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, 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 have also recently issued reports on BITA. HSBC Holdings plc restated a “buy” rating and set a $33.00 target price (up previously from $27.00) on shares of Bitauto Holdings Limited in a report on Wednesday, May 17th. BidaskClub upgraded Bitauto Holdings Limited from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $34.00.
Bitauto Holdings Limited (BITA) opened at 37.63 on Friday. The firm’s 50-day moving average is $29.77 and its 200 day moving average is $26.06. Bitauto Holdings Limited has a 12-month low of $16.56 and a 12-month high of $38.57. The stock’s market capitalization is $2.89 billion.
COPYRIGHT VIOLATION NOTICE: This piece of content was first posted by Transcript Daily and is owned by of Transcript Daily. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The correct version of this piece of content can be viewed at https://transcriptdaily.com/2017/08/09/bitauto-holdings-limited-bita-upgraded-to-hold-at-zacks-investment-research-updated-updated-updated.html.
Several large investors have recently added to or reduced their stakes in the company. FIL Ltd raised its stake in Bitauto Holdings Limited by 4.2% in the first quarter. FIL Ltd now owns 957,848 shares of the information services provider’s stock worth $24,531,000 after buying an additional 38,295 shares in the last quarter. Wellington Management Group LLP raised its stake in Bitauto Holdings Limited by 1,647.1% in the first quarter. Wellington Management Group LLP now owns 278,605 shares of the information services provider’s stock worth $7,135,000 after buying an additional 262,658 shares in the last quarter. SG Americas Securities LLC raised its stake 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 worth $267,000 after buying an additional 4,179 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Bitauto Holdings Limited by 3,394.3% in the first quarter. JPMorgan Chase & Co. now owns 173,739 shares of the information services provider’s stock worth $4,450,000 after buying an additional 168,767 shares in the last quarter. Finally, Penserra Capital Management LLC raised its stake 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 in the last quarter. 18.87% of the stock is currently owned by 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.
Get a free copy of the Zacks research report on Bitauto Holdings Limited (BITA)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Bitauto Holdings Limited Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Bitauto Holdings Limited and related companies with MarketBeat.com’s FREE daily email newsletter.