Bitauto Holdings Limited (NYSE:BITA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, August 30th.
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 subject of a number of other research reports. BidaskClub lowered Bitauto Holdings Limited from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. HSBC Holdings plc reissued a “buy” rating and issued a $33.00 target price (up previously from $27.00) on shares of Bitauto Holdings Limited in a report on Wednesday, May 17th. Finally, ValuEngine raised Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd.
Shares of Bitauto Holdings Limited (BITA) traded up 8.82% during midday trading on Wednesday, reaching $44.30. The company had a trading volume of 2,198,031 shares. The company’s market capitalization is $3.09 billion. Bitauto Holdings Limited has a one year low of $16.56 and a one year high of $44.78. The company has a 50-day moving average price of $36.30 and a 200 day moving average price of $29.60.
Bitauto Holdings Limited (NYSE:BITA) last announced its quarterly earnings data on Tuesday, August 15th. The information services provider reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.05). The company had revenue of $320.20 million for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $0.20 EPS. Equities analysts anticipate that Bitauto Holdings Limited will post $1.17 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Fox Run Management L.L.C. bought a new stake in shares of Bitauto Holdings Limited in the second quarter worth $250,000. SG Americas Securities LLC grew its holdings in shares of 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 acquiring an additional 4,179 shares during the period. Penserra Capital Management LLC grew its holdings 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 acquiring an additional 1,953 shares during the period. Jane Street Group LLC bought a new stake in shares of Bitauto Holdings Limited in the first quarter worth $315,000. Finally, Formula Growth Ltd. bought a new stake in shares of Bitauto Holdings Limited in the first quarter worth $1,168,000. 19.66% of the stock is owned by institutional investors.
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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