Bitauto Holdings Limited (BITA) Lifted to “Hold” at Zacks Investment Research

Bitauto Holdings Limited (NYSE:BITA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday, July 14th.

According to Zacks, “Bitauto Holdings Limited is engaged in providing internet content and marketing services for automotive industry in China. Its bitauto.com and ucar.cn websites provide consumers new and used automobile pricing information, specifications, reviews and consumer feedback. The Company operates in three segments- bitauto.com business, ucar.cn business and digital marketing solutions business. Bitauto.com business provides subscription services to new automobile dealers and advertising services to dealers and automakers on bitauto.com website. Bitauto’s ucar.cn business provides listing and advertising services to used automobile dealers on ucar.cn website. The Company’s digital marketing solutions business provides automakers with digital marketing solutions, including website creation and maintenance, online public relations, online marketing campaigns and advertising agent services. Bitauto Holdings Limited is headquartered in Beijing, the People’s Republic of China. “

BITA has been the subject of a number of other research reports. HSBC Holdings plc reaffirmed a “buy” rating and set a $33.00 price target (up previously from $27.00) on shares of Bitauto Holdings Limited in a research report on Wednesday, May 17th. BidaskClub upgraded Bitauto Holdings Limited from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Bitauto Holdings Limited currently has a consensus rating of “Buy” and an average target price of $34.00.

Bitauto Holdings Limited (NYSE BITA) traded up 3.10% during trading on Friday, hitting $36.91. 884,996 shares of the stock were exchanged. The stock’s market cap is $2.84 billion. Bitauto Holdings Limited has a 1-year low of $16.56 and a 1-year high of $38.57. The firm’s 50 day moving average price is $31.04 and its 200-day moving average price is $26.64.

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Several large investors have recently made changes to their positions in BITA. Russell Investments Group Ltd. bought a new stake in shares of Bitauto Holdings Limited during the fourth quarter worth about $339,000. State Street Corp boosted its stake in shares of Bitauto Holdings Limited by 18.9% in the fourth quarter. State Street Corp now owns 118,645 shares of the information services provider’s stock worth $2,249,000 after buying an additional 18,835 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Bitauto Holdings Limited during the fourth quarter worth about $2,369,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of Bitauto Holdings Limited during the first quarter worth about $280,000. Finally, Bank of Montreal Can boosted its stake in shares of Bitauto Holdings Limited by 1,411.3% in the first quarter. Bank of Montreal Can now owns 106,004 shares of the information services provider’s stock worth $2,714,000 after buying an additional 98,990 shares in the last quarter. Institutional investors own 18.87% of the company’s stock.

About Bitauto Holdings Limited

Bitauto Holdings Limited is a provider of Internet content and marketing services for China’s automotive industry. The Company’s bitauto.com and taoche.com Websites provide consumers with information on new and used automobile pricing, and promotional information, specifications, reviews and consumer feedback.

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