Zacks Investment Research upgraded shares of Bitauto Holdings Limited (NYSE:BITA) from a sell rating to a hold rating in a report issued on Friday.
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. “
Other equities analysts have also recently issued research reports about the company. BidaskClub raised Bitauto Holdings Limited from a hold rating to a buy rating in a report on Thursday. HSBC Holdings plc reaffirmed a buy rating and issued a $33.00 price target (up previously from $27.00) on shares of Bitauto Holdings Limited in a report on Wednesday, May 17th.
Shares of Bitauto Holdings Limited (NYSE:BITA) traded down 0.43% during midday trading on Friday, reaching $30.22. The company had a trading volume of 197,974 shares. The firm’s 50 day moving average price is $29.04 and its 200-day moving average price is $24.26. The stock’s market capitalization is $2.32 billion. Bitauto Holdings Limited has a 1-year low of $16.56 and a 1-year high of $34.18.
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Institutional investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new position in Bitauto Holdings Limited during the second quarter worth $250,000. SG Americas Securities LLC boosted its position in Bitauto Holdings Limited by 67.1% in the first quarter. SG Americas Securities LLC now owns 10,410 shares of the information services provider’s stock worth $267,000 after buying an additional 4,179 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in Bitauto Holdings Limited during the first quarter worth $280,000. Penserra Capital Management LLC boosted its position in Bitauto Holdings Limited by 19.4% in the first quarter. Penserra Capital Management LLC now owns 11,995 shares of the information services provider’s stock worth $307,000 after buying an additional 1,953 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Bitauto Holdings Limited during the first quarter worth $315,000. 19.59% of the stock is owned by institutional investors.
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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