Bitauto Holdings Limited (BITA) Stake Increased by First Trust Advisors LP
First Trust Advisors LP grew its stake in shares of Bitauto Holdings Limited (NYSE:BITA) by 3.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,169 shares of the information services provider’s stock after purchasing an additional 2,396 shares during the quarter. First Trust Advisors LP owned approximately 0.09% of Bitauto Holdings Limited worth $1,960,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Fox Run Management L.L.C. purchased a new stake in Bitauto Holdings Limited in the second quarter worth about $250,000. Platinum Investment Management Ltd. purchased a new stake in Bitauto Holdings Limited in the first quarter worth about $14,677,000. Jane Street Group LLC purchased a new stake in Bitauto Holdings Limited in the first quarter worth about $315,000. UBS Group AG lifted its stake in Bitauto Holdings Limited by 6,428.0% in the first quarter. UBS Group AG now owns 410,347 shares of the information services provider’s stock worth $10,509,000 after acquiring an additional 404,061 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Bitauto Holdings Limited by 265.8% in the first quarter. Dimensional Fund Advisors LP now owns 457,279 shares of the information services provider’s stock worth $11,706,000 after acquiring an additional 332,279 shares during the period. 19.66% of the stock is owned by hedge funds and other institutional investors.
Bitauto Holdings Limited (BITA) opened at 38.60 on Tuesday. The company’s market capitalization is $2.69 billion. Bitauto Holdings Limited has a one year low of $16.56 and a one year high of $41.64. The firm has a 50-day moving average of $35.32 and a 200-day moving average of $29.20.
Bitauto Holdings Limited (NYSE:BITA) last posted its earnings results on Tuesday, August 15th. The information services provider reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.21 by $0.05. The business had revenue of $320.20 million for the quarter, compared to analysts’ expectations of $282.86 million. Bitauto Holdings Limited had a positive return on equity of 3.85% and a negative net margin of 4.76%. Bitauto Holdings Limited’s revenue for the quarter was up 52.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 EPS. On average, analysts anticipate that Bitauto Holdings Limited will post $1.17 earnings per share for the current year.
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A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. HSBC Holdings plc reiterated a “buy” rating and issued a $33.00 target price (up from $27.00) on shares of Bitauto Holdings Limited in a report on Wednesday, May 17th. ValuEngine upgraded shares of Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, BidaskClub upgraded shares of Bitauto Holdings Limited from a “hold” rating to a “buy” rating in a report on Monday, July 31st.
About Bitauto Holdings Limited
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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