Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Bitauto Hldg Ltd (NYSE:BITA) during the first quarter, HoldingsChannel.com reports. The fund acquired 8,070 shares of the information services provider’s stock, valued at approximately $128,000.

A number of other hedge funds have also made changes to their positions in BITA. JPMorgan Chase & Co. raised its holdings in Bitauto by 107.6% in the third quarter. JPMorgan Chase & Co. now owns 1,602,302 shares of the information services provider’s stock worth $36,853,000 after purchasing an additional 830,477 shares during the period. Norges Bank acquired a new stake in Bitauto in the fourth quarter worth $9,222,000. SG Americas Securities LLC raised its holdings in Bitauto by 595.3% in the first quarter. SG Americas Securities LLC now owns 224,249 shares of the information services provider’s stock worth $3,570,000 after purchasing an additional 191,999 shares during the period. River & Mercantile Asset Management LLP raised its holdings in Bitauto by 27.5% in the fourth quarter. River & Mercantile Asset Management LLP now owns 318,713 shares of the information services provider’s stock worth $7,883,000 after purchasing an additional 68,658 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in Bitauto by 321.3% in the first quarter. BNP Paribas Arbitrage SA now owns 86,680 shares of the information services provider’s stock worth $1,380,000 after purchasing an additional 66,108 shares during the period. 37.11% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:BITA opened at $12.02 on Wednesday. Bitauto Hldg Ltd has a 12 month low of $11.66 and a 12 month high of $30.72. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.46. The firm has a market cap of $874.32 million, a P/E ratio of 8.59 and a beta of 1.04.

Bitauto (NYSE:BITA) last issued its quarterly earnings data on Tuesday, March 19th. The information services provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Bitauto had a negative net margin of 5.67% and a negative return on equity of 0.42%. The business had revenue of $453.70 million for the quarter, compared to analyst estimates of $425.94 million. During the same period last year, the business posted $0.12 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. Research analysts predict that Bitauto Hldg Ltd will post 1.75 earnings per share for the current fiscal year.

Several research firms have weighed in on BITA. ValuEngine lowered shares of Bitauto from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded shares of Bitauto from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $25.20.

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Bitauto Company Profile

Bitauto Holdings Limited, through its subsidiaries, provides Internet content and marketing services, and transaction services for the automobile industry in the People's Republic of China. It operates in three segments: Advertising and Subscription Business, Transaction Services Business, and Digital Marketing Solutions Business.

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Institutional Ownership by Quarter for Bitauto (NYSE:BITA)

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