Bitauto Holdings Limited (NYSE:BITA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.
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 brokerages have also recently commented on BITA. BidaskClub raised Bitauto Holdings Limited from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. ValuEngine raised 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 up 0.11% on Friday, reaching $44.32. 1,478,613 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $36.30 and its 200-day moving average price is $29.60. Bitauto Holdings Limited has a 12 month low of $16.56 and a 12 month high of $45.84. The company’s market capitalization is $3.09 billion.
Bitauto Holdings Limited (NYSE:BITA) last issued its earnings results on Tuesday, August 15th. The information services provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.05). The business had revenue of $320.20 million during the quarter, compared to analyst estimates of $282.86 million. Bitauto Holdings Limited had a negative net margin of 4.76% and a positive return on equity of 3.85%. Bitauto Holdings Limited’s revenue for the quarter was up 52.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. On average, equities analysts anticipate that Bitauto Holdings Limited will post $1.17 EPS for the current year.
WARNING: This article was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another publication, it was stolen and reposted in violation of US & international copyright and trademark laws. The original version of this article can be accessed at https://www.dispatchtribunal.com/2017/09/15/bitauto-holdings-limited-bita-upgraded-to-hold-by-zacks-investment-research.html.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new stake in shares of Bitauto Holdings Limited in the 2nd quarter valued at approximately $250,000. SG Americas Securities LLC grew its stake in shares of Bitauto Holdings Limited by 67.1% in the 1st quarter. SG Americas Securities LLC now owns 10,410 shares of the information services provider’s stock valued at $267,000 after buying an additional 4,179 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Bitauto Holdings Limited in the 1st quarter valued at approximately $315,000. Penserra Capital Management LLC grew its stake in shares of Bitauto Holdings Limited by 236.2% in the 2nd quarter. Penserra Capital Management LLC now owns 40,331 shares of the information services provider’s stock valued at $1,159,000 after buying an additional 28,336 shares in the last quarter. Finally, Formula Growth Ltd. bought a new stake in shares of Bitauto Holdings Limited in the 1st quarter valued at approximately $1,168,000. 19.66% of the stock is owned by institutional investors and hedge funds.
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.
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.