Baidu Target of Unusually Large Options Trading (BIDU)
Baidu Inc (NASDAQ:BIDU) saw unusually large options trading on Thursday. Stock traders acquired 19,640 call options on the company. This represents an increase of approximately 126% compared to the average daily volume of 8,688 call options.
Institutional investors have recently added to or reduced their stakes in the stock. Barnett & Company Inc. increased its position in Baidu by 10.3% in the first quarter. Barnett & Company Inc. now owns 800 shares of the information services provider’s stock worth $138,000 after buying an additional 75 shares during the period. Financial Architects Inc increased its position in Baidu by 63.2% in the third quarter. Financial Architects Inc now owns 775 shares of the information services provider’s stock worth $141,000 after buying an additional 300 shares during the period. Parallel Advisors LLC bought a new position in Baidu during the fourth quarter worth about $167,000. Campbell & CO Investment Adviser LLC bought a new position in Baidu during the first quarter worth about $202,000. Finally, ProVise Management Group LLC bought a new position in Baidu during the first quarter worth about $202,000. Institutional investors and hedge funds own 62.63% of the company’s stock.
Shares of Baidu (NASDAQ:BIDU) traded up 1.65% during mid-day trading on Thursday, hitting $186.60. The stock had a trading volume of 3,204,432 shares. The company has a market cap of $64.73 billion, a P/E ratio of 41.37 and a beta of 1.90. Baidu has a 1-year low of $155.28 and a 1-year high of $197.80. The firm’s 50 day moving average price is $175.74 and its 200 day moving average price is $173.35.
A number of equities research analysts have recently weighed in on BIDU shares. Evercore ISI restated a “hold” rating and set a $200.00 target price on shares of Baidu in a research report on Wednesday, February 1st. Deutsche Bank AG restated a “hold” rating and set a $181.00 target price (down previously from $194.00) on shares of Baidu in a research report on Monday, February 27th. Barclays PLC started coverage on Baidu in a research report on Tuesday, March 28th. They set an “equal weight” rating and a $195.00 target price for the company. Vetr downgraded Baidu from a “strong-buy” rating to a “buy” rating and set a $196.30 target price for the company. in a research report on Monday, March 20th. Finally, Zacks Investment Research downgraded Baidu from a “buy” rating to a “sell” rating in a research report on Wednesday, March 1st. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $188.01.
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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.
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