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

Baidu, Inc. (NASDAQ:BIDU) was the target of some unusual options trading activity on Friday. Stock traders acquired 64,745 call options on the stock. This represents an increase of approximately 52% compared to the typical volume of 42,507 call options.

Baidu Price Performance

Shares of BIDU traded up $3.83 during mid-day trading on Friday, reaching $86.40. 3,983,296 shares of the stock traded hands, compared to its average volume of 2,900,973. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu has a 1 year low of $77.19 and a 1 year high of $116.25. The company has a market cap of $30.30 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 1.90 and a beta of 0.46. The firm has a fifty day moving average price of $84.92 and a 200 day moving average price of $88.84.

Hedge Funds Weigh In On Baidu

A number of large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its position in shares of Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after buying an additional 593 shares during the period. Grove Bank & Trust lifted its stake in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after purchasing an additional 130 shares during the period. Transamerica Financial Advisors Inc. bought a new stake in shares of Baidu during the third quarter valued at approximately $82,000. Denver PWM LLC grew its stake in Baidu by 28.5% in the third quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock worth $104,000 after purchasing an additional 220 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Baidu by 102.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider’s stock worth $97,000 after purchasing an additional 555 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BIDU shares. StockNews.com upgraded shares of Baidu from a “hold” rating to a “buy” rating in a research report on Friday, December 27th. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Citigroup lowered their target price on Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Susquehanna downgraded shares of Baidu from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. lowered shares of Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $113.75.

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.