Bitauto Holdings Limited (NYSE:BITA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday, September 15th.
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. “
Several other equities research analysts have also recently commented on BITA. BidaskClub upgraded Bitauto Holdings Limited from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. ValuEngine upgraded Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd.
Shares of Bitauto Holdings Limited (NYSE:BITA) traded down 0.53% during trading on Friday, reaching $45.16. 801,792 shares of the company were exchanged. The stock’s 50 day moving average is $37.59 and its 200 day moving average is $30.30. Bitauto Holdings Limited has a 1-year low of $16.56 and a 1-year high of $47.77. The company’s market capitalization is $3.15 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 negative net margin of 4.76% and a positive return on equity of 3.85%. The firm had revenue of $320.20 million during the quarter, compared to analyst estimates of $282.86 million. During the same period in the previous year, the company posted $0.20 earnings per share. Bitauto Holdings Limited’s revenue was up 52.9% compared to the same quarter last year. Equities analysts anticipate that Bitauto Holdings Limited will post $1.15 earnings per share for the current year.
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A number of large investors have recently added to or reduced their stakes in BITA. Platinum Investment Management Ltd. raised its position in Bitauto Holdings Limited by 315.2% in the second 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. Hillhouse Capital Management Ltd. purchased a new position in Bitauto Holdings Limited in the second quarter worth $32,315,000. Bamco Inc. NY raised its position in Bitauto Holdings Limited by 74.2% in the second 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. UBS Group AG raised its position in Bitauto Holdings Limited by 6,428.0% in the first quarter. UBS Group AG now owns 410,347 shares of the information services provider’s stock worth $10,509,000 after acquiring an additional 404,061 shares in the last quarter. Finally, Cantillon Capital Management LLC raised its position in Bitauto Holdings Limited by 10.4% in the second 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. Hedge funds and other institutional investors own 19.66% 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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