Bitauto Holdings Limited (BITA) Upgraded 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 research report issued 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. “

Other analysts also recently issued reports about the company. BidaskClub downgraded Bitauto Holdings Limited from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. ValuEngine upgraded Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, HSBC Holdings plc restated a “buy” rating and set a $33.00 price objective (up from $27.00) on shares of Bitauto Holdings Limited in a report on Wednesday, May 17th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Bitauto Holdings Limited presently has a consensus rating of “Buy” and a consensus target price of $34.00.

Bitauto Holdings Limited (NYSE BITA) traded up 0.98% during trading on Wednesday, reaching $34.86. The company had a trading volume of 943,943 shares. The firm’s market capitalization is $2.43 billion. The company’s 50-day moving average is $33.49 and its 200 day moving average is $27.91. Bitauto Holdings Limited has a 52 week low of $16.56 and a 52 week high of $41.64.

Bitauto Holdings Limited (NYSE:BITA) last released its quarterly earnings data on Tuesday, August 15th. The information services provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $320.20 million for the quarter, compared to analyst estimates of $282.86 million. Bitauto Holdings Limited had a positive return on equity of 3.85% and a negative net margin of 4.76%. The company’s quarterly revenue was up 52.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 earnings per share. Equities analysts anticipate that Bitauto Holdings Limited will post $1.18 EPS for the current year.

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Hedge funds have recently made changes to their positions in the stock. Platinum Investment Management Ltd. increased its stake in shares of 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 valued at $68,411,000 after buying an additional 1,806,426 shares in the last quarter. Hillhouse Capital Management Ltd. bought a new stake in shares of Bitauto Holdings Limited during the second quarter valued at about $32,315,000. Pictet Asset Management Ltd. bought a new stake in shares of Bitauto Holdings Limited during the first quarter valued at about $24,184,000. Bamco Inc. NY increased its stake in shares of 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 valued at $36,676,000 after buying an additional 543,312 shares in the last quarter. Finally, UBS Group AG increased its stake in shares of 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 valued at $10,509,000 after buying an additional 404,061 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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