Traders Buy Large Volume of Call Options on Baidu (BIDU)

Baidu Inc (NASDAQ:BIDU) saw unusually large options trading on Wednesday. Investors bought 9,298 call options on the stock. This represents an increase of approximately 194% compared to the average volume of 3,166 call options.

Several hedge funds have recently modified their holdings of BIDU. Principal Financial Group Inc. increased its stake in shares of Baidu by 0.4% in the first quarter. Principal Financial Group Inc. now owns 1,346 shares of the information services provider’s stock valued at $232,000 after buying an additional 6 shares during the period. IFP Advisors Inc increased its stake in shares of Baidu by 0.6% in the first quarter. IFP Advisors Inc now owns 1,596 shares of the information services provider’s stock valued at $275,000 after buying an additional 9 shares during the period. Boston Private Wealth LLC increased its stake in shares of Baidu by 0.4% in the first quarter. Boston Private Wealth LLC now owns 2,018 shares of the information services provider’s stock valued at $348,000 after buying an additional 9 shares during the period. Wesbanco Bank Inc. increased its stake in shares of Baidu by 0.8% in the fourth quarter. Wesbanco Bank Inc. now owns 1,245 shares of the information services provider’s stock valued at $205,000 after buying an additional 10 shares during the period. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Baidu by 0.6% in the first quarter. Ameritas Investment Partners Inc. now owns 4,949 shares of the information services provider’s stock valued at $854,000 after buying an additional 28 shares during the period. 62.63% of the stock is owned by hedge funds and other institutional investors.

BIDU has been the topic of several recent research reports. Vetr cut Baidu from a “strong-buy” rating to a “buy” rating and set a $196.20 price target on the stock. in a report on Wednesday, April 19th. Benchmark Co. started coverage on Baidu in a report on Tuesday, April 18th. They set a “buy” rating and a $190.00 target price on the stock. Jefferies Group LLC set a $188.00 target price on Baidu and gave the stock a “buy” rating in a report on Saturday, April 1st. Bank of America Corp restated a “buy” rating on shares of Baidu in a report on Tuesday, February 28th. Finally, Barclays PLC started coverage on Baidu in a report on Tuesday, March 28th. They set an “equal weight” rating and a $195.00 target price on the stock. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $186.63.

Shares of Baidu (NASDAQ BIDU) opened at 181.07 on Friday. Baidu has a 12 month low of $155.28 and a 12 month high of $197.80. The firm has a market cap of $62.81 billion, a price-to-earnings ratio of 39.93 and a beta of 1.90. The company has a 50-day moving average price of $185.05 and a 200-day moving average price of $176.16.

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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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:BIDU”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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