Credit Suisse AG Decreases Holdings in Bitauto Hldg Ltd (BITA)

Credit Suisse AG reduced its stake in Bitauto Hldg Ltd (NYSE:BITA) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,117,038 shares of the information services provider’s stock after selling 26,906 shares during the period. Credit Suisse AG owned 4.35% of Bitauto worth $71,692,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Bitauto by 10.9% during the 1st quarter. BlackRock Inc. now owns 398,236 shares of the information services provider’s stock valued at $8,422,000 after acquiring an additional 39,231 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Bitauto during the 2nd quarter valued at approximately $1,431,000. First Trust Advisors LP boosted its position in shares of Bitauto by 19.3% during the 2nd quarter. First Trust Advisors LP now owns 111,433 shares of the information services provider’s stock valued at $2,650,000 after acquiring an additional 18,024 shares during the last quarter. River & Mercantile Asset Management LLP boosted its position in shares of Bitauto by 41.3% during the 2nd quarter. River & Mercantile Asset Management LLP now owns 255,702 shares of the information services provider’s stock valued at $6,082,000 after acquiring an additional 74,702 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Bitauto during the 2nd quarter valued at approximately $428,000. Institutional investors own 36.96% of the company’s stock.

BITA has been the subject of a number of research reports. Zacks Investment Research upgraded Bitauto from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Monday, October 29th. MED initiated coverage on Bitauto in a research report on Monday, October 1st. They set a “hold” rating for the company. Macquarie lowered their target price on Bitauto from $29.00 to $23.00 and set a “hold” rating for the company in a research report on Thursday, August 23rd. Citigroup downgraded Bitauto from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research report on Wednesday, August 15th. Finally, JPMorgan Chase & Co. initiated coverage on Bitauto in a research report on Wednesday, August 29th. They set an “overweight” rating and a $38.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.00.

NYSE:BITA opened at $18.28 on Friday. Bitauto Hldg Ltd has a fifty-two week low of $15.61 and a fifty-two week high of $39.54. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.48.

Bitauto (NYSE:BITA) last released its quarterly earnings results on Wednesday, August 22nd. The information services provider reported $0.01 earnings per share for the quarter. Bitauto had a negative return on equity of 8.60% and a negative net margin of 15.08%. The company had revenue of $402.35 million for the quarter, compared to analyst estimates of $398.80 million. On average, research analysts expect that Bitauto Hldg Ltd will post 0.83 earnings per share for the current year.

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Bitauto Profile

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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