According to Zacks, “Bitauto Holdings Limited is engaged in providing internet content and marketing services for automotive industry in China. Its bitauto.com and ucar.cn websites provide consumers new and used automobile pricing information, specifications, reviews and consumer feedback. The Company operates in three segments- bitauto.com business, ucar.cn business and digital marketing solutions business. Bitauto.com business provides subscription services to new automobile dealers and advertising services to dealers and automakers on bitauto.com website. Bitauto’s ucar.cn business provides listing and advertising services to used automobile dealers on ucar.cn website. The Company’s digital marketing solutions business provides automakers with digital marketing solutions, including website creation and maintenance, online public relations, online marketing campaigns and advertising agent services. Bitauto Holdings Limited is headquartered in Beijing, the People’s Republic of China. “
A number of other analysts have also recently issued reports on BITA. Macquarie initiated coverage on Bitauto Holdings in a research report on Friday, July 8th. They issued an outperform rating and a $34.00 target price for the company. JPMorgan Chase & Co. initiated coverage on Bitauto Holdings in a research report on Wednesday, August 31st. They issued an overweight rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Bitauto Holdings presently has a consensus rating of Buy and a consensus target price of $32.00.
Shares of Bitauto Holdings (NYSE:BITA) opened at 29.82 on Tuesday. Bitauto Holdings has a 12 month low of $16.09 and a 12 month high of $37.31. The company’s 50 day moving average price is $27.73 and its 200 day moving average price is $25.89. The stock’s market capitalization is $1.85 billion.
Bitauto Holdings (NYSE:BITA) last announced its earnings results on Tuesday, August 9th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by $0.09. The firm earned $209.40 million during the quarter, compared to analyst estimates of $204.27 million. Bitauto Holdings had a negative net margin of 11.77% and a positive return on equity of 3.24%. The firm’s revenue for the quarter was up 29.1% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. Equities analysts anticipate that Bitauto Holdings will post $0.87 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of BITA. BlackRock Inc. boosted its stake in Bitauto Holdings by 8.5% in the first quarter. BlackRock Inc. now owns 8,600 shares of the company’s stock valued at $213,000 after buying an additional 671 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Bitauto Holdings by 12.6% in the first quarter. BlackRock Fund Advisors now owns 58,004 shares of the company’s stock valued at $1,438,000 after buying an additional 6,480 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Bitauto Holdings by 2.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 51,613 shares of the company’s stock valued at $1,279,000 after buying an additional 1,243 shares in the last quarter. Contrarius Investment Management Ltd boosted its stake in Bitauto Holdings by 116.4% in the first quarter. Contrarius Investment Management Ltd now owns 1,488,878 shares of the company’s stock valued at $36,909,000 after buying an additional 800,868 shares in the last quarter. Finally, Greenwoods Asset Management Ltd boosted its stake in Bitauto Holdings by 14.2% in the first quarter. Greenwoods Asset Management Ltd now owns 2,856,847 shares of the company’s stock valued at $70,821,000 after buying an additional 355,847 shares in the last quarter. 20.89% of the stock is owned by institutional investors and hedge funds.
About Bitauto Holdings
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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