China Yuchai International (NYSE:CYD) Shares Gap Down - Here's What Happened

Key Points

• China Yuchai shares gapped down from a prior close of $29.82 to open at $28.14, later trading near $28.26 on relatively low volume.
• Analyst sentiment remains mixed but leans positive: the stock has a consensus “Buy” rating and an average price target of $60, despite several recent downgrades to “Hold.”
• Company insiders sold shares in August, while several hedge funds increased their positions, including Matthews International Capital Management, which boosted its stake by 423.7%.

Shares of China Yuchai International Limited (NYSE:CYD - Get Free Report) gapped down before the market opened on Tuesday. The stock had previously closed at $29.82, but opened at $28.14. China Yuchai International shares last traded at $28.2640, with a volume of 4,782 shares.

Analysts Set New Price Targets

CYD has been the topic of several research analyst reports. Citigroup raised shares of China Yuchai International to a "buy" rating in a research report on Monday, July 27th. Zacks Research lowered shares of China Yuchai International from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 25th. Wall Street Zen downgraded shares of China Yuchai International from a "buy" rating to a "hold" rating in a research note on Saturday, September 26th. Weiss Ratings lowered shares of China Yuchai International from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday. Finally, Greenridge Global upgraded shares of China Yuchai International from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, China Yuchai International has a consensus rating of "Buy" and an average target price of $60.00.

China Yuchai International Stock Performance

The company has a 50 day simple moving average of $37.73 and a 200 day simple moving average of $43.63.

Insider Activity at China Yuchai International

In other China Yuchai International news, Director Neo Kiat sold 8,000 shares of China Yuchai International stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $45.69, for a total transaction of $365,520.00. Following the transaction, the director directly owned 8,000 shares of the company's stock, valued at $365,520. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Loo Sen sold 13,200 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $46.95, for a total transaction of $619,740.00. Following the sale, the chief financial officer owned 13,200 shares of the company's stock, valued at approximately $619,740. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Hedge Funds Weigh In On China Yuchai International

Hedge funds have recently made changes to their positions in the business. Matthews International Capital Management LLC boosted its position in shares of China Yuchai International by 423.7% in the first quarter. Matthews International Capital Management LLC now owns 324,034 shares of the company's stock worth $12,475,000 after buying an additional 262,165 shares during the period. Renaissance Technologies LLC grew its stake in shares of China Yuchai International by 23.4% in the first quarter. Renaissance Technologies LLC now owns 343,603 shares of the company's stock valued at $13,229,000 after buying an additional 65,109 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of China Yuchai International during the 1st quarter valued at about $1,653,000. Dorsey Wright & Associates raised its holdings in shares of China Yuchai International by 41.6% during the 1st quarter. Dorsey Wright & Associates now owns 90,208 shares of the company's stock valued at $3,473,000 after buying an additional 26,482 shares during the period. Finally, Diversify Wealth Management LLC raised its holdings in shares of China Yuchai International by 41.2% during the 1st quarter. Diversify Wealth Management LLC now owns 76,412 shares of the company's stock valued at $3,063,000 after buying an additional 22,305 shares during the period.

China Yuchai International Company Profile

China Yuchai International Limited NYSE: CYD is a holding company whose principal operating subsidiary is Guangxi Yuchai Machinery Company Limited. Based in China, Yuchai develops, manufactures and sells a broad range of diesel and natural-gas engines for commercial vehicles, passenger vehicles, construction equipment, agricultural machinery, marine applications and power-generation systems.

The company also produces engine components and provides related services, including engine remanufacturing, maintenance and technical support.

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