California Public Employees Retirement System boosted its holdings in shares of Bitauto Hldg Ltd (NYSE:BITA) by 24.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,776 shares of the information services provider’s stock after buying an additional 14,476 shares during the period. California Public Employees Retirement System owned approximately 0.10% of Bitauto worth $3,252,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BITA. Advisors Preferred LLC acquired a new position in Bitauto during the third quarter worth $105,000. BNP Paribas Arbitrage SA raised its holdings in Bitauto by 13,684.2% during the third quarter. BNP Paribas Arbitrage SA now owns 2,619 shares of the information services provider’s stock worth $117,000 after buying an additional 2,600 shares during the last quarter. Clarkston Capital Partners LLC purchased a new stake in shares of Bitauto in the third quarter valued at about $223,000. Aperio Group LLC purchased a new stake in shares of Bitauto in the third quarter valued at about $296,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Bitauto in the third quarter valued at about $351,000. Hedge funds and other institutional investors own 27.82% of the company’s stock.
Several analysts have recently commented on the stock. BidaskClub upgraded shares of Bitauto from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 5th. ValuEngine downgraded shares of Bitauto from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Citigroup assumed coverage on shares of Bitauto in a report on Tuesday, January 2nd. They issued a “buy” rating and a $40.00 target price for the company. Zacks Investment Research downgraded shares of Bitauto from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. Finally, Morgan Stanley assumed coverage on shares of Bitauto in a report on Wednesday, December 13th. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Bitauto has an average rating of “Buy” and an average target price of $43.00.
Shares of Bitauto Hldg Ltd (BITA) opened at $35.55 on Friday. The company has a market cap of $2,550.00, a PE ratio of -12.79 and a beta of 3.04. Bitauto Hldg Ltd has a 1-year low of $18.04 and a 1-year high of $54.42.
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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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