Ltd owned 0.27% of Autohome at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ATHM. GAMMA Investing LLC raised its holdings in Autohome by 2,671.8% in the 1st quarter. GAMMA Investing LLC now owns 1,968 shares of the information services provider's stock worth $55,000 after purchasing an additional 1,897 shares during the period. Walleye Capital LLC acquired a new position in shares of Autohome during the fourth quarter valued at approximately $231,000. Quantinno Capital Management LP acquired a new position in Autohome during the fourth quarter worth $257,000. Ping Capital Management Inc. acquired a new position in Autohome during the first quarter worth $277,000. Finally, Vontobel Holding Ltd. boosted its stake in Autohome by 26.4% during the first quarter. Vontobel Holding Ltd. now owns 10,828 shares of the information services provider's stock worth $300,000 after buying an additional 2,264 shares during the last quarter. Hedge funds and other institutional investors own 63.08% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Autohome from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Autohome currently has an average rating of "Moderate Buy" and a consensus target price of $36.00.

Autohome Stock Performance

Shares of ATHM traded down $0.44 during midday trading on Friday, hitting $28.41. 365,449 shares of the stock were exchanged, compared to its average volume of 270,076. Autohome Inc. has a 52-week low of $23.05 and a 52-week high of $34.70. The stock has a fifty day simple moving average of $27.00 and a 200 day simple moving average of $27.24. The firm has a market cap of $3.40 billion, a P/E ratio of 16.71 and a beta of -0.03.

Autohome Company 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.