Bitauto Holdings Limited (BITA) Reaches New 12-Month High at $51.85
Bitauto Holdings Limited (NYSE:BITA) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $51.85 and last traded at $0.00, with a volume of shares trading hands.
Several equities research analysts have recently issued reports on the company. BidaskClub raised Bitauto Holdings Limited from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 5th. Zacks Investment Research raised Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Finally, ValuEngine raised Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd.
The company’s market capitalization is $3.53 billion. The firm’s 50 day moving average is $43.17 and its 200-day moving average is $33.11.
Bitauto Holdings Limited (NYSE:BITA) last announced its quarterly earnings results on Tuesday, August 15th. The information services provider reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.05). Bitauto Holdings Limited had a negative net margin of 4.76% and a positive return on equity of 3.85%. The company had revenue of $320.20 million during the quarter, compared to analyst estimates of $282.86 million. During the same quarter last year, the company posted $0.20 EPS. The firm’s quarterly revenue was up 52.9% on a year-over-year basis. On average, equities analysts forecast that Bitauto Holdings Limited will post $1.13 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in BITA. Platinum Investment Management Ltd. grew its stake in Bitauto Holdings Limited by 315.2% in 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 during the last quarter. Hillhouse Capital Management Ltd. acquired a new position in Bitauto Holdings Limited in the 2nd quarter valued at about $32,315,000. Bamco Inc. NY grew its stake in Bitauto Holdings Limited by 74.2% in the 2nd quarter. Bamco Inc. NY now owns 1,275,700 shares of the information services provider’s stock valued at $36,676,000 after buying an additional 543,312 shares during the last quarter. UBS Group AG grew its stake in Bitauto Holdings Limited by 6,428.0% in the 1st quarter. UBS Group AG now owns 410,347 shares of the information services provider’s stock valued at $10,509,000 after buying an additional 404,061 shares during the last quarter. Finally, Cantillon Capital Management LLC grew its stake in Bitauto Holdings Limited by 10.4% in the 2nd quarter. Cantillon Capital Management LLC now owns 3,800,612 shares of the information services provider’s stock valued at $109,268,000 after buying an additional 359,377 shares during the last quarter. Institutional investors and hedge funds own 19.66% of the company’s stock.
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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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