Baidu Target of Unusually Large Options Trading (BIDU)
Baidu, Inc. (NASDAQ:BIDU) was the recipient of some unusual options trading activity on Monday. Traders acquired 10,094 put options on the stock. This represents an increase of 107% compared to the average daily volume of 4,865 put options.
Several institutional investors have recently modified their holdings of BIDU. Grove Bank & Trust raised its stake in shares of Baidu by 74.2% in the 2nd quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock valued at $106,000 after purchasing an additional 253 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in shares of Baidu in the 2nd quarter valued at about $112,000. Harbour Capital Advisors LLC raised its stake in shares of Baidu by 17,786.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 20,927 shares of the information services provider’s stock valued at $117,000 after purchasing an additional 20,810 shares in the last quarter. Aviance Capital Management LLC acquired a new stake in shares of Baidu in the 2nd quarter valued at about $124,000. Finally, Barnett & Company Inc. raised its stake in shares of Baidu by 10.3% in the 1st quarter. Barnett & Company Inc. now owns 800 shares of the information services provider’s stock valued at $138,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 64.15% of the company’s stock.
Shares of Baidu (NASDAQ BIDU) opened at 226.97 on Thursday. Baidu has a one year low of $159.54 and a one year high of $233.79. The stock has a market capitalization of $78.70 billion, a P/E ratio of 42.31 and a beta of 1.98. The stock’s 50 day moving average is $219.20 and its 200-day moving average is $189.64.
Several equities analysts have weighed in on the stock. Vetr upgraded shares of Baidu from a “sell” rating to a “strong-buy” rating and set a $265.83 target price for the company in a report on Wednesday. Instinet upgraded shares of Baidu from a “neutral” rating to a “buy” rating and raised their target price for the company from $180.00 to $241.00 in a report on Monday, July 31st. HSBC Holdings plc restated a “buy” rating and set a $245.00 target price (up from $223.00) on shares of Baidu in a report on Tuesday, August 1st. BidaskClub upgraded shares of Baidu from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Finally, TheStreet upgraded shares of Baidu from a “c+” rating to a “b” rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $210.77.
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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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