Bitauto Holdings Limited (BITA) Sets New 12-Month High at $43.88
Bitauto Holdings Limited (NYSE:BITA) reached a new 52-week high on Thursday . The stock traded as high as $43.88 and last traded at $43.75, with a volume of 1,556,951 shares. The stock had previously closed at $40.71.
BITA has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a research report on Monday, May 29th. BidaskClub raised shares of Bitauto Holdings Limited from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Finally, ValuEngine raised shares of Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd.
The firm has a 50 day moving average of $36.71 and a 200-day moving average of $29.78. The stock’s market capitalization is $3.09 billion.
Bitauto Holdings Limited (NYSE:BITA) last posted its earnings results on Tuesday, August 15th. The information services provider reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.05). The company had revenue of $320.20 million for the quarter, compared to analysts’ expectations of $282.86 million. Bitauto Holdings Limited had a negative net margin of 4.76% and a positive return on equity of 3.85%. The firm’s quarterly revenue was up 52.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 EPS. Equities analysts expect that Bitauto Holdings Limited will post $1.17 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the business. Platinum Investment Management Ltd. grew its holdings in Bitauto Holdings Limited by 315.2% during the 2nd 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 in the last quarter. State Street Corp grew its holdings in Bitauto Holdings Limited by 1.8% during the 2nd quarter. State Street Corp now owns 117,280 shares of the information services provider’s stock valued at $3,372,000 after buying an additional 2,080 shares in the last quarter. Hillhouse Capital Management Ltd. purchased a new position in Bitauto Holdings Limited during the 2nd quarter valued at about $32,315,000. Macquarie Group Ltd. grew its holdings in Bitauto Holdings Limited by 76.6% during the 2nd quarter. Macquarie Group Ltd. now owns 375,000 shares of the information services provider’s stock valued at $10,781,000 after buying an additional 162,600 shares in the last quarter. Finally, UBS Oconnor LLC purchased a new position in Bitauto Holdings Limited during the 2nd quarter valued at about $4,571,000. 19.66% of the stock is owned by institutional investors and hedge funds.
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About Bitauto Holdings Limited
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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