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. “
A number of other equities research analysts have also commented on BITA. Macquarie assumed coverage on Bitauto Holdings in a research report on Friday, July 8th. They set an outperform rating and a $34.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on Bitauto Holdings in a research report on Wednesday, August 31st. They set an overweight rating and a $35.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $32.00.
Shares of Bitauto Holdings (NYSE:BITA) opened at 28.91 on Tuesday. The firm’s market capitalization is $1.79 billion. Bitauto Holdings has a 12 month low of $16.09 and a 12 month high of $37.31. The stock’s 50 day moving average price is $27.78 and its 200-day moving average price is $25.91.
Bitauto Holdings (NYSE:BITA) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.30 by $0.09. Bitauto Holdings had a negative net margin of 11.77% and a positive return on equity of 3.24%. The company earned $209.40 million during the quarter, compared to the consensus estimate of $204.27 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 29.1% on a year-over-year basis. On average, equities research analysts predict that Bitauto Holdings will post $0.87 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC raised its position in shares of Bitauto Holdings by 10.0% in the second quarter. Penserra Capital Management LLC now owns 6,916 shares of the company’s stock worth $186,000 after buying an additional 630 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Bitauto Holdings during the second quarter worth approximately $199,000. Public Employees Retirement System of Ohio raised its position in shares of Bitauto Holdings by 61.5% in the second quarter. Public Employees Retirement System of Ohio now owns 8,400 shares of the company’s stock worth $226,000 after buying an additional 3,200 shares during the last quarter. BlackRock Inc. raised its position in shares of Bitauto Holdings by 8.5% in the first quarter. BlackRock Inc. now owns 8,600 shares of the company’s stock worth $213,000 after buying an additional 671 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Bitauto Holdings during the second quarter worth approximately $690,000. Hedge funds and other institutional investors own 20.89% of the company’s stock.
Bitauto Holdings 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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