Bitauto Holdings Limited (NYSE:BITA) Rating Increased 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, 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. “

Several other analysts also recently issued reports on the stock. BidaskClub downgraded shares of Bitauto Holdings Limited from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. HSBC Holdings plc restated a “buy” rating and issued a $33.00 price objective (up previously from $27.00) on shares of Bitauto Holdings Limited in a research note on Wednesday, May 17th. Finally, ValuEngine upgraded shares of Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd.

Bitauto Holdings Limited (NYSE BITA) opened at 44.32 on Wednesday. The firm’s market cap is $3.09 billion. Bitauto Holdings Limited has a 12-month low of $16.56 and a 12-month high of $45.84. The company’s 50 day moving average is $36.71 and its 200 day moving average is $29.78.

Bitauto Holdings Limited (NYSE:BITA) last released 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). The company 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%. The firm’s quarterly revenue was up 52.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.20 EPS. On average, equities analysts anticipate that Bitauto Holdings Limited will post $1.17 earnings per share for the current year.

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Several hedge funds have recently made changes to their positions in the company. Platinum Investment Management Ltd. increased 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 purchasing an additional 1,806,426 shares in the last quarter. State Street Corp increased its position in shares of Bitauto Holdings Limited by 1.8% during the 2nd quarter. State Street Corp now owns 117,280 shares of the information services provider’s stock worth $3,372,000 after purchasing an additional 2,080 shares in the last quarter. Hillhouse Capital Management Ltd. acquired a new stake in shares of Bitauto Holdings Limited during the 2nd quarter worth about $32,315,000. Macquarie Group Ltd. increased its position in shares of Bitauto Holdings Limited by 76.6% during the 2nd quarter. Macquarie Group Ltd. now owns 375,000 shares of the information services provider’s stock worth $10,781,000 after purchasing an additional 162,600 shares in the last quarter. Finally, UBS Oconnor LLC acquired a new stake in shares of Bitauto Holdings Limited during the 2nd quarter worth about $4,571,000. Institutional investors own 19.66% of the company’s stock.

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.

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