Bitauto Holdings Limited (BITA) Cut to Buy at BidaskClub
Bitauto Holdings Limited (NYSE:BITA) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.
Several other equities research analysts have also issued reports on the company. Zacks Investment Research raised Bitauto Holdings Limited from a “sell” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Tuesday. ValuEngine raised 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 47.68 on Friday. Bitauto Holdings Limited has a 52-week low of $16.56 and a 52-week high of $54.42. The stock’s market capitalization is $3.33 billion. The company has a 50-day moving average of $46.19 and a 200-day moving average of $34.61.
Bitauto Holdings Limited (NYSE:BITA) last posted its quarterly earnings results on Tuesday, August 15th. The information services provider reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.05). The firm had revenue of $320.20 million for 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 period in the prior year, the company posted $0.20 earnings per share. Equities research analysts expect that Bitauto Holdings Limited will post $1.22 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of BITA. Platinum Investment Management Ltd. increased its position in 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 worth $68,411,000 after buying an additional 1,806,426 shares during the period. Hillhouse Capital Management Ltd. acquired a new stake in Bitauto Holdings Limited in the second quarter worth $32,315,000. Bamco Inc. NY increased its position in 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 worth $36,676,000 after buying an additional 543,312 shares during the period. Cantillon Capital Management LLC increased its position in 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 worth $109,268,000 after buying an additional 359,377 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Bitauto Holdings Limited by 265.8% in the first quarter. Dimensional Fund Advisors LP now owns 457,279 shares of the information services provider’s stock worth $11,706,000 after buying an additional 332,279 shares during the period. 19.93% 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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