Capital Fund Management S.A. Sells 74,500 Shares of Bitauto Holdings Ltd. (BITA)
Capital Fund Management S.A. cut its stake in shares of Bitauto Holdings Ltd. (NYSE:BITA) by 42.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 99,552 shares of the company’s stock after selling 74,500 shares during the period. Capital Fund Management S.A.’s holdings in Bitauto Holdings were worth $2,684,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Bitauto Holdings by 8.5% in the first quarter. BlackRock Inc. now owns 8,600 shares of the company’s stock valued at $213,000 after buying an additional 671 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Bitauto Holdings by 2.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 51,613 shares of the company’s stock valued at $1,279,000 after buying an additional 1,243 shares in the last quarter. State Street Corp increased its stake in Bitauto Holdings by 3.0% in the first quarter. State Street Corp now owns 83,411 shares of the company’s stock valued at $2,067,000 after buying an additional 2,401 shares in the last quarter. BlackRock Fund Advisors increased its stake in Bitauto Holdings by 12.6% in the first quarter. BlackRock Fund Advisors now owns 58,004 shares of the company’s stock valued at $1,438,000 after buying an additional 6,480 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in Bitauto Holdings during the second quarter valued at about $199,000. Hedge funds and other institutional investors own 20.89% of the company’s stock.
Bitauto Holdings Ltd. (NYSE:BITA) traded up 1.91% on Wednesday, hitting $30.47. The stock had a trading volume of 597,313 shares. The stock’s market cap is $1.89 billion. The company’s 50-day moving average is $27.65 and its 200-day moving average is $25.86. Bitauto Holdings Ltd. has a one year low of $16.09 and a one year high of $37.31.
Bitauto Holdings (NYSE:BITA) last issued its earnings results on Tuesday, August 9th. The company reported $0.21 earnings per share for the quarter, missing the Zacks’ 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 firm earned $209.40 million during the quarter, compared to analyst estimates of $204.27 million. During the same quarter in the previous year, the business posted $0.31 EPS. Bitauto Holdings’s revenue was up 29.1% compared to the same quarter last year. On average, analysts anticipate that Bitauto Holdings Ltd. will post $0.87 earnings per share for the current fiscal year.
Several equities research analysts have weighed in on the company. Zacks Investment Research downgraded Bitauto Holdings from a “hold” rating to a “sell” rating in a report on Friday, July 15th. Macquarie assumed coverage on Bitauto Holdings in a report on Friday, July 8th. They set an “outperform” rating and a $34.00 price target on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Bitauto Holdings in a report on Wednesday, August 31st. They set an “overweight” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $32.00.
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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