Traders Buy Large Volume of Baidu Put Options (BIDU)
Baidu, Inc. (NASDAQ:BIDU) was the target of some unusual options trading on Monday. Investors purchased 14,321 put options on the stock. This represents an increase of 233% compared to the typical daily volume of 4,297 put options.
Baidu (BIDU) opened at 201.17 on Thursday. The firm has a 50-day moving average price of $183.76 and a 200 day moving average price of $179.98. The firm has a market capitalization of $69.78 billion, a P/E ratio of 43.62 and a beta of 1.91. Baidu has a one year low of $156.23 and a one year high of $201.23.
Large investors have recently modified their holdings of the stock. Barnett & Company Inc. increased its stake in shares of Baidu by 10.3% in the first quarter. Barnett & Company Inc. now owns 800 shares of the information services provider’s stock valued at $138,000 after buying an additional 75 shares during the period. Integrated Investment Consultants LLC purchased a new stake in shares of Baidu during the second quarter valued at approximately $152,000. IHT Wealth Management LLC increased its stake in shares of Baidu by 6.0% in the first quarter. IHT Wealth Management LLC now owns 1,141 shares of the information services provider’s stock valued at $197,000 after buying an additional 65 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Baidu during the first quarter valued at approximately $202,000. Finally, ProVise Management Group LLC purchased a new stake in shares of Baidu during the first quarter valued at approximately $202,000. Institutional investors and hedge funds own 64.68% of the company’s stock.
BIDU has been the topic of several analyst reports. Vetr cut Baidu from a “strong-buy” rating to a “buy” rating and set a $199.19 price objective on the stock. in a research note on Monday, May 8th. Jefferies Group LLC increased their price objective on Baidu from $188.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Benchmark Co. initiated coverage on Baidu in a research note on Tuesday, April 18th. They issued a “buy” rating and a $190.00 price objective on the stock. 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, TheStreet cut Baidu from a “b-” rating to a “c+” rating in a research note on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $189.93.
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.
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