Bitauto Holdings Limited (BITA) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Bitauto Holdings Limited (NYSE:BITA) from a sell rating to a hold rating in a research report released on Wednesday.

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 topic of several other reports. BidaskClub raised Bitauto Holdings Limited from a hold rating to a buy rating in a research report on Monday, July 31st. ValuEngine raised Bitauto Holdings Limited from a sell rating to a hold rating in a research report on Thursday, August 3rd. Finally, HSBC Holdings plc reaffirmed a buy rating and issued a $33.00 target price (up from $27.00) on shares of Bitauto Holdings Limited in a research report on Wednesday, May 17th.

Bitauto Holdings Limited (NYSE:BITA) opened at 35.99 on Wednesday. Bitauto Holdings Limited has a 52-week low of $16.56 and a 52-week high of $41.64. The stock’s market capitalization is $2.51 billion. The company has a 50-day moving average of $34.26 and a 200-day moving average of $28.46.

Bitauto Holdings Limited (NYSE:BITA) last issued its earnings results on Tuesday, August 15th. The information services provider reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.05. Bitauto Holdings Limited had a positive return on equity of 3.85% and a negative net margin of 4.76%. The company had revenue of $320.20 million during the quarter, compared to analyst estimates of $282.86 million. During the same period in the prior year, the business earned $0.20 earnings per share. Bitauto Holdings Limited’s quarterly revenue was up 52.9% on a year-over-year basis. Equities research analysts expect that Bitauto Holdings Limited will post $1.15 EPS for the current year.

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A number of large investors have recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new position in Bitauto Holdings Limited during the second quarter valued at about $250,000. SG Americas Securities LLC boosted its position in 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 valued at $267,000 after buying an additional 4,179 shares during the last quarter. Penserra Capital Management LLC boosted its position in 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 valued at $307,000 after buying an additional 1,953 shares during the last quarter. Jane Street Group LLC acquired a new position in Bitauto Holdings Limited during the first quarter valued at about $315,000. Finally, Formula Growth Ltd. acquired a new position in Bitauto Holdings Limited during the first quarter valued at about $1,168,000. 19.66% of the stock is currently owned by hedge funds and other institutional investors.

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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