Platinum Investment Management Ltd. Raises Holdings in Bitauto Holdings Limited (NYSE:BITA)

Platinum Investment Management Ltd. lifted its stake in Bitauto Holdings Limited (NYSE:BITA) by 315.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,379,526 shares of the information services provider’s stock after acquiring an additional 1,806,426 shares during the period. Bitauto Holdings Limited accounts for 1.9% of Platinum Investment Management Ltd.’s portfolio, making the stock its 17th largest position. Platinum Investment Management Ltd. owned 3.09% of Bitauto Holdings Limited worth $68,411,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cantillon Capital Management LLC increased its position in Bitauto Holdings Limited by 10.4% during the 2nd quarter. Cantillon Capital Management LLC now owns 3,800,612 shares of the information services provider’s stock valued at $109,268,000 after buying an additional 359,377 shares in the last quarter. Bamco Inc. NY increased its position in Bitauto Holdings Limited by 74.2% during the 2nd quarter. Bamco Inc. NY now owns 1,275,700 shares of the information services provider’s stock valued at $36,676,000 after buying an additional 543,312 shares in the last quarter. Hillhouse Capital Management Ltd. acquired a new position in Bitauto Holdings Limited during the 2nd quarter valued at about $32,315,000. Dimensional Fund Advisors LP increased its position in Bitauto Holdings Limited by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 534,870 shares of the information services provider’s stock valued at $15,378,000 after buying an additional 77,591 shares in the last quarter. Finally, UBS Group AG increased its position in Bitauto Holdings Limited by 6,428.0% during the 1st quarter. UBS Group AG now owns 410,347 shares of the information services provider’s stock valued at $10,509,000 after buying an additional 404,061 shares in the last quarter. 19.66% of the stock is owned by hedge funds and other institutional investors.

Shares of Bitauto Holdings Limited (NYSE:BITA) traded down 2.78% on Tuesday, hitting $51.73. The stock had a trading volume of 702,445 shares. The stock has a 50 day moving average price of $43.17 and a 200-day moving average price of $33.16. The company’s market cap is $3.61 billion. Bitauto Holdings Limited has a 12-month low of $16.56 and a 12-month high of $54.42.

Bitauto Holdings Limited (NYSE:BITA) last issued its earnings results on Tuesday, August 15th. The information services provider reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.05). The business had revenue of $320.20 million for the quarter, compared to the consensus estimate of $282.86 million. Bitauto Holdings Limited had a positive return on equity of 3.85% and a negative net margin of 4.76%. The company’s quarterly revenue was up 52.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 earnings per share. On average, equities analysts expect that Bitauto Holdings Limited will post $1.13 earnings per share for the current year.

Several research analysts recently issued reports on the company. BidaskClub lowered Bitauto Holdings Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a research report on Friday, July 14th. Finally, ValuEngine raised Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd.

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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.

Institutional Ownership by Quarter for Bitauto Holdings Limited (NYSE:BITA)

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