Bitauto Holdings Limited (NYSE:BITA) released its quarterly earnings results on Tuesday. The information services provider reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.21 by $0.05, Morningstar.com reports. The company had revenue of $320.20 million during the quarter, compared to the consensus estimate of $282.86 million. Bitauto Holdings Limited had a negative net margin of 5.11% and a positive return on equity of 3.28%. The business’s revenue was up 52.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 EPS.

Bitauto Holdings Limited (BITA) traded down 3.87% during mid-day trading on Tuesday, reaching $37.76. 728,435 shares of the company traded hands. The firm’s market capitalization is $2.90 billion. Bitauto Holdings Limited has a 12-month low of $16.56 and a 12-month high of $40.63. The company’s 50 day moving average price is $31.33 and its 200 day moving average price is $26.84.

A number of institutional investors have recently made changes to their positions in BITA. Platinum Investment Management Ltd. increased its position in shares of Bitauto Holdings Limited by 315.2% in the second quarter. Platinum Investment Management Ltd. now owns 2,379,526 shares of the information services provider’s stock valued at $68,411,000 after buying an additional 1,806,426 shares during the period. Hillhouse Capital Management Ltd. acquired a new position in shares of Bitauto Holdings Limited during the second quarter valued at approximately $32,315,000. Pictet Asset Management Ltd. acquired a new position in shares of Bitauto Holdings Limited during the first quarter valued at approximately $24,184,000. Bamco Inc. NY increased its position in shares of Bitauto Holdings Limited by 74.2% in the second quarter. Bamco Inc. NY now owns 1,275,700 shares of the information services provider’s stock valued at $36,676,000 after buying an additional 543,312 shares during the period. Finally, UBS Group AG increased its position in shares of Bitauto Holdings Limited by 6,428.0% in the first quarter. UBS Group AG now owns 410,347 shares of the information services provider’s stock valued at $10,509,000 after buying an additional 404,061 shares during the period. 18.50% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This story was reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another site, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The original version of this story can be read at https://www.americanbankingnews.com/2017/08/15/bitauto-holdings-limited-bita-issues-quarterly-earnings-results-misses-expectations-by-0-05-eps.html.

Several analysts recently weighed in on BITA shares. Zacks Investment Research upgraded shares of Bitauto Holdings Limited from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a report on Thursday, May 11th. HSBC Holdings plc reiterated a “buy” rating and issued a $33.00 price target (up previously 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. Finally, ValuEngine upgraded shares of Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $34.00.

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.

Earnings History for Bitauto Holdings Limited (NYSE:BITA)

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.