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. “

A number of other equities analysts also recently commented on BITA. BidaskClub raised Bitauto Holdings Limited from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. HSBC Holdings plc reissued a “buy” rating and set a $33.00 price objective (up from $27.00) on shares of Bitauto Holdings Limited in a research report on Wednesday, May 17th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $34.00.

Shares of Bitauto Holdings Limited (NYSE:BITA) opened at 32.23 on Friday. Bitauto Holdings Limited has a 52-week low of $16.56 and a 52-week high of $34.18. The firm’s 50 day moving average is $29.41 and its 200 day moving average is $25.94. The stock’s market capitalization is $2.48 billion.

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A number of institutional investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. acquired a new position in shares of Bitauto Holdings Limited during the second quarter worth about $250,000. SG Americas Securities LLC increased its position in shares of Bitauto Holdings Limited by 67.1% in the first quarter. SG Americas Securities LLC now owns 10,410 shares of the information services provider’s stock worth $267,000 after buying an additional 4,179 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in shares of Bitauto Holdings Limited during the first quarter worth about $280,000. Penserra Capital Management LLC increased its position in shares of Bitauto Holdings Limited by 19.4% in the first quarter. Penserra Capital Management LLC now owns 11,995 shares of the information services provider’s stock worth $307,000 after buying an additional 1,953 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Bitauto Holdings Limited during the first quarter worth about $315,000. 19.40% of the stock is owned by hedge funds and other institutional investors.

Bitauto Holdings Limited Company Profile

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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