Bitauto (BITA) Shares Down 7%

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Bitauto Hldg Ltd (NYSE:BITA) shares dropped 7% during mid-day trading on Tuesday . The company traded as low as $22.01 and last traded at $22.06. Approximately 668,495 shares traded hands during trading, a decline of 44% from the average daily volume of 1,184,652 shares. The stock had previously closed at $23.71.

BITA has been the subject of a number of analyst reports. TheStreet cut Bitauto from a “c-” rating to a “d” rating in a report on Wednesday, May 16th. Zacks Investment Research raised Bitauto from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. Macquarie cut their price objective on Bitauto from $29.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, August 23rd. Citigroup cut Bitauto from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a report on Wednesday, August 15th. Finally, ValuEngine raised Bitauto from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $35.50.

The company has a market cap of $1.70 billion, a price-to-earnings ratio of -6.40 and a beta of 3.27. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.16 and a quick ratio of 1.16.

Bitauto (NYSE:BITA) last announced its 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 during the quarter, compared to analyst estimates of $398.80 million. equities research analysts forecast that Bitauto Hldg Ltd will post -0.95 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in BITA. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Bitauto by 332.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,367 shares of the information services provider’s stock valued at $113,000 after buying an additional 4,125 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Bitauto by 36.7% in the second quarter. Public Employees Retirement System of Ohio now owns 10,800 shares of the information services provider’s stock valued at $257,000 after buying an additional 2,900 shares in the last quarter. Mackay Shields LLC acquired a new stake in shares of Bitauto in the first quarter valued at $260,000. Dupont Capital Management Corp acquired a new stake in shares of Bitauto in the first quarter valued at $264,000. Finally, Jane Street Group LLC acquired a new stake in shares of Bitauto in the second quarter valued at $290,000. Institutional investors own 34.97% of the company’s stock.

About Bitauto (NYSE:BITA)

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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