Bitauto Holdings Ltd. (NYSE:BITA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Bitauto Holdings Limited is engaged in providing internet content and marketing services for automotive industry in China. Its bitauto.com and ucar.cn websites provide consumers new and used automobile pricing information, specifications, reviews and consumer feedback. The Company operates in three segments- bitauto.com business, ucar.cn business and digital marketing solutions business. Bitauto.com business provides subscription services to new automobile dealers and advertising services to dealers and automakers on bitauto.com website. Bitauto’s ucar.cn business provides listing and advertising services to used automobile dealers on ucar.cn website. The Company’s digital marketing solutions business provides automakers with digital marketing solutions, including website creation and maintenance, online public relations, online marketing campaigns and advertising agent services. Bitauto Holdings Limited is headquartered in Beijing, the People’s Republic of China. “

Other research analysts have also issued research reports about the stock. Macquarie started coverage on shares of Bitauto Holdings in a report on Friday, July 8th. They issued an “outperform” rating and a $34.00 price objective for the company. JPMorgan Chase & Co. started coverage on shares of Bitauto Holdings in a report on Wednesday, August 31st. They issued an “overweight” rating and a $35.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Bitauto Holdings has an average rating of “Buy” and an average price target of $32.00.

Shares of Bitauto Holdings (NYSE:BITA) traded up 1.29% during mid-day trading on Tuesday, hitting $29.90. 299,886 shares of the stock were exchanged. Bitauto Holdings has a 12-month low of $16.09 and a 12-month high of $37.31. The stock’s market capitalization is $1.86 billion. The stock’s 50 day moving average price is $27.44 and its 200-day moving average price is $25.81.

Bitauto Holdings (NYSE:BITA) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by $0.09. The business earned $209.40 million during the quarter, compared to the consensus estimate of $204.27 million. Bitauto Holdings had a negative net margin of 11.77% and a positive return on equity of 3.24%. The firm’s quarterly revenue was up 29.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 EPS. On average, equities research analysts expect that Bitauto Holdings will post $0.87 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Contrarius Investment Management Ltd increased its stake in shares of Bitauto Holdings by 60.4% in the second quarter. Contrarius Investment Management Ltd now owns 2,388,165 shares of the company’s stock valued at $64,385,000 after buying an additional 899,287 shares during the period. FMR LLC increased its stake in shares of Bitauto Holdings by 17.9% in the second quarter. FMR LLC now owns 2,578,760 shares of the company’s stock valued at $69,524,000 after buying an additional 392,442 shares during the period. Greenwoods Asset Management Ltd increased its stake in shares of Bitauto Holdings by 14.2% in the first quarter. Greenwoods Asset Management Ltd now owns 2,856,847 shares of the company’s stock valued at $70,821,000 after buying an additional 355,847 shares during the period. Tairen Capital Ltd bought a new stake in shares of Bitauto Holdings during the second quarter valued at approximately $4,795,000. Finally, GMT Capital Corp bought a new stake in shares of Bitauto Holdings during the second quarter valued at approximately $2,691,000. 20.89% of the stock is owned by institutional investors.

About Bitauto Holdings

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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