BlackRock Inc. Purchases 33,151 Shares of Bitauto Hldg Ltd (BITA)

BlackRock Inc. grew its position in shares of Bitauto Hldg Ltd (NYSE:BITA) by 8.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 431,387 shares of the information services provider’s stock after purchasing an additional 33,151 shares during the quarter. BlackRock Inc. owned approximately 0.60% of Bitauto worth $10,258,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BITA. Ladenburg Thalmann Financial Services Inc. increased its holdings in Bitauto by 332.1% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,367 shares of the information services provider’s stock worth $113,000 after acquiring an additional 4,125 shares in the last quarter. Trexquant Investment LP purchased a new stake in Bitauto in the 2nd quarter worth $428,000. Northern Trust Corp increased its holdings in Bitauto by 10.5% in the 1st quarter. Northern Trust Corp now owns 27,320 shares of the information services provider’s stock worth $577,000 after acquiring an additional 2,599 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in Bitauto during the 2nd quarter worth $1,382,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Bitauto during the 2nd quarter worth $1,431,000. 35.55% of the stock is owned by hedge funds and other institutional investors.

Shares of BITA opened at $18.90 on Friday. Bitauto Hldg Ltd has a 52-week low of $17.02 and a 52-week high of $53.37. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -5.53 and a beta of 2.85.

Bitauto (NYSE:BITA) last announced its earnings results on Wednesday, August 22nd. The information services provider reported $0.01 earnings per share (EPS) for the quarter. Bitauto had a negative net margin of 15.08% and a negative return on equity of 8.60%. The company had revenue of $402.35 million for the quarter, compared to analysts’ expectations of $398.80 million. As a group, analysts forecast that Bitauto Hldg Ltd will post 0.83 earnings per share for the current fiscal year.

BITA has been the topic of several recent research reports. Zacks Investment Research raised shares of Bitauto from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Monday, October 29th. Macquarie lowered their target price on shares of Bitauto from $29.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, August 23rd. Citigroup cut shares of Bitauto from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research note on Wednesday, August 15th. ValuEngine raised shares of Bitauto from a “sell” rating to a “hold” rating in a research note on Tuesday, July 17th. Finally, MED initiated coverage on shares of Bitauto in a research note on Monday, October 1st. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $27.00.

About Bitauto

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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