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

Several other analysts also recently commented on BITA. BidaskClub upgraded shares of Bitauto Holdings Limited from a “hold” rating to a “buy” rating in a report on Friday, September 8th. ValuEngine upgraded shares of Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd.

Bitauto Holdings Limited (NYSE:BITA) traded up 0.11% during midday trading on Friday, hitting $44.32. 1,478,613 shares of the stock were exchanged. The firm’s market capitalization is $3.09 billion. Bitauto Holdings Limited has a one year low of $16.56 and a one year high of $45.84. 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 results 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 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 business’s revenue was up 52.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share. Equities analysts anticipate that Bitauto Holdings Limited will post $1.17 EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cantillon Capital Management LLC raised its holdings in shares of Bitauto Holdings Limited by 10.4% in the second quarter. Cantillon Capital Management LLC now owns 3,800,612 shares of the information services provider’s stock valued at $109,268,000 after purchasing an additional 359,377 shares during the last quarter. Greenwoods Asset Management Ltd raised its holdings in shares of Bitauto Holdings Limited by 14.2% in the first quarter. Greenwoods Asset Management Ltd now owns 2,856,847 shares of the information services provider’s stock valued at $70,821,000 after purchasing an additional 355,847 shares during the last quarter. Contrarius Investment Management Ltd raised its holdings in shares of Bitauto Holdings Limited by 60.4% in the second quarter. Contrarius Investment Management Ltd now owns 2,388,165 shares of the information services provider’s stock valued at $64,385,000 after purchasing an additional 899,287 shares during the last quarter. Platinum Investment Management Ltd. raised its holdings 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 purchasing an additional 1,806,426 shares during the last quarter. Finally, Vontobel Asset Management raised its holdings in shares of Bitauto Holdings Limited by 4.1% in the fourth quarter. Vontobel Asset Management now owns 2,350,578 shares of the information services provider’s stock valued at $67,270,000 after purchasing an additional 92,497 shares during the last quarter. 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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