Bitauto Holdings Limited (BITA) Shares Gap Down to $47.58

Bitauto Holdings Limited (NYSE:BITA)’s share price gapped down before the market opened on Friday . The stock had previously closed at $49.24, but opened at $47.58. Bitauto Holdings Limited shares last traded at $43.05, with a volume of 2657000 shares.

BITA has been the subject of a number of research reports. BidaskClub cut shares of Bitauto Holdings Limited from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 28th. Zacks Investment Research upgraded shares of Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Finally, ValuEngine upgraded shares of Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd.

The stock has a market capitalization of $2,767.51, a price-to-earnings ratio of 195.65 and a beta of 3.18.

Hedge funds and other institutional investors have recently modified their holdings of the company. Summitview Investment Management purchased a new stake in shares of Bitauto Holdings Limited during the third quarter worth about $1,117,000. Hillhouse Capital Management Ltd. purchased a new stake in shares of Bitauto Holdings Limited during the second quarter worth about $32,315,000. Penserra Capital Management LLC grew its holdings in shares of Bitauto Holdings Limited by 236.2% during the second quarter. Penserra Capital Management LLC now owns 40,331 shares of the information services provider’s stock worth $1,159,000 after buying an additional 28,336 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Bitauto Holdings Limited during the second quarter worth about $250,000. Finally, Macquarie Group Ltd. grew its holdings in shares of Bitauto Holdings Limited by 76.6% during the second quarter. Macquarie Group Ltd. now owns 375,000 shares of the information services provider’s stock worth $10,781,000 after buying an additional 162,600 shares in the last quarter. Institutional investors and hedge funds own 19.83% of the company’s stock.

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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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