Stock Traders Purchase High Volume of Baidu Call Options (NASDAQ:BIDU)

Baidu, Inc. (NASDAQ:BIDU) saw unusually large options trading activity on Tuesday. Stock investors acquired 61,888 call options on the stock. This is an increase of approximately 48% compared to the average daily volume of 41,795 call options.

Hedge Funds Weigh In On Baidu

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new stake in Baidu in the first quarter worth $922,000. Ameriprise Financial Inc. raised its stake in shares of Baidu by 7.5% in the fourth quarter. Ameriprise Financial Inc. now owns 45,949 shares of the information services provider’s stock valued at $3,874,000 after acquiring an additional 3,200 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Baidu in the 1st quarter worth about $274,000. Diametric Capital LP boosted its stake in shares of Baidu by 51.9% during the 4th quarter. Diametric Capital LP now owns 8,218 shares of the information services provider’s stock worth $693,000 after purchasing an additional 2,809 shares during the period. Finally, Cantor Fitzgerald L. P. grew its holdings in Baidu by 1,510.9% during the 4th quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider’s stock valued at $33,722,000 after purchasing an additional 375,145 shares during the last quarter.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Jefferies Financial Group decreased their target price on Baidu from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday. Macquarie reaffirmed a “neutral” rating on shares of Baidu in a report on Wednesday, May 21st. Barclays set a $84.00 target price on shares of Baidu and gave the stock an “equal weight” rating in a report on Thursday, May 22nd. Benchmark cut their target price on shares of Baidu from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, May 22nd. Finally, Citigroup reduced their price target on shares of Baidu from $139.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, May 22nd. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $105.18.

Baidu Trading Down 7.5%

Shares of NASDAQ BIDU opened at $86.32 on Thursday. Baidu has a 1-year low of $74.71 and a 1-year high of $116.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.29 and a quick ratio of 2.29. The business’s 50 day moving average is $86.69 and its two-hundred day moving average is $87.68. The stock has a market capitalization of $29.82 billion, a P/E ratio of 8.56 and a beta of 0.33.

About Baidu

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.