Bank of America Corp DE grew its position in Bitauto Hldg Ltd (NYSE:BITA) by 2,130.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 88,964 shares of the information services provider’s stock after purchasing an additional 84,975 shares during the period. Bank of America Corp DE owned about 0.12% of Bitauto worth $2,116,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of BITA. Northern Trust Corp raised its position in shares of Bitauto by 10.5% during the 1st quarter. Northern Trust Corp now owns 27,320 shares of the information services provider’s stock worth $577,000 after purchasing an additional 2,599 shares during the last quarter. BlackRock Inc. raised its position in shares of Bitauto by 10.9% during the 1st quarter. BlackRock Inc. now owns 398,236 shares of the information services provider’s stock worth $8,422,000 after purchasing an additional 39,231 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Bitauto by 332.1% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,367 shares of the information services provider’s stock worth $113,000 after purchasing an additional 4,125 shares during the last quarter. Millennium Management LLC raised its position in shares of Bitauto by 2,168.7% during the 1st quarter. Millennium Management LLC now owns 372,151 shares of the information services provider’s stock worth $7,871,000 after purchasing an additional 355,747 shares during the last quarter. Finally, Baillie Gifford & Co. acquired a new position in shares of Bitauto during the 2nd quarter worth about $1,382,000. Institutional investors own 35.52% of the company’s stock.
A number of research firms have commented on BITA. Zacks Investment Research upgraded shares of Bitauto from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. MED began coverage on shares of Bitauto in a report on Monday, October 1st. They issued a “hold” rating for the company. Citigroup downgraded shares of Bitauto from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a report on Wednesday, August 15th. ValuEngine upgraded shares of Bitauto from a “strong sell” rating to a “sell” rating in a report on Monday, October 22nd. Finally, JPMorgan Chase & Co. began coverage on shares of Bitauto in a report on Wednesday, August 29th. They issued an “overweight” rating and a $38.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Bitauto has a consensus rating of “Hold” and a consensus target price of $27.00.
BITA stock opened at $16.32 on Friday. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -4.77 and a beta of 2.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.16 and a quick ratio of 1.16. Bitauto Hldg Ltd has a 12 month low of $16.09 and a 12 month high of $50.57.
Bitauto (NYSE:BITA) last released its quarterly earnings data on Wednesday, August 22nd. The information services provider reported $0.01 EPS for the quarter. The company had revenue of $402.35 million during the quarter, compared to the consensus estimate of $398.80 million. Bitauto had a negative net margin of 15.08% and a negative return on equity of 8.60%. On average, sell-side analysts expect that Bitauto Hldg Ltd will post 0.83 earnings per share for the current year.
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Bitauto Holdings Limited, through its subsidiaries, provides Internet content and marketing services, and transaction services for the automobile industry in the People's Republic of China. It operates in three segments: Advertising and Subscription Business, Transaction Services Business, and Digital Marketing Solutions Business.
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