Mirae Asset Global Investments Co. Ltd. Cuts Stock Position in Autohome Inc. $ATHM

Key Points

• Mirae Asset Global Investments Co. Ltd. significantly reduced its stake in Autohome Inc. by 98.7% during the second quarter, now holding only 9,140 shares valued at $236,000.
• Despite Mirae's reduction, other hedge funds like Krane Funds Advisors LLC and Robeco Institutional Asset Management B.V. have increased their positions in Autohome, suggesting mixed sentiment among institutional investors.
• Autohome recently announced a special dividend of $0.59 to be paid on November 20, 2023, which represents a yield of 590.0%.

Mirae Asset Global Investments Co. Ltd. lowered its holdings in Autohome Inc. (NYSE:ATHM - Free Report) by 98.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,140 shares of the information services provider's stock after selling 715,633 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Autohome were worth $236,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Krane Funds Advisors LLC increased its holdings in Autohome by 23.4% during the first quarter. Krane Funds Advisors LLC now owns 3,520,385 shares of the information services provider's stock worth $97,585,000 after buying an additional 667,669 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Autohome by 33.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 2,299,013 shares of the information services provider's stock valued at $63,729,000 after acquiring an additional 580,252 shares during the period. Federated Hermes Inc. grew its position in shares of Autohome by 75.0% during the 1st quarter. Federated Hermes Inc. now owns 862,881 shares of the information services provider's stock valued at $23,919,000 after acquiring an additional 369,899 shares during the period. Long Corridor Asset Management Ltd bought a new position in shares of Autohome during the 1st quarter valued at approximately $8,956,000. Finally, Invesco Ltd. lifted its stake in Autohome by 4.4% in the first quarter. Invesco Ltd. now owns 6,672,325 shares of the information services provider's stock valued at $184,957,000 after purchasing an additional 284,057 shares during the last quarter. 63.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Autohome in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Autohome has a consensus rating of "Hold" and an average target price of $36.00.

Autohome Price Performance

Shares of ATHM stock opened at $26.55 on Friday. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 15.62 and a beta of 0.09. Autohome Inc. has a 1 year low of $23.39 and a 1 year high of $32.94. The company's fifty day simple moving average is $28.73 and its two-hundred day simple moving average is $27.13.

Autohome Announces Dividend

The business also recently announced a special dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a $0.59 dividend. The ex-dividend date is Monday, October 20th. This represents a yield of 590.0%. Autohome's dividend payout ratio (DPR) is currently 66.47%.

About Autohome

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.

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