Investment analysts at Citigroup began coverage on shares of Bitauto (NYSE:BITA) in a note issued to investors on Tuesday. The firm set a “buy” rating on the information services provider’s stock.
BITA has been the topic of a number of other research reports. BidaskClub upgraded shares of Bitauto from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 5th. Zacks Investment Research upgraded shares of Bitauto from a “sell” rating to a “hold” rating in a report on Friday, September 15th. ValuEngine cut shares of Bitauto from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Finally, Morgan Stanley assumed coverage on shares of Bitauto in a report on Wednesday, December 13th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $44.50.
Bitauto (NYSE BITA) traded up $0.16 during trading hours on Tuesday, hitting $31.80. 364,500 shares of the stock were exchanged, compared to its average volume of 960,543. Bitauto has a 1 year low of $18.04 and a 1 year high of $54.42. The stock has a market capitalization of $2,280.89, a PE ratio of -13.77 and a beta of 3.04.
Several large investors have recently bought and sold shares of the company. Platinum Investment Management Ltd. lifted its position in Bitauto by 315.2% during 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 period. Carmignac Gestion lifted its position in Bitauto by 763.0% during the third quarter. Carmignac Gestion now owns 2,154,660 shares of the information services provider’s stock valued at $96,270,000 after purchasing an additional 1,904,987 shares during the period. Bamco Inc. NY lifted its position in Bitauto by 17.1% during the third quarter. Bamco Inc. NY now owns 1,494,080 shares of the information services provider’s stock valued at $66,755,000 after purchasing an additional 218,380 shares during the period. Hillhouse Capital Management Ltd. bought a new position in Bitauto during the second quarter valued at approximately $32,315,000. Finally, Dimensional Fund Advisors LP lifted its position in Bitauto by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 534,870 shares of the information services provider’s stock valued at $15,378,000 after purchasing an additional 77,591 shares during the period. Hedge funds and other institutional investors own 27.82% of the company’s stock.
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Bitauto 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.
