Bitauto (BITA) Trading Down 5.7%
Shares of Bitauto Holdings Limited (NYSE:BITA) traded down 5.7% during mid-day trading on Wednesday . The company traded as low as $28.90 and last traded at $29.09. 1,493,633 shares were traded during mid-day trading, an increase of 54% from the average session volume of 969,736 shares. The stock had previously closed at $30.84.
A number of analysts have issued reports on the stock. BidaskClub cut shares of Bitauto from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 26th. Zacks Investment Research upgraded shares of Bitauto from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th.
Large investors have recently added to or reduced their stakes in the company. Advisors Preferred LLC bought a new position in shares of Bitauto in the third quarter valued at approximately $105,000. BNP Paribas Arbitrage SA raised its position in shares of Bitauto 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 purchasing an additional 2,600 shares during the period. Clarkston Capital Partners LLC bought a new position in shares of Bitauto in the third quarter valued at approximately $223,000. Aperio Group LLC bought a new position in shares of Bitauto in the third quarter valued at approximately $296,000. Finally, SG Americas Securities LLC raised its position in shares of Bitauto by 9.6% in the second quarter. SG Americas Securities LLC now owns 11,409 shares of the information services provider’s stock valued at $328,000 after purchasing an additional 999 shares during the period. 27.82% of the stock is currently owned by institutional investors.
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.
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