Investors Buy Baidu Inc (BIDU) on Weakness
Traders purchased shares of Baidu Inc (NASDAQ:BIDU) on weakness during trading on Tuesday. $216.79 million flowed into the stock on the tick-up and $192.10 million flowed out of the stock on the tick-down, for a money net flow of $24.69 million into the stock. Of all companies tracked, Baidu had the 33rd highest net in-flow for the day. Baidu traded down ($7.34) for the day and closed at $225.30
Several equities analysts recently issued reports on the company. BidaskClub upgraded Baidu from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $208.00 price objective on shares of Baidu in a research note on Monday, June 19th. ValuEngine upgraded Baidu from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. HSBC Holdings plc reiterated a “buy” rating and issued a $223.00 price objective on shares of Baidu in a research note on Monday, July 10th. Finally, Macquarie upgraded Baidu from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $189.00 to $252.00 in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $209.80.
The firm has a market capitalization of $78.13 billion, a P/E ratio of 41.99 and a beta of 1.98. The company has a 50-day moving average price of $218.13 and a 200-day moving average price of $189.37. Baidu also saw unusually large options trading activity on Monday. Traders bought 10,094 put options on the stock. This is an increase of 107% compared to the average daily volume of 4,865 put options.
Hedge funds have recently modified their holdings of the business. Grove Bank & Trust grew its position in Baidu by 74.2% in the 2nd quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock worth $106,000 after purchasing an additional 253 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in Baidu in the 2nd quarter worth about $112,000. Aviance Capital Management LLC bought a new stake in Baidu in the 2nd quarter worth about $124,000. Barnett & Company Inc. grew its position in Baidu by 10.3% in the 1st quarter. Barnett & Company Inc. now owns 800 shares of the information services provider’s stock worth $138,000 after purchasing an additional 75 shares in the last quarter. Finally, Highstreet Asset Management Inc. bought a new stake in Baidu in the 2nd quarter worth about $146,000. 64.15% of the stock is owned by institutional investors and hedge funds.
Baidu Company Profile
Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.