BidaskClub Downgrades Bitauto Holdings Limited (BITA) to Buy

BidaskClub downgraded shares of Bitauto Holdings Limited (NYSE:BITA) from a strong-buy rating to a buy rating in a report published on Saturday, October 28th.

A number of other brokerages have also recently weighed in on BITA. Zacks Investment Research upgraded shares of Bitauto Holdings Limited from a sell rating to a hold rating in a research note on Thursday, September 28th. ValuEngine raised shares of Bitauto Holdings Limited from a sell rating to a hold rating in a report on Thursday, August 3rd.

Bitauto Holdings Limited (NYSE BITA) traded down $4.53 during midday trading on Friday, hitting $43.05. 2,657,086 shares of the company were exchanged, compared to its average volume of 859,346. Bitauto Holdings Limited has a twelve month low of $16.56 and a twelve month high of $54.42. The company has a market cap of $3,050.00, a P/E ratio of 239.35 and a beta of 3.17.

Bitauto Holdings Limited (NYSE:BITA) last released its quarterly earnings results on Tuesday, August 15th. The information services provider reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.05). The firm had revenue of $320.20 million for the quarter, compared to analyst estimates of $282.86 million. Bitauto Holdings Limited had a negative net margin of 4.76% and a positive return on equity of 3.85%. The firm’s revenue was up 52.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 EPS. sell-side analysts predict that Bitauto Holdings Limited will post -0.28 earnings per share for the current fiscal year.

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Hedge funds have recently made changes to their positions in the business. Advisors Preferred LLC bought a new position in shares of Bitauto Holdings Limited during the 3rd quarter worth approximately $105,000. BNP Paribas Arbitrage SA grew its stake in shares of Bitauto Holdings Limited by 13,684.2% in the third 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 in the last quarter. Clarkston Capital Partners LLC bought a new position in shares of Bitauto Holdings Limited in the third quarter valued at $223,000. Fox Run Management L.L.C. bought a new position in shares of Bitauto Holdings Limited in the second quarter valued at $250,000. Finally, SG Americas Securities LLC boosted its position in Bitauto Holdings Limited by 67.1% during the first quarter. SG Americas Securities LLC now owns 10,410 shares of the information services provider’s stock worth $267,000 after purchasing an additional 4,179 shares during the period. Hedge funds and other institutional investors own 19.83% 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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