Bitauto Holdings Limited (BITA) Rating Increased 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 released on Thursday.

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 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.

Bitauto Holdings Limited (BITA) opened at 44.68 on Thursday. Bitauto Holdings Limited has a 1-year low of $16.56 and a 1-year high of $47.82. The firm has a 50-day moving average price of $37.59 and a 200-day moving average price of $30.30. The firm’s market capitalization is $3.12 billion.

Bitauto Holdings Limited (NYSE:BITA) last posted its quarterly earnings data 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 business had revenue of $320.20 million during the quarter, compared to the consensus estimate of $282.86 million. During the same period last year, the business posted $0.20 earnings per share. The business’s revenue was up 52.9% on a year-over-year basis. Equities analysts expect that Bitauto Holdings Limited will post $1.12 earnings per share for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the company. Cantillon Capital Management LLC raised its position in shares of Bitauto Holdings Limited by 10.4% in the 2nd quarter. Cantillon Capital Management LLC now owns 3,800,612 shares of the information services provider’s stock worth $109,268,000 after acquiring an additional 359,377 shares in the last quarter. Platinum Investment Management Ltd. raised its position in shares of Bitauto Holdings Limited by 315.2% in the 2nd quarter. Platinum Investment Management Ltd. now owns 2,379,526 shares of the information services provider’s stock worth $68,411,000 after acquiring an additional 1,806,426 shares in the last quarter. Bamco Inc. NY raised its position in shares of Bitauto Holdings Limited by 74.2% in the 2nd quarter. Bamco Inc. NY now owns 1,275,700 shares of the information services provider’s stock worth $36,676,000 after acquiring an additional 543,312 shares in the last quarter. Hillhouse Capital Management Ltd. bought a new position in shares of Bitauto Holdings Limited in the 2nd quarter worth about $32,315,000. Finally, FIL Ltd raised its position in shares of Bitauto Holdings Limited by 4.2% in the 1st quarter. FIL Ltd now owns 957,848 shares of the information services provider’s stock worth $24,531,000 after acquiring an additional 38,295 shares in the last quarter. 19.66% 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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