Morgan Stanley Has $573,000 Stock Position in Bitauto Hldg Ltd (NYSE:BITA)

Morgan Stanley lowered its stake in shares of Bitauto Hldg Ltd (NYSE:BITA) by 72.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,740 shares of the information services provider’s stock after selling 143,371 shares during the period. Morgan Stanley’s holdings in Bitauto were worth $573,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Invesco Ltd. raised its stake in shares of Bitauto by 10.3% during the 2nd quarter. Invesco Ltd. now owns 6,302,696 shares of the information services provider’s stock worth $65,989,000 after purchasing an additional 589,306 shares in the last quarter. Vanguard Group Inc. raised its stake in Bitauto by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,016,835 shares of the information services provider’s stock valued at $10,646,000 after acquiring an additional 37,120 shares during the period. FMR LLC bought a new stake in Bitauto in the 1st quarter valued at $13,942,000. BlackRock Inc. raised its stake in Bitauto by 12.5% in the 2nd quarter. BlackRock Inc. now owns 598,800 shares of the information services provider’s stock valued at $6,269,000 after acquiring an additional 66,420 shares during the period. Finally, Parametric Portfolio Associates LLC bought a new stake in Bitauto in the 2nd quarter valued at $1,467,000. Institutional investors own 23.49% of the company’s stock.

BITA opened at $15.36 on Friday. Bitauto Hldg Ltd has a 1-year low of $9.46 and a 1-year high of $25.34. The stock’s fifty day simple moving average is $15.20 and its 200 day simple moving average is $12.47. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.11 billion, a PE ratio of 10.97 and a beta of 0.73.

Bitauto (NYSE:BITA) last posted its quarterly earnings results on Thursday, September 5th. The information services provider reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.28). Bitauto had a negative net margin of 4.86% and a positive return on equity of 2.21%. The business had revenue of $406.60 million during the quarter, compared to the consensus estimate of $388.27 million. During the same quarter last year, the company posted $0.49 EPS. The firm’s revenue was up 8.5% on a year-over-year basis. Equities analysts forecast that Bitauto Hldg Ltd will post 1.03 earnings per share for the current year.

BITA has been the topic of a number of research analyst reports. Zacks Investment Research cut Bitauto from a “hold” rating to a “sell” rating in a research note on Tuesday, September 10th. Bank of America dropped their price target on Bitauto from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, ValuEngine upgraded Bitauto from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Bitauto currently has a consensus rating of “Hold” and a consensus price target of $19.00.

Bitauto Profile

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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Institutional Ownership by Quarter for Bitauto (NYSE:BITA)

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