Investors purchased shares of Baidu, Inc. (NASDAQ:BIDU) on weakness during trading hours 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 stocks 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 research analysts have weighed in on BIDU shares. Credit Suisse Group reissued an “outperform” rating on shares of Baidu in a report on Thursday, August 31st. BidaskClub raised shares of Baidu from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Vetr upgraded shares of Baidu from a “sell” rating to a “buy” rating and set a $244.58 target price on the stock in a research report on Monday, July 31st. Macquarie restated a “top pick” rating on shares of Baidu in a research report on Monday, August 28th. Finally, TheStreet upgraded shares of Baidu from a “c+” rating to a “b” rating in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $210.77.

The company’s 50-day moving average is $219.20 and its 200 day moving average is $189.64. The company has a market capitalization of $78.70 billion, a price-to-earnings ratio of 42.31 and a beta of 1.98. Baidu also was the recipient of some unusual options trading activity on Monday. Traders acquired 10,094 put options on the company. This is an increase of 107% compared to the average daily volume of 4,865 put options.

Hedge funds have recently bought and sold shares of the stock. Grove Bank & Trust grew its holdings in shares of Baidu by 74.2% in the second quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock valued at $106,000 after purchasing an additional 253 shares in the last quarter. Harris Associates L P grew its holdings in shares of Baidu by 9.0% in the first quarter. Harris Associates L P now owns 6,948,582 shares of the information services provider’s stock valued at $1,198,769,000 after purchasing an additional 572,298 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Baidu by 1.5% in the first quarter. Neuberger Berman Group LLC now owns 1,307,575 shares of the information services provider’s stock valued at $225,583,000 after purchasing an additional 19,932 shares in the last quarter. Marathon Asset Management LLP grew its holdings in shares of Baidu by 45.8% in the second quarter. Marathon Asset Management LLP now owns 696,984 shares of the information services provider’s stock valued at $124,661,000 after purchasing an additional 218,791 shares in the last quarter. Finally, Holderness Investments Co. purchased a new position in shares of Baidu in the first quarter valued at $367,000. 64.15% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece was first reported by Daily Political and is the property of of Daily Political. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this piece can be viewed at https://www.dailypolitical.com/2017/09/07/investors-buy-baidu-inc-bidu-on-weakness-3.html.

About Baidu

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.