Bitauto Holdings Limited (NYSE:BITA) Upgraded by Zacks Investment Research to Hold

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, 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. “

BITA has been the subject of a number of other reports. HSBC Holdings plc reiterated a “buy” rating and set a $33.00 price target (up from $27.00) on shares of Bitauto Holdings Limited in a report on Wednesday, May 17th. BidaskClub upgraded shares of Bitauto Holdings Limited from a “hold” rating to a “buy” rating in a report on Thursday, July 13th.

Bitauto Holdings Limited (NYSE:BITA) traded up 2.11% during trading on Friday, hitting $30.53. The stock had a trading volume of 462,672 shares. The firm has a 50 day moving average of $29.16 and a 200-day moving average of $25.69. Bitauto Holdings Limited has a 12 month low of $16.56 and a 12 month high of $34.18. The stock’s market cap is $2.35 billion.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Fox Run Management L.L.C. purchased a new position in shares of Bitauto Holdings Limited during the second quarter valued at approximately $250,000. SG Americas Securities LLC boosted its position 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 valued at $267,000 after buying an additional 4,179 shares during the period. ANTIPODES PARTNERS Ltd purchased a new position in shares of Bitauto Holdings Limited during the first quarter valued at approximately $280,000. Penserra Capital Management LLC boosted its position 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 valued at $307,000 after buying an additional 1,953 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Bitauto Holdings Limited during the first quarter valued at approximately $315,000. 19.43% of the stock is currently owned by institutional investors and hedge funds.

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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