Traders Buy Baidu (BIDU) on Weakness

Traders bought shares of Baidu Inc (NASDAQ:BIDU) on weakness during trading on Thursday. $195.91 million flowed into the stock on the tick-up and $162.50 million flowed out of the stock on the tick-down, for a money net flow of $33.41 million into the stock. Of all companies tracked, Baidu had the 15th highest net in-flow for the day. Baidu traded down ($2.36) for the day and closed at $244.07

BIDU has been the topic of a number of research analyst reports. Deutsche Bank initiated coverage on Baidu in a research report on Thursday, March 15th. They issued a “buy” rating and a $319.00 target price on the stock. BidaskClub lowered Baidu from a “hold” rating to a “sell” rating in a research report on Friday, March 30th. KeyCorp initiated coverage on Baidu in a research report on Thursday, April 5th. They issued a “sector weight” rating on the stock. Barclays boosted their target price on Baidu from $250.00 to $260.00 and gave the company an “equal weight” rating in a research report on Monday, April 16th. Finally, Zacks Investment Research raised Baidu from a “hold” rating to a “buy” rating and set a $257.00 target price on the stock in a research report on Tuesday, April 17th. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $281.40.

The company has a market capitalization of $85.45 billion, a P/E ratio of 31.27, a price-to-earnings-growth ratio of 1.57 and a beta of 1.83. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.34.

Baidu declared that its board has approved a stock buyback program on Wednesday, June 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the information services provider to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Several large investors have recently bought and sold shares of BIDU. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its stake in shares of Baidu by 174.8% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 500,450 shares of the information services provider’s stock worth $117,210,000 after acquiring an additional 318,310 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Baidu by 23.0% during the first quarter. Legal & General Group Plc now owns 1,310,215 shares of the information services provider’s stock worth $292,427,000 after purchasing an additional 245,039 shares in the last quarter. Myriad Asset Management Ltd. acquired a new position in shares of Baidu during the first quarter worth $51,546,000. Broad Peak Investment Management LTD. grew its stake in shares of Baidu by 28.8% during the first quarter. Broad Peak Investment Management LTD. now owns 881,303 shares of the information services provider’s stock worth $196,698,000 after purchasing an additional 197,060 shares in the last quarter. Finally, Scopia Capital Management LP grew its stake in shares of Baidu by 23.6% during the first quarter. Scopia Capital Management LP now owns 878,740 shares of the information services provider’s stock worth $196,126,000 after purchasing an additional 167,844 shares in the last quarter. Institutional investors and hedge funds own 60.81% of the company’s stock.

Baidu Company Profile

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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