Bitauto (BITA) Trading 8.2% Higher
Bitauto Holdings Limited (NYSE:BITA) traded up 8.2% during mid-day trading on Tuesday . The company traded as high as $31.23 and last traded at $30.84. 2,179,439 shares were traded during mid-day trading, an increase of 125% from the average session volume of 967,497 shares. The stock had previously closed at $28.51.
A number of equities research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Bitauto from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Zacks Investment Research downgraded shares of Bitauto from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. California Public Employees Retirement System increased its stake in Bitauto by 24.8% during the 3rd quarter. California Public Employees Retirement System now owns 72,776 shares of the information services provider’s stock worth $3,252,000 after buying an additional 14,476 shares during the period. Bamco Inc. NY increased its stake in Bitauto by 17.1% during the 3rd quarter. Bamco Inc. NY now owns 1,494,080 shares of the information services provider’s stock worth $66,755,000 after buying an additional 218,380 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Bitauto during the 3rd quarter worth approximately $351,000. Nomura Asset Management Co. Ltd. purchased a new stake in Bitauto during the 3rd quarter worth approximately $956,000. Finally, Carmignac Gestion increased its stake in Bitauto by 763.0% during the 3rd quarter. Carmignac Gestion now owns 2,154,660 shares of the information services provider’s stock worth $96,270,000 after buying an additional 1,904,987 shares during the period. 27.82% of the stock is currently owned by hedge funds and other institutional investors.
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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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