Investors purchased shares of Baidu, Inc. (NASDAQ:BIDU) on weakness during trading hours on Thursday. $268.88 million flowed into the stock on the tick-up and $225.73 million flowed out of the stock on the tick-down, for a money net flow of $43.15 million into the stock. Of all companies tracked, Baidu had the 16th highest net in-flow for the day. Baidu traded down ($7.73) for the day and closed at $222.57
A number of research analysts recently weighed in on BIDU shares. TheStreet raised shares of Baidu from a “c+” rating to a “b” rating in a research report on Monday, July 31st. Vetr lowered shares of Baidu from a “strong-buy” rating to a “buy” rating and set a $199.19 price target on the stock. in a research report on Monday, May 8th. Jefferies Group LLC reissued a “buy” rating and set a $208.00 price target on shares of Baidu in a research report on Monday, June 19th. Benchmark Co. started coverage on shares of Baidu in a research report on Tuesday, April 18th. They set a “buy” rating and a $190.00 price target on the stock. Finally, HSBC Holdings plc reissued a “buy” rating and set a $223.00 price target on shares of Baidu in a research report on Monday, July 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $209.80.
The company’s 50-day moving average is $197.50 and its 200 day moving average is $183.58. The stock has a market capitalization of $77.18 billion, a P/E ratio of 41.71 and a beta of 1.95.
Large investors have recently added to or reduced their stakes in the company. Granite Point Capital Management L.P. purchased a new stake in Baidu during the second quarter valued at about $358,000. Norinchukin Bank The raised its stake in Baidu by 0.7% in the second quarter. Norinchukin Bank The now owns 8,496 shares of the information services provider’s stock valued at $1,520,000 after buying an additional 58 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Baidu by 25.7% in the second quarter. Ameriprise Financial Inc. now owns 300,156 shares of the information services provider’s stock valued at $53,683,000 after buying an additional 61,442 shares in the last quarter. Seven Eight Capital LP purchased a new stake in Baidu during the second quarter valued at about $1,326,000. Finally, Fiera Capital Corp raised its stake in Baidu by 314.5% in the second quarter. Fiera Capital Corp now owns 79,900 shares of the information services provider’s stock valued at $14,291,000 after buying an additional 60,625 shares in the last quarter. 65.25% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: This article was first posted by Ticker Report and is the sole property of of Ticker Report. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://www.tickerreport.com/banking-finance/2800144/investors-buy-baidu-inc-bidu-on-weakness.html.
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.
Receive News & Ratings for Baidu Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu Inc. and related companies with MarketBeat.com's FREE daily email newsletter.