Fmr LLC decreased its position in shares of Bitauto Hldg Ltd (NYSE:BITA) by 6.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,847,705 shares of the company’s stock after selling 205,800 shares during the period. Fmr LLC’s holdings in Bitauto Hldg were worth $53,936,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in shares of Bitauto Hldg during the third quarter worth about $112,000. Tower Research Capital LLC TRC raised its stake in shares of Bitauto Hldg by 140.6% in the third quarter. Tower Research Capital LLC TRC now owns 4,090 shares of the company’s stock worth $119,000 after buying an additional 2,390 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of Bitauto Hldg by 6.3% in the third quarter. Penserra Capital Management LLC now owns 7,350 shares of the company’s stock worth $213,000 after buying an additional 434 shares in the last quarter. BlackRock Inc. raised its stake in Bitauto Hldg by 2.4% in the third quarter. BlackRock Inc. now owns 7,896 shares of the company’s stock worth $229,000 after buying an additional 182 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Bitauto Hldg during the fourth quarter worth $339,000. 20.75% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Bitauto Hldg (NYSE:BITA)

Shares of Bitauto Hldg Ltd (NYSE:BITA) opened at 25.27 on Tuesday. The company has a 50-day moving average of $20.91 and a 200-day moving average of $23.28. Bitauto Hldg Ltd has a 1-year low of $16.56 and a 1-year high of $33.16. The stock’s market capitalization is $1.75 billion.

Bitauto Hldg (NYSE:BITA) last posted its quarterly earnings results on Wednesday, March 1st. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.04. The firm had revenue of $251.90 million for the quarter, compared to analyst estimates of $237.50 million. Bitauto Hldg had a positive return on equity of 3.22% and a negative net margin of 10.04%. During the same quarter in the prior year, the business posted $0.25 EPS. On average, equities research analysts expect that Bitauto Hldg Ltd will post $1.19 EPS for the current fiscal year.

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Separately, Zacks Investment Research lowered shares of Bitauto Hldg from a “buy” rating to a “hold” rating in a research note on Monday, January 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $29.50.

About Bitauto Hldg

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.

5 Day Chart for NYSE:BITA

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