Bitauto Hldg Ltd (BITA) Receives $33.00 Average PT from Analysts
Shares of Bitauto Hldg Ltd (NYSE:BITA) have received a consensus rating of “Hold” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $33.00.
BITA has been the subject of several research reports. BidaskClub upgraded shares of Bitauto from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Zacks Investment Research upgraded shares of Bitauto from a “sell” rating to a “buy” rating and set a $56.00 target price for the company in a report on Tuesday, October 24th. Finally, Morgan Stanley initiated coverage on shares of Bitauto in a report on Wednesday. They issued an “overweight” rating for the company.
Institutional investors have recently bought and sold shares of the stock. Advisors Preferred LLC acquired a new stake in Bitauto in the 3rd quarter valued at approximately $105,000. BNP Paribas Arbitrage SA boosted its position in Bitauto by 13,684.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,619 shares of the information services provider’s stock valued at $117,000 after buying an additional 2,600 shares during the period. Clarkston Capital Partners LLC purchased a new position in Bitauto in the 3rd quarter valued at approximately $223,000. Aperio Group LLC purchased a new position in Bitauto in the 3rd quarter valued at approximately $296,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Bitauto in the 3rd quarter valued at approximately $351,000. Hedge funds and other institutional investors own 27.82% of the company’s stock.
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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