Bitauto Holdings Limited (NYSE:BITA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Bitauto Holdings Limited is engaged in providing internet content and marketing services for automotive industry in China. Its bitauto.com and ucar.cn websites provide consumers new and used automobile pricing information, specifications, reviews and consumer feedback. The Company operates in three segments- bitauto.com business, ucar.cn business and digital marketing solutions business. Bitauto.com business provides subscription services to new automobile dealers and advertising services to dealers and automakers on bitauto.com website. Bitauto’s ucar.cn business provides listing and advertising services to used automobile dealers on ucar.cn website. The Company’s digital marketing solutions business provides automakers with digital marketing solutions, including website creation and maintenance, online public relations, online marketing campaigns and advertising agent services. Bitauto Holdings Limited is headquartered in Beijing, the People’s Republic of China. “

BITA has been the topic of several other research reports. HSBC Holdings plc reiterated a “buy” rating and issued a $33.00 price objective (up previously from $27.00) on shares of Bitauto Holdings Limited in a research note on Wednesday, May 17th. ValuEngine upgraded shares of Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, BidaskClub upgraded shares of Bitauto Holdings Limited from a “hold” rating to a “buy” rating in a research note on Monday, July 31st.

Shares of Bitauto Holdings Limited (NYSE BITA) opened at 35.80 on Wednesday. Bitauto Holdings Limited has a 12 month low of $16.56 and a 12 month high of $41.64. The firm has a 50-day moving average of $34.10 and a 200 day moving average of $28.35. The company’s market cap is $2.50 billion.

Bitauto Holdings Limited (NYSE:BITA) last issued its quarterly earnings data on Tuesday, August 15th. The information services provider reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.05. Bitauto Holdings Limited had a positive return on equity of 3.85% and a negative net margin of 4.76%. The business had revenue of $320.20 million during the quarter, compared to the consensus estimate of $282.86 million. During the same quarter last year, the company earned $0.20 EPS. Bitauto Holdings Limited’s revenue for the quarter was up 52.9% on a year-over-year basis. On average, analysts expect that Bitauto Holdings Limited will post $1.15 earnings per share for the current year.

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Several large investors have recently added to or reduced their stakes in the stock. Platinum Investment Management Ltd. boosted its stake in Bitauto Holdings Limited by 315.2% in the second quarter. Platinum Investment Management Ltd. now owns 2,379,526 shares of the information services provider’s stock valued at $68,411,000 after buying an additional 1,806,426 shares during the last quarter. State Street Corp raised its position in Bitauto Holdings Limited by 1.8% in the second quarter. State Street Corp now owns 117,280 shares of the information services provider’s stock worth $3,372,000 after buying an additional 2,080 shares during the period. Hillhouse Capital Management Ltd. acquired a new position in Bitauto Holdings Limited during the second quarter worth $32,315,000. Macquarie Group Ltd. raised its position in Bitauto Holdings Limited by 76.6% in the second quarter. Macquarie Group Ltd. now owns 375,000 shares of the information services provider’s stock worth $10,781,000 after buying an additional 162,600 shares during the period. Finally, UBS Oconnor LLC acquired a new position in Bitauto Holdings Limited during the second quarter worth $4,571,000. Hedge funds and other institutional investors own 19.66% 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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