Bitauto Holdings Limited (BITA) Receives Consensus Rating of “Buy” from Brokerages

Shares of Bitauto Holdings Limited (NYSE:BITA) have been assigned a consensus recommendation of “Buy” from the five ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $34.00.

BITA has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Bitauto Holdings Limited from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a report on Thursday, May 11th. HSBC Holdings plc restated a “buy” rating and issued a $33.00 target price (up from $27.00) on shares of Bitauto Holdings Limited in a report on Wednesday, May 17th. BidaskClub upgraded shares of Bitauto Holdings Limited from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Finally, ValuEngine upgraded shares of Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd.

Large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in Bitauto Holdings Limited by 1,411.3% in the first quarter. Bank of Montreal Can now owns 106,004 shares of the information services provider’s stock valued at $2,714,000 after buying an additional 98,990 shares in the last quarter. Wellington Management Group LLP increased its stake 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 in the last quarter. UBS Group AG increased its stake 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 in the last quarter. Platinum Investment Management Ltd. bought a new stake in Bitauto Holdings Limited during the first quarter valued at $14,677,000. Finally, Penserra Capital Management LLC increased its stake in Bitauto Holdings Limited by 19.4% in the first quarter. Penserra Capital Management LLC now owns 11,995 shares of the information services provider’s stock valued at $307,000 after buying an additional 1,953 shares in the last quarter. Institutional investors own 18.87% of the company’s stock.

Bitauto Holdings Limited (NYSE:BITA) traded down 0.24% during mid-day trading on Thursday, hitting $37.63. 1,739,860 shares of the stock traded hands. The company’s market cap is $2.89 billion. Bitauto Holdings Limited has a 12-month low of $16.56 and a 12-month high of $38.57. The firm’s 50-day moving average is $29.77 and its 200-day moving average is $26.06.

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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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