Bitauto (BITA) Sets New 1-Year Low at $15.37

Shares of Bitauto Hldg Ltd (NYSE:BITA) reached a new 52-week low on Friday . The company traded as low as $15.37 and last traded at $15.42, with a volume of 48051 shares changing hands. The stock had previously closed at $16.06.

A number of research firms recently weighed in on BITA. Zacks Investment Research upgraded Bitauto from a “sell” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Tuesday, February 26th. ValuEngine downgraded Bitauto from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 27th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $19.00 price objective on shares of Bitauto in a report on Thursday, November 29th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $25.20.

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 1.15. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 11.05 and a beta of 1.19.

Bitauto (NYSE:BITA) last issued its quarterly earnings results on Tuesday, March 19th. The information services provider reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. Bitauto had a negative return on equity of 0.42% and a negative net margin of 5.67%. The firm had revenue of $453.70 million during the quarter, compared to the consensus estimate of $425.94 million. During the same period last year, the business posted $0.12 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts expect that Bitauto Hldg Ltd will post 1.75 EPS for the current year.

A number of institutional investors have recently modified their holdings of the business. Northern Trust Corp grew its holdings in Bitauto by 8.5% during the 2nd quarter. Northern Trust Corp now owns 29,643 shares of the information services provider’s stock worth $705,000 after acquiring an additional 2,323 shares during the period. Intercontinental Wealth Advisors LLC bought a new position in shares of Bitauto during the 4th quarter worth about $87,000. Exane Derivatives boosted its position in shares of Bitauto by 71.0% during the 4th quarter. Exane Derivatives now owns 10,841 shares of the information services provider’s stock worth $268,000 after purchasing an additional 4,500 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Bitauto by 45.6% during the 3rd quarter. Jane Street Group LLC now owns 17,734 shares of the information services provider’s stock worth $408,000 after purchasing an additional 5,555 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Bitauto by 449.9% during the 4th quarter. Bank of America Corp DE now owns 12,043 shares of the information services provider’s stock worth $298,000 after purchasing an additional 9,853 shares in the last quarter. Hedge funds and other institutional investors own 36.19% of the company’s stock.

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Bitauto Company Profile (NYSE:BITA)

Bitauto Holdings Limited, through its subsidiaries, provides Internet content and marketing services, and transaction services for the automobile industry in the People's Republic of China. It operates in three segments: Advertising and Subscription Business, Transaction Services Business, and Digital Marketing Solutions Business.

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