Bitauto Holdings Limited (BITA) Downgraded to “Hold” at BidaskClub

BidaskClub downgraded shares of Bitauto Holdings Limited (NYSE:BITA) from a buy rating to a hold rating in a report released on Tuesday, July 25th.

Several other analysts have also recently weighed in on BITA. Zacks Investment Research upgraded Bitauto Holdings Limited from a hold rating to a strong-buy rating and set a $34.00 price target on the stock in a report on Thursday, May 11th. HSBC Holdings plc reaffirmed a buy rating and issued a $33.00 price objective (up from $27.00) on shares of Bitauto Holdings Limited in a research note on Wednesday, May 17th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Bitauto Holdings Limited currently has a consensus rating of Buy and a consensus target price of $34.00.

Shares of Bitauto Holdings Limited (NYSE BITA) traded up 3.10% during trading on Tuesday, hitting $36.91. 884,996 shares of the stock traded hands. The company’s market cap is $2.84 billion. Bitauto Holdings Limited has a 1-year low of $16.56 and a 1-year high of $38.57. The company has a 50 day moving average of $31.04 and a 200-day moving average of $26.64.

COPYRIGHT VIOLATION WARNING: “Bitauto Holdings Limited (BITA) Downgraded to “Hold” at BidaskClub” was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://stocknewstimes.com/2017/08/12/bitauto-holdings-limited-bita-downgraded-by-bidaskclub-to-hold-updated-updated.html.

Several institutional investors have recently bought and sold shares of the company. Cantillon Capital Management LLC raised its position in Bitauto Holdings Limited by 10.4% in the second quarter. Cantillon Capital Management LLC now owns 3,800,612 shares of the information services provider’s stock worth $109,268,000 after buying an additional 359,377 shares in the last quarter. FIL Ltd raised its position in shares of Bitauto Holdings Limited by 4.2% in the first quarter. FIL Ltd now owns 957,848 shares of the information services provider’s stock valued at $24,531,000 after buying an additional 38,295 shares during the period. Pictet Asset Management Ltd. acquired a new position in shares of Bitauto Holdings Limited during the first quarter valued at about $24,184,000. Platinum Investment Management Ltd. acquired a new position in shares of Bitauto Holdings Limited during the first quarter valued at about $14,677,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Bitauto Holdings Limited by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 534,870 shares of the information services provider’s stock valued at $15,378,000 after buying an additional 77,591 shares during the period. 18.87% 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.

Receive News & Ratings for Bitauto Holdings Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bitauto Holdings Limited and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply