Zacks Investment Research Upgrades Bitauto Holdings Limited (BITA) to “Hold”

Bitauto Holdings Limited (NYSE:BITA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “

Other equities research analysts have also issued research reports about the company. BidaskClub lowered Bitauto Holdings Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. ValuEngine upgraded Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd.

Bitauto Holdings Limited (NYSE BITA) opened at 44.32 on Friday. The stock’s 50 day moving average price is $36.71 and its 200 day moving average price is $29.78. The firm’s market cap is $3.09 billion. Bitauto Holdings Limited has a 52 week low of $16.56 and a 52 week high of $45.84.

Bitauto Holdings Limited (NYSE:BITA) last issued its quarterly earnings data 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 firm had revenue of $320.20 million for the quarter, compared to the consensus estimate 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 revenue was up 52.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 EPS. On average, equities research analysts predict that Bitauto Holdings Limited will post $1.17 EPS for the current year.

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Institutional investors and hedge funds have recently made changes to their positions in the business. Fox Run Management L.L.C. acquired a new position in Bitauto Holdings Limited during the 2nd quarter worth about $250,000. SG Americas Securities LLC lifted its holdings in Bitauto Holdings Limited by 67.1% during the 1st quarter. SG Americas Securities LLC now owns 10,410 shares of the information services provider’s stock worth $267,000 after buying an additional 4,179 shares during the period. Jane Street Group LLC acquired a new position in Bitauto Holdings Limited during the 1st quarter worth about $315,000. Penserra Capital Management LLC lifted its holdings in Bitauto Holdings Limited by 236.2% during the 2nd quarter. Penserra Capital Management LLC now owns 40,331 shares of the information services provider’s stock worth $1,159,000 after buying an additional 28,336 shares during the period. Finally, Formula Growth Ltd. acquired a new position in Bitauto Holdings Limited during the 1st quarter worth about $1,168,000. 19.66% of the stock is currently owned by hedge funds and other 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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