ValuEngine lowered shares of Bitauto (NYSE:BITA) from a hold rating to a sell rating in a research report released on Friday.

BITA has been the subject of several other research reports. BidaskClub lowered shares of Bitauto from a strong-buy rating to a buy rating in a research report on Saturday, October 28th. Zacks Investment Research raised shares of Bitauto from a sell rating to a hold rating in a research report on Wednesday, August 30th. Finally, Morgan Stanley initiated coverage on shares of Bitauto in a research report on Wednesday. They issued an overweight rating for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $44.50.

Shares of Bitauto (NYSE:BITA) traded down $0.15 on Friday, hitting $29.77. 1,082,347 shares of the stock were exchanged, compared to its average volume of 2,150,686. Bitauto has a 1-year low of $16.76 and a 1-year high of $54.42.

A number of large investors have recently bought and sold shares of BITA. California Public Employees Retirement System grew its stake in Bitauto by 24.8% during the third quarter. California Public Employees Retirement System now owns 72,776 shares of the information services provider’s stock worth $3,252,000 after buying an additional 14,476 shares during the last quarter. Bamco Inc. NY grew its stake in Bitauto by 17.1% during the third quarter. Bamco Inc. NY now owns 1,494,080 shares of the information services provider’s stock worth $66,755,000 after buying an additional 218,380 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Bitauto during the third quarter worth about $351,000. Nomura Asset Management Co. Ltd. bought a new stake in Bitauto during the third quarter worth about $956,000. Finally, Carmignac Gestion grew its stake in Bitauto by 763.0% during the third quarter. Carmignac Gestion now owns 2,154,660 shares of the information services provider’s stock worth $96,270,000 after buying an additional 1,904,987 shares during the last quarter. 27.82% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This report was posted by Watch List News and is the property of of Watch List News. If you are reading this report on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The original version of this report can be viewed at https://www.watchlistnews.com/bitauto-bita-downgraded-by-valuengine-to-sell/1768303.html.

Bitauto 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.

Receive News & Ratings for Bitauto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bitauto and related companies with MarketBeat.com's FREE daily email newsletter.