BidaskClub lowered shares of Bitauto Holdings Limited (NYSE:BITA) from a strong-buy rating to a buy rating in a research note released on Saturday morning.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Bitauto Holdings Limited from a sell rating to a hold rating in a research report on Friday, July 14th. ValuEngine upgraded Bitauto Holdings Limited from a sell rating to a hold rating in a research report on Thursday, August 3rd.

Shares of Bitauto Holdings Limited (BITA) opened at 45.17 on Friday. Bitauto Holdings Limited has a one year low of $16.56 and a one year high of $54.42. The company’s market cap is $3.15 billion. The firm has a 50-day moving average of $47.20 and a 200 day moving average of $35.27.

Bitauto Holdings Limited (NYSE:BITA) last issued its quarterly earnings results on Tuesday, August 15th. The information services provider reported $0.16 EPS for the quarter, missing the Zacks’ 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 company had revenue of $320.20 million during the quarter, compared to the consensus estimate of $282.86 million. During the same quarter in the previous year, the business posted $0.20 EPS. The firm’s revenue for the quarter was up 52.9% on a year-over-year basis. Equities research analysts anticipate that Bitauto Holdings Limited will post $1.22 EPS for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of BITA. Platinum Investment Management Ltd. increased its position in shares of Bitauto Holdings Limited by 315.2% in the second quarter. Platinum Investment Management Ltd. now owns 2,379,526 shares of the information services provider’s stock worth $68,411,000 after purchasing an additional 1,806,426 shares during the period. Hillhouse Capital Management Ltd. bought a new position in shares of Bitauto Holdings Limited in the second quarter worth $32,315,000. Bamco Inc. NY increased its position in shares of Bitauto Holdings Limited by 74.2% in the second quarter. Bamco Inc. NY now owns 1,275,700 shares of the information services provider’s stock worth $36,676,000 after purchasing an additional 543,312 shares during the period. Cantillon Capital Management LLC increased its position in shares of Bitauto Holdings Limited by 10.4% in 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 purchasing an additional 359,377 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of 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 purchasing an additional 332,279 shares during the period. Institutional investors own 19.94% of the company’s stock.

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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