Traders Buy Shares of Baidu (BIDU) on Weakness After Analyst Downgrade

Traders purchased shares of Baidu Inc (NASDAQ:BIDU) on weakness during trading on Friday after Nomura lowered their price target on the stock from $283.00 to $206.00. $273.70 million flowed into the stock on the tick-up and $205.54 million flowed out of the stock on the tick-down, for a money net flow of $68.16 million into the stock. Of all equities tracked, Baidu had the 26th highest net in-flow for the day. Baidu traded down ($6.78) for the day and closed at $194.69

Other equities research analysts have also recently issued reports about the company. BidaskClub upgraded Baidu from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. KeyCorp set a $297.00 price target on shares of Baidu and gave the company a “buy” rating in a research note on Wednesday, August 1st. Deutsche Bank set a $337.00 price target on shares of Baidu and gave the company a “buy” rating in a research note on Wednesday, August 1st. Credit Suisse Group set a $313.00 price target on shares of Baidu and gave the company a “buy” rating in a research note on Monday, October 1st. Finally, UBS Group set a $280.00 price target on shares of Baidu and gave the company a “buy” rating in a research note on Tuesday, October 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. Baidu has a consensus rating of “Buy” and a consensus price target of $278.86.

Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its stake in Baidu by 14.0% in the 1st quarter. Principal Financial Group Inc. now owns 4,759 shares of the information services provider’s stock worth $1,062,000 after purchasing an additional 586 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Baidu in the 1st quarter worth approximately $312,000. Gulf International Bank UK Ltd lifted its stake in Baidu by 1.5% in the 2nd quarter. Gulf International Bank UK Ltd now owns 66,500 shares of the information services provider’s stock worth $16,159,000 after purchasing an additional 1,000 shares in the last quarter. Newman Dignan & Sheerar Inc. purchased a new position in Baidu in the 2nd quarter worth approximately $202,000. Finally, XR Securities LLC purchased a new position in Baidu in the 2nd quarter worth approximately $366,000. 60.84% of the stock is currently owned by hedge funds and other institutional investors.

The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $63.59 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 1.02 and a beta of 1.49.

Baidu Company Profile (NASDAQ:BIDU)

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

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