Bitauto (BITA) Coverage Initiated at Morgan Stanley

Stock analysts at Morgan Stanley started coverage on shares of Bitauto (NYSE:BITA) in a note issued to investors on Wednesday. The brokerage set an “overweight” rating on the information services provider’s stock.

A number of other equities analysts have also recently commented on the company. Zacks Investment Research cut Bitauto from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. BidaskClub cut Bitauto from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 28th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $44.50.

Bitauto (NYSE BITA) traded down $0.74 during trading on Wednesday, reaching $29.17. The company had a trading volume of 883,000 shares, compared to its average volume of 970,383. Bitauto has a fifty-two week low of $16.56 and a fifty-two week high of $54.42.

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Bitauto by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 534,870 shares of the information services provider’s stock worth $15,378,000 after acquiring an additional 77,591 shares during the period. Macquarie Group Ltd. boosted its holdings in shares of Bitauto by 22.5% during the third quarter. Macquarie Group Ltd. now owns 459,200 shares of the information services provider’s stock worth $20,517,000 after acquiring an additional 84,200 shares during the period. First Trust Advisors LP boosted its holdings in shares of Bitauto by 16.9% during the third quarter. First Trust Advisors LP now owns 79,723 shares of the information services provider’s stock worth $3,562,000 after acquiring an additional 11,554 shares during the period. Aperio Group LLC bought a new stake in shares of Bitauto during the third quarter worth approximately $296,000. Finally, Carmignac Gestion boosted its holdings in shares of Bitauto by 763.0% during the third quarter. Carmignac Gestion now owns 2,154,660 shares of the information services provider’s stock worth $96,270,000 after acquiring an additional 1,904,987 shares during the period. 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.