Zacks Investment Research upgraded shares of Bitauto Holdings Limited (NYSE:BITA) from a sell rating to a hold rating in a report released on Friday 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 equities research analysts have also weighed in on BITA. BidaskClub raised Bitauto Holdings Limited from a hold rating to a buy rating in a research report on Thursday, July 13th. ValuEngine raised Bitauto Holdings Limited from a sell rating to a hold rating in a research report on Thursday, August 3rd.

Bitauto Holdings Limited (NYSE:BITA) traded up 0.11% during trading on Friday, hitting $44.32. 1,496,561 shares of the stock traded hands. The company’s market cap is $3.09 billion. Bitauto Holdings Limited has a 12 month low of $16.56 and a 12 month high of $45.84. The company’s 50 day moving average price is $36.71 and its 200 day moving average price is $29.78.

Bitauto Holdings Limited (NYSE:BITA) last issued 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). Bitauto Holdings Limited had a positive return on equity of 3.85% and a negative net margin of 4.76%. The business had revenue of $320.20 million for the quarter, compared to analyst estimates of $282.86 million. During the same period last year, the business posted $0.20 EPS. Bitauto Holdings Limited’s revenue was up 52.9% on a year-over-year basis. On average, equities research analysts anticipate that Bitauto Holdings Limited will post $1.17 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of BITA. Platinum Investment Management Ltd. raised its position in shares of Bitauto Holdings Limited by 315.2% during the 2nd quarter. Platinum Investment Management Ltd. now owns 2,379,526 shares of the information services provider’s stock worth $68,411,000 after acquiring an additional 1,806,426 shares in the last quarter. Hillhouse Capital Management Ltd. acquired a new position in Bitauto Holdings Limited during the second quarter worth approximately $32,315,000. Bamco Inc. NY increased its position in Bitauto Holdings Limited by 74.2% during the second quarter. Bamco Inc. NY now owns 1,275,700 shares of the information services provider’s stock worth $36,676,000 after buying an additional 543,312 shares during the period. UBS Group AG increased its position in Bitauto Holdings Limited by 6,428.0% during the first quarter. UBS Group AG now owns 410,347 shares of the information services provider’s stock worth $10,509,000 after buying an additional 404,061 shares during the period. Finally, Cantillon Capital Management LLC increased its position in Bitauto Holdings Limited by 10.4% during the second quarter. Cantillon Capital Management LLC now owns 3,800,612 shares of the information services provider’s stock worth $109,268,000 after buying an additional 359,377 shares during the period. 19.66% of the stock is currently owned by institutional investors and hedge funds.

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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