Stock Traders Buy High Volume of Baidu Call Options (BIDU)
Baidu, Inc. (NASDAQ:BIDU) was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 20,222 call options on the stock. This represents an increase of 107% compared to the average volume of 9,747 call options.
Shares of Baidu (NASDAQ:BIDU) opened at 233.18 on Friday. The firm has a 50 day moving average of $220.41 and a 200-day moving average of $189.95. Baidu has a 12 month low of $159.54 and a 12 month high of $233.79. The stock has a market capitalization of $80.86 billion, a P/E ratio of 43.46 and a beta of 1.98.
Several large investors have recently modified their holdings of the stock. Oak Associates Ltd. OH bought a new stake in shares of Baidu in the second quarter worth $1,458,000. Cetera Investment Advisers bought a new stake in shares of Baidu in the second quarter worth $459,000. Advisory Services Network LLC increased its stake in shares of Baidu by 13.0% in the second quarter. Advisory Services Network LLC now owns 2,126 shares of the information services provider’s stock worth $380,000 after buying an additional 244 shares during the last quarter. 1st Global Advisors Inc. increased its stake in shares of Baidu by 6.5% in the second quarter. 1st Global Advisors Inc. now owns 3,610 shares of the information services provider’s stock worth $646,000 after buying an additional 219 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Baidu in the second quarter worth $605,000. Institutional investors and hedge funds own 64.15% of the company’s stock.
Several equities analysts have recently commented on the stock. BidaskClub upgraded shares of Baidu from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Jefferies Group LLC restated a “buy” rating and issued a $208.00 price objective on shares of Baidu in a report on Monday, June 19th. Macquarie upgraded shares of Baidu from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $189.00 to $252.00 in a report on Friday, July 28th. HSBC Holdings plc restated a “buy” rating and issued a $223.00 price objective on shares of Baidu in a report on Monday, July 10th. Finally, ValuEngine upgraded shares of Baidu from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. Baidu currently has an average rating of “Buy” and an average target price of $210.77.
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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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