In a recent disclosure filed with the Securities and Exchange Commission (SEC), American Century Companies Inc. revealed that it has lowered its holdings in Autohome Inc. (NYSE:ATHM) by 3.7% during the first quarter of this year. This translates to a sale of 19,343 shares, leaving American Century Companies Inc. with 507,080 shares of Autohome’s stock. Based on the most recent filing, these shares are valued at $16,972,000.
Autohome Inc., an information services provider, released its quarterly earnings data on July 27th of this year. The company reported earnings per share (EPS) of $0.59 for the quarter, which aligns with analysts’ consensus estimates. Additionally, Autohome boasted a return on equity of 9.03% and a net margin of 27.61% during this period. Although the company fell slightly short of analysts’ revenue expectations by reporting $252.79 million instead of the projected $259.12 million, industry experts predict that Autohome will post 2.3 EPS for the current fiscal year.
Operating as an online destination for automobile consumers in China, Autohome Inc.’s three websites – autohome.com.cn, che168.com, and ttpai.cn – provide interactive content and tools to users across various platforms including PCs, mobile devices, mobile applications, and mini apps.
With American Century Companies Inc.’s recent reduction in holdings and Autohome’s steady performance reported for the first quarter of this year, market observers will be watching closely as the fiscal year progresses to see if these trends hold or change course over time.
Please note that all information provided is accurate as of September 2nd, 2023
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Institutional Investors Increase Holdings in Autohome Inc., Sparking Curiosity and Uncertainty
In recent months, several institutional investors have made significant changes to their positions in Autohome Inc. (NYSE: ATHM), an information services provider. FMR LLC, for instance, has increased its holdings in the company by a staggering 169.4% during the second quarter of this year. As a result, FMR LLC now owns 1,770 shares of Autohome’s stock with an estimated value of $70,000 after purchasing an additional 1,113 shares in the last quarter.
Another notable institutional investor, PNC Financial Services Group Inc., experienced significant growth in its holdings in Autohome as well. During the fourth quarter of last year, the company’s holdings grew by a substantial 344.1%, resulting in ownership of 3,602 shares worth approximately $110,000. This increase was attributed to PNC Financial Services Group Inc.’s acquisition of an additional 2,791 shares during the period.
Captrust Financial Advisors also raised its position in Autohome by an impressive 75.3% during the first quarter of this year. The firm now owns 3,752 shares with a market value of $116,000 after acquiring an extra 1,612 shares during that period.
Steward Partners Investment Advisory LLC followed suit and lifted its holdings in Autohome by 127.6% during the fourth quarter last year. As a result, Steward Partners Investment Advisory LLC currently owns 3,822 shares valued at $117,000 after purchasing an additional 2,143 shares.
Lastly, Tower Research Capital LLC TRC demonstrated an astonishing increase of 2,036.6% in its holdings in Autohome during the third quarter last year. Tower Research Capital LLC TRC now owns 4,145 shares worth around $119,000 after acquiring an extra 3,951 shares.
It is noteworthy that hedge funds and other institutional investors collectively own about 48.07% of Autohome Inc.’s stock.
Autohome Inc., which is listed on the New York Stock Exchange with the ticker symbol ATHM, opened at $28.89 on Friday. The company has a market capitalization of $3.63 billion and a price-to-earnings ratio of 12.84, with a beta of 0.23.
Analysts from Jefferies Financial Group recently commented on ATHM shares, lowering their price objective from $48.00 to $46.00 in a research note published on Monday, July 17th. Additionally, StockNews.com downgraded Autohome’s shares from a “buy” rating to a “hold” rating in another report released on the same day.
In conclusion, recent changes made by institutional investors in Autohome Inc.’s holdings have raised perplexity and sparked curiosity about the company’s future performance in the market. With significant increases in ownership and various analysts providing their insight, it remains to be seen how these developments will affect Autohome’s overall trajectory going forward.