Bitauto Holdings Limited (NYSE:BITA) dropped 9.5% during mid-day trading on Thursday . The stock traded as low as $42.00 and last traded at $43.05. Approximately 2,657,086 shares were traded during mid-day trading, an increase of 209% from the average daily volume of 859,346 shares. The stock had previously closed at $47.58.

BITA has been the subject of several recent research reports. Zacks Investment Research raised shares of Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. BidaskClub lowered shares of Bitauto Holdings Limited from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 26th. 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 stock has a market capitalization of $2,520.00, a price-to-earnings ratio of 239.35 and a beta of 3.17.

Bitauto Holdings Limited (NYSE:BITA) last released its quarterly 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 firm had revenue of $320.20 million for the quarter, compared to analyst estimates of $282.86 million. Bitauto Holdings Limited had a negative net margin of 4.76% and a positive return on equity of 3.85%. Bitauto Holdings Limited’s revenue for the quarter was up 52.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 earnings per share. sell-side analysts expect that Bitauto Holdings Limited will post -0.28 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Preferred LLC acquired a new stake in Bitauto Holdings Limited during the 3rd quarter valued at $105,000. BNP Paribas Arbitrage SA grew its holdings in Bitauto Holdings Limited by 13,684.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,619 shares of the information services provider’s stock valued at $117,000 after purchasing an additional 2,600 shares in the last quarter. Clarkston Capital Partners LLC acquired a new stake in Bitauto Holdings Limited during the 3rd quarter valued at $223,000. Fox Run Management L.L.C. acquired a new stake in Bitauto Holdings Limited during the 2nd quarter valued at $250,000. Finally, Aperio Group LLC acquired a new stake in Bitauto Holdings Limited during the 3rd quarter valued at $296,000. 19.83% 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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