River & Mercantile Asset Management LLP cut its position in Bitauto Hldg Ltd (NYSE:BITA) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,055 shares of the information services provider’s stock after selling 5,647 shares during the quarter. River & Mercantile Asset Management LLP’s holdings in Bitauto were worth $5,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BITA. Platinum Investment Management Ltd. lifted its stake in Bitauto by 85.0% in the 2nd quarter. Platinum Investment Management Ltd. now owns 4,374,448 shares of the information services provider’s stock worth $104,024,000 after purchasing an additional 2,010,200 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Bitauto by 107.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,602,302 shares of the information services provider’s stock worth $36,853,000 after buying an additional 830,477 shares during the last quarter. Contrarius Investment Management Ltd bought a new position in shares of Bitauto in the 2nd quarter worth $11,744,000. Perpetual Ltd increased its holdings in shares of Bitauto by 182.0% in the 3rd quarter. Perpetual Ltd now owns 445,500 shares of the information services provider’s stock worth $10,247,000 after buying an additional 287,500 shares during the last quarter. Finally, Cornerstone Wealth Management LLC bought a new position in shares of Bitauto in the 3rd quarter worth $5,221,000. Institutional investors and hedge funds own 37.18% of the company’s stock.
A number of equities analysts have recently commented on BITA shares. Zacks Investment Research raised shares of Bitauto from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. Credit Suisse Group reissued a “neutral” rating and issued a $19.00 price target on shares of Bitauto in a report on Thursday, November 29th. MED started coverage on shares of Bitauto in a report on Monday, October 1st. They issued a “hold” rating on the stock. Citigroup lowered shares of Bitauto from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a report on Wednesday, August 15th. Finally, ValuEngine raised shares of Bitauto from a “strong sell” rating to a “sell” rating in a report on Monday, October 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $25.40.
Shares of NYSE:BITA opened at $19.08 on Friday. The firm has a market capitalization of $1.33 billion, a PE ratio of -5.58 and a beta of 2.74. Bitauto Hldg Ltd has a one year low of $15.61 and a one year high of $39.54. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.15 and a current ratio of 1.15.
Bitauto (NYSE:BITA) last issued its quarterly earnings results on Wednesday, November 28th. The information services provider reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.53). The company had revenue of $396.70 million during the quarter, compared to the consensus estimate of $388.27 million. Bitauto had a negative return on equity of 4.56% and a negative net margin of 8.89%. Bitauto’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. Research analysts expect that Bitauto Hldg Ltd will post 0.83 EPS for the current fiscal year.
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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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