BNP Paribas Arbitrage SA Acquires 365,194 Shares of Baidu Inc. (BIDU)
BNP Paribas Arbitrage SA boosted its stake in Baidu Inc. (NASDAQ:BIDU) by 87.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 783,765 shares of the company’s stock after buying an additional 365,194 shares during the period. Baidu makes up approximately 0.6% of BNP Paribas Arbitrage SA’s portfolio, making the stock its 29th largest position. BNP Paribas Arbitrage SA owned approximately 0.23% of Baidu worth $129,439,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Barnett & Company Inc. purchased a new stake in Baidu during the first quarter valued at about $164,000. Rehmann Capital Advisory Group purchased a new stake in Baidu during the first quarter valued at about $202,000. Loomis Sayles & Co. L P increased its stake in Baidu by 111.2% in the first quarter. Loomis Sayles & Co. L P now owns 1,299 shares of the company’s stock valued at $248,000 after buying an additional 684 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in Baidu during the first quarter valued at about $317,000. Finally, IFP Advisors Inc increased its stake in Baidu by 38.5% in the first quarter. IFP Advisors Inc now owns 1,999 shares of the company’s stock valued at $382,000 after buying an additional 556 shares in the last quarter. 63.21% of the stock is owned by institutional investors and hedge funds.
Baidu Inc. (NASDAQ:BIDU) traded down 0.09% on Friday, reaching $182.07. 2,183,724 shares of the company traded hands. The stock has a market capitalization of $63.11 billion, a PE ratio of 13.40 and a beta of 2.30. Baidu Inc. has a one year low of $139.61 and a one year high of $217.97. The firm has a 50 day moving average of $180.95 and a 200-day moving average of $175.35.
BIDU has been the subject of several recent analyst reports. Goldman Sachs Group Inc. decreased their price objective on shares of Baidu from $220.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, June 14th. Brean Capital reaffirmed a “buy” rating on shares of Baidu in a report on Wednesday, July 6th. Vetr downgraded shares of Baidu from a “strong-buy” rating to a “buy” rating and set a $180.48 price objective for the company. in a report on Thursday, June 30th. Jefferies Group reaffirmed a “buy” rating and set a $203.00 price objective on shares of Baidu in a report on Tuesday, June 7th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $182.00 target price (down from $199.00) on shares of Baidu in a research note on Monday, August 1st. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $196.34.
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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