Bitauto Holdings Limited (BITA) Upgraded by Zacks Investment Research to “Hold”

Bitauto Holdings Limited (NYSE:BITA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, September 6th.

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 a number of other reports. 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 report on Wednesday, May 17th. ValuEngine raised shares of Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, BidaskClub raised shares of Bitauto Holdings Limited from a “hold” rating to a “buy” rating in a report on Monday, July 31st.

Bitauto Holdings Limited (BITA) traded down 0.53% on Wednesday, reaching $45.16. The company’s stock had a trading volume of 801,792 shares. Bitauto Holdings Limited has a 52 week low of $16.56 and a 52 week high of $47.77. The company’s market capitalization is $3.15 billion. The firm’s 50 day moving average price is $37.59 and its 200-day moving average price is $30.30.

Bitauto Holdings Limited (NYSE:BITA) last posted its quarterly earnings data on Tuesday, August 15th. The information services provider reported $0.16 EPS for the quarter, missing the Zacks’ 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 for the quarter, compared to analyst estimates of $282.86 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The company’s quarterly revenue was up 52.9% on a year-over-year basis. On average, equities analysts predict that Bitauto Holdings Limited will post $1.15 EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Platinum Investment Management Ltd. boosted its position in shares of Bitauto Holdings Limited by 315.2% during 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. State Street Corp boosted its position in Bitauto Holdings Limited by 1.8% in the second quarter. State Street Corp now owns 117,280 shares of the information services provider’s stock valued at $3,372,000 after buying an additional 2,080 shares in the last quarter. Hillhouse Capital Management Ltd. acquired a new stake in Bitauto Holdings Limited in the second quarter valued at approximately $32,315,000. Macquarie Group Ltd. boosted its position in Bitauto Holdings Limited by 76.6% in the second quarter. Macquarie Group Ltd. now owns 375,000 shares of the information services provider’s stock valued at $10,781,000 after buying an additional 162,600 shares in the last quarter. Finally, UBS Oconnor LLC acquired a new stake in Bitauto Holdings Limited in the second quarter valued at approximately $4,571,000. Institutional investors and hedge funds 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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