Arga Investment Management LP Upped Baidu INC (BIDU) Holding by $19.19 Million as Shares Declined

April 21, 2018 - By reb123z

Baidu, Inc. (NASDAQ:BIDU) Logo

Arga Investment Management Lp increased its stake in Baidu Inc (BIDU) by 13.26% based on its latest 2017Q4 regulatory filing with the SEC. Arga Investment Management Lp bought 82,029 shares as the company’s stock declined 3.38% with the market. The institutional investor held 700,729 shares of the technology company at the end of 2017Q4, valued at $164.12M, up from 618,700 at the end of the previous reported quarter. Arga Investment Management Lp who had been investing in Baidu Inc for a number of months, seems to be bullish on the $80.95B market cap company. The stock decreased 1.94% or $4.61 during the last trading session, reaching $232.5. About 2.12 million shares traded. Baidu, Inc. (NASDAQ:BIDU) has risen 36.72% since April 21, 2017 and is uptrending. It has outperformed by 25.17% the S&P500.

Baidu, Inc. (NASDAQ:BIDU) Ratings Coverage

Among 10 analysts covering Baidu (NASDAQ:BIDU), 5 have Buy rating, 0 Sell and 5 Hold. Therefore 50% are positive. Baidu has $319 highest and $200.0 lowest target. $263’s average target is 13.12% above currents $232.5 stock price. Baidu had 14 analyst reports since October 27, 2017 according to SRatingsIntel. The firm earned “Hold” rating on Monday, January 29 by Nomura. Barclays Capital maintained Baidu, Inc. (NASDAQ:BIDU) on Monday, April 16 with “Equal-Weight” rating. The rating was upgraded by Daiwa Securities on Monday, April 9 to “Buy”. The firm has “Equal-Weight” rating given on Monday, October 30 by Barclays Capital. Wells Fargo maintained the shares of BIDU in report on Monday, January 8 with “Buy” rating. Jefferies maintained it with “Buy” rating and $291.0 target in Friday, October 27 report. The rating was maintained by Oppenheimer on Tuesday, October 31 with “Outperform”. The firm has “Hold” rating by Jefferies given on Tuesday, January 23. Jefferies maintained Baidu, Inc. (NASDAQ:BIDU) on Wednesday, February 14 with “Hold” rating. The stock of Baidu, Inc. (NASDAQ:BIDU) has “Overweight” rating given on Thursday, February 15 by Morgan Stanley.

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