Bitauto (BITA) Research Coverage Started at Morgan Stanley

Morgan Stanley assumed coverage on shares of Bitauto (NYSE:BITA) in a report released on Wednesday, Marketbeat.com reports. The firm issued an overweight rating on the information services provider’s stock.

A number of other research firms also recently weighed in on BITA. Zacks Investment Research upgraded Bitauto from a sell rating to a hold rating in a report on Thursday, September 28th. BidaskClub downgraded Bitauto from a strong-buy rating to a buy rating in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $44.50.

Shares of Bitauto (NYSE BITA) opened at $29.77 on Wednesday. Bitauto has a 1-year low of $16.76 and a 1-year high of $54.42.

Institutional investors have recently modified their holdings of the business. Advisors Preferred LLC acquired a new stake in Bitauto during the 3rd quarter worth about $105,000. BNP Paribas Arbitrage SA grew its holdings in Bitauto by 13,684.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,619 shares of the information services provider’s stock worth $117,000 after acquiring an additional 2,600 shares during the period. Clarkston Capital Partners LLC acquired a new stake in Bitauto during the 3rd quarter worth about $223,000. Aperio Group LLC acquired a new stake in Bitauto during the 3rd quarter worth about $296,000. Finally, SG Americas Securities LLC grew its holdings in Bitauto by 9.6% during the 2nd quarter. SG Americas Securities LLC now owns 11,409 shares of the information services provider’s stock worth $328,000 after acquiring an additional 999 shares during the period. Hedge funds and other institutional investors own 27.82% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Bitauto (BITA) Research Coverage Started at Morgan Stanley” was reported by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this news story on another website, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this news story can be accessed at https://sportsperspectives.com/2017/12/17/bitauto-bita-research-coverage-started-at-morgan-stanley.html.

About Bitauto

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.

Receive News & Ratings for Bitauto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bitauto and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply