China Yuchai International (NYSE:CYD) Stock Price Down 7.4% – Here’s What Happened
by Teresa Graham · The Cerbat GemChina Yuchai International Limited (NYSE:CYD – Get Free Report)’s share price dropped 7.4% during trading on Wednesday. The stock traded as low as $30.18 and last traded at $29.8170. Approximately 172,670 shares were traded during trading, a decline of 1% from the average session volume of 174,398 shares. The stock had previously closed at $32.19.
Analysts Set New Price Targets
Several research analysts have recently issued reports on CYD shares. Citigroup upgraded China Yuchai International to a “buy” rating in a research report on Monday, July 27th. Wall Street Zen lowered China Yuchai International from a “buy” rating to a “hold” rating in a research report on Saturday, September 26th. Zacks Research cut China Yuchai International from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 25th. Greenridge Global upgraded shares of China Yuchai International from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Finally, Weiss Ratings downgraded shares of China Yuchai International from a “buy (b-)” rating to a “hold (c)” rating in a research note on Tuesday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $60.00.
China Yuchai International Stock Up 3.1%
The company’s fifty day moving average price is $38.45 and its two-hundred day moving average price is $43.80.
Insider Transactions at China Yuchai International
In other news, Director Neo Kiat sold 8,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $45.69, for a total value of $365,520.00. Following the sale, the director directly owned 8,000 shares in the company, valued at $365,520. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Loo Sen sold 13,200 shares of China Yuchai International stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $46.95, for a total value of $619,740.00. Following the completion of the sale, the chief financial officer directly owned 13,200 shares in the company, valued at approximately $619,740. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.
Hedge Funds Weigh In On China Yuchai International
Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its stake in shares of China Yuchai International by 101.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 886 shares of the company’s stock worth $27,000 after buying an additional 447 shares during the last quarter. Engineers Gate Manager LP raised its holdings in China Yuchai International by 25.7% in the 2nd quarter. Engineers Gate Manager LP now owns 32,487 shares of the company’s stock valued at $1,540,000 after acquiring an additional 6,647 shares during the period. Ameritas Advisory Services LLC acquired a new stake in China Yuchai International during the second quarter worth approximately $280,000. BTG Pactual Asset Management US LLC acquired a new stake in China Yuchai International during the second quarter worth approximately $211,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of China Yuchai International during the second quarter worth approximately $455,000.
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.