River & Mercantile Asset Management LLP trimmed its position in Bitauto Hldg Ltd (NYSE:BITA) by 2.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 250,055 shares of the information services provider’s stock after selling 5,647 shares during the period. River & Mercantile Asset Management LLP owned about 0.35% of Bitauto worth $5,753,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of BITA. Exane Derivatives grew its position in Bitauto by 214.4% in the 3rd quarter. Exane Derivatives now owns 6,341 shares of the information services provider’s stock worth $144,000 after purchasing an additional 4,324 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in Bitauto in the 3rd quarter worth about $184,000. Public Employees Retirement System of Ohio grew its position in Bitauto by 36.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,800 shares of the information services provider’s stock worth $257,000 after purchasing an additional 2,900 shares in the last quarter. Jane Street Group LLC bought a new stake in Bitauto in the 2nd quarter worth about $290,000. Finally, Trexquant Investment LP bought a new stake in Bitauto in the 2nd quarter worth about $428,000. 37.18% of the stock is owned by institutional investors and hedge funds.
BITA opened at $19.08 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -5.58 and a beta of 2.74. Bitauto Hldg Ltd has a twelve month low of $15.61 and a twelve month high of $39.54.
Bitauto (NYSE:BITA) last released its earnings results on Wednesday, November 28th. The information services provider reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.53). The company had revenue of $396.70 million during the quarter, compared to analysts’ expectations of $388.27 million. Bitauto had a negative net margin of 8.89% and a negative return on equity of 4.56%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 earnings per share. As a group, research analysts anticipate that Bitauto Hldg Ltd will post 0.83 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Bitauto from a “sell” rating to a “hold” rating in a research report on Thursday, August 30th. MED began coverage on shares of Bitauto in a research note on Monday, October 1st. They issued a “hold” rating on the stock. ValuEngine cut shares of Bitauto from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 27th. JPMorgan Chase & Co. began coverage on shares of Bitauto in a research note on Wednesday, August 29th. They issued an “overweight” rating and a $38.00 target price on the stock. Finally, Macquarie dropped their target price on shares of Bitauto from $29.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, August 23rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Bitauto currently has an average rating of “Hold” and an average target price of $25.40.
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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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