Platinum Investment Management Ltd. Acquires 1,806,426 Shares of Bitauto Holdings Limited (BITA)

Platinum Investment Management Ltd. boosted its holdings in Bitauto Holdings Limited (NYSE:BITA) by 315.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,379,526 shares of the information services provider’s stock after buying an additional 1,806,426 shares during the period. Bitauto Holdings Limited makes up 1.9% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 17th biggest holding. Platinum Investment Management Ltd. owned approximately 3.09% of Bitauto Holdings Limited worth $68,411,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BITA. Wellington Management Group LLP grew its position in shares of Bitauto Holdings Limited by 1,647.1% during the 1st quarter. Wellington Management Group LLP now owns 278,605 shares of the information services provider’s stock valued at $7,135,000 after purchasing an additional 262,658 shares in the last quarter. UBS Group AG grew its position in shares of Bitauto Holdings Limited by 6,428.0% during the 1st quarter. UBS Group AG now owns 410,347 shares of the information services provider’s stock valued at $10,509,000 after purchasing an additional 404,061 shares in the last quarter. Penserra Capital Management LLC grew its position in shares of Bitauto Holdings Limited by 236.2% during the 2nd quarter. Penserra Capital Management LLC now owns 40,331 shares of the information services provider’s stock valued at $1,159,000 after purchasing an additional 28,336 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Bitauto Holdings Limited during the 2nd quarter valued at $250,000. Finally, Jane Street Group LLC purchased a new position in shares of Bitauto Holdings Limited during the 1st quarter valued at $315,000. Institutional investors and hedge funds own 19.66% of the company’s stock.

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BITA has been the subject of a number of recent analyst reports. 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. ValuEngine upgraded shares of Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, BidaskClub upgraded shares of Bitauto Holdings Limited from a “hold” rating to a “buy” rating in a research report on Monday, July 31st.

Bitauto Holdings Limited (NYSE:BITA) traded up 4.35% on Friday, hitting $49.18. 1,154,296 shares of the stock were exchanged. Bitauto Holdings Limited has a 12 month low of $16.56 and a 12 month high of $49.19. The company has a 50-day moving average of $41.31 and a 200 day moving average of $32.17. The firm’s market cap is $3.43 billion.

Bitauto Holdings Limited (NYSE:BITA) last announced its quarterly earnings data on Tuesday, August 15th. The information services provider reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.05). The firm had revenue of $320.20 million for the quarter, compared to the consensus estimate of $282.86 million. Bitauto Holdings Limited had a negative net margin of 4.76% and a positive return on equity of 3.85%. The firm’s revenue for the quarter was up 52.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 earnings per share. Equities research analysts expect that Bitauto Holdings Limited will post $1.12 earnings per share for the current fiscal year.

Bitauto Holdings Limited Profile

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.

Institutional Ownership by Quarter for Bitauto Holdings Limited (NYSE:BITA)

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