Zacks Investment Research upgraded shares of Bitauto Holdings Limited (NYSE:BITA) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

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. “

Several other research firms have also commented on BITA. BidaskClub upgraded shares of Bitauto Holdings Limited from a buy rating to a strong-buy rating in a research note on Thursday, August 10th. ValuEngine upgraded shares of Bitauto Holdings Limited from a sell rating to a hold rating in a research note on Thursday, August 3rd. Finally, HSBC Holdings plc reiterated a buy rating and issued a $33.00 price objective (up previously from $27.00) on shares of Bitauto Holdings Limited in a research note on Wednesday, May 17th.

Bitauto Holdings Limited (NYSE BITA) opened at 38.14 on Wednesday. The stock’s market cap is $2.66 billion. The firm has a 50-day moving average price of $35.17 and a 200-day moving average price of $28.98. Bitauto Holdings Limited has a 52 week low of $16.56 and a 52 week high of $41.64.

Bitauto Holdings Limited (NYSE:BITA) last posted its quarterly earnings data on Tuesday, August 15th. The information services provider reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.05. The firm had revenue of $320.20 million during the quarter, compared to analysts’ expectations of $282.86 million. Bitauto Holdings Limited had a negative net margin of 4.76% and a positive return on equity of 3.85%. The company’s quarterly revenue was up 52.9% on a year-over-year basis. During the same quarter last year, the business posted $0.20 EPS. On average, equities research analysts predict that Bitauto Holdings Limited will post $1.15 EPS for the current year.

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Institutional investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new position in shares of Bitauto Holdings Limited during the 2nd quarter valued at approximately $250,000. SG Americas Securities LLC grew its position in shares of Bitauto Holdings Limited by 67.1% during the 1st quarter. SG Americas Securities LLC now owns 10,410 shares of the information services provider’s stock valued at $267,000 after acquiring an additional 4,179 shares during the period. Penserra Capital Management LLC grew its position in shares of Bitauto Holdings Limited by 19.4% during the 1st quarter. Penserra Capital Management LLC now owns 11,995 shares of the information services provider’s stock valued at $307,000 after acquiring an additional 1,953 shares during the period. Jane Street Group LLC bought a new position in shares of Bitauto Holdings Limited during the 1st quarter valued at approximately $315,000. Finally, Formula Growth Ltd. bought a new position in shares of Bitauto Holdings Limited during the 1st quarter valued at approximately $1,168,000. 19.66% of the stock is owned by hedge funds and other institutional investors.

Bitauto Holdings Limited 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.

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