BidaskClub downgraded shares of Bitauto Holdings Limited (NYSE:BITA) from a buy rating to a hold rating in a research note issued to investors on Tuesday, July 25th.
A number of other equities analysts also recently weighed in on the company. Zacks Investment Research raised Bitauto Holdings Limited from a hold rating to a strong-buy rating and set a $34.00 price target on the stock in a research report on Thursday, May 11th. HSBC Holdings plc reissued a buy rating and set a $33.00 price target (up previously from $27.00) on shares of Bitauto Holdings Limited in a research report on Wednesday, May 17th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $34.00.
Bitauto Holdings Limited (BITA) traded up 1.49% during mid-day trading on Tuesday, reaching $32.11. The company’s stock had a trading volume of 444,764 shares. Bitauto Holdings Limited has a 52-week low of $16.56 and a 52-week high of $34.18. The company has a 50 day moving average of $29.41 and a 200-day moving average of $25.94. The stock’s market cap is $2.47 billion.
Several institutional investors have recently bought and sold shares of the stock. Pictet Asset Management Ltd. purchased a new position in Bitauto Holdings Limited during the first quarter valued at approximately $24,184,000. Platinum Investment Management Ltd. purchased a new position in Bitauto Holdings Limited during the first quarter valued at approximately $14,677,000. UBS Group AG increased its position in Bitauto Holdings Limited by 6,428.0% in the first 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. Dimensional Fund Advisors LP increased its position in Bitauto Holdings Limited by 265.8% in the first quarter. Dimensional Fund Advisors LP now owns 457,279 shares of the information services provider’s stock valued at $11,706,000 after buying an additional 332,279 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Bitauto Holdings Limited by 1,647.1% in the first quarter. Wellington Management Group LLP now owns 278,605 shares of the information services provider’s stock valued at $7,135,000 after buying an additional 262,658 shares during the last quarter. 19.40% of the stock is currently owned by institutional investors.
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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