As Baidu INC (BIDU) Stock Value Declined, Newport Asia LLC Decreased Its Holding by $68.48 Million

November 10, 2018 - By Darrin Black

Baidu, Inc. (NASDAQ:BIDU) Logo

Newport Asia Llc decreased its stake in Baidu Inc (BIDU) by 62.17% based on its latest 2018Q2 regulatory filing with the SEC. Newport Asia Llc sold 279,500 shares as the company’s stock declined 19.00% while stock markets rallied. The institutional investor held 170,100 shares of the technology company at the end of 2018Q2, valued at $41.76M, down from 449,600 at the end of the previous reported quarter. Newport Asia Llc who had been investing in Baidu Inc for a number of months, seems to be less bullish one the $64.05 billion market cap company. The stock decreased 2.55% or $4.8 during the last trading session, reaching $183.75. About 2.93M shares traded. Baidu, Inc. (NASDAQ:BIDU) has declined 7.96% since November 10, 2017 and is downtrending. It has underperformed by 23.58% the S&P500.

Newport Asia Llc, which manages about $2.47B and $556.58M US Long portfolio, upped its stake in Alibaba Group Holding (NYSE:BABA) by 22,400 shares to 1.11 million shares, valued at $206.01M in 2018Q2, according to the filing.

More notable recent Baidu, Inc. (NASDAQ:BIDU) news were published by: Fool.com which released: “Why Baidu, Inc. Stock Fell 16.9% in October” on November 06, 2018, also Seekingalpha.com with their article: “Baidu: Positive On Growth But Concerns Remain” published on November 07, 2018, Seekingalpha.com published: “Baidu: Hitting The ‘Buy’ Zone?” on October 23, 2018. More interesting news about Baidu, Inc. (NASDAQ:BIDU) were released by: Seekingalpha.com and their article: “Self-driving news roundup” published on November 01, 2018 as well as Fool.com‘s news article titled: “Is It Finally Time to Buy Baidu Inc. Stock?” with publication date: November 04, 2018.

Baidu, Inc. (NASDAQ:BIDU) Ratings Coverage

Among 7 analysts covering Baidu (NASDAQ:BIDU), 4 have Buy rating, 0 Sell and 3 Hold. Therefore 57% are positive. Baidu has $369 highest and $206 lowest target. $250’s average target is 36.05% above currents $183.75 stock price. Baidu had 8 analyst reports since May 11, 2018 according to SRatingsIntel. The firm has “Buy” rating given on Monday, October 29 by Deutsche Bank. The rating was upgraded by Credit Suisse on Monday, July 9 to “Outperform”. The firm has “Neutral” rating by Nomura given on Thursday, November 1. Barclays Capital maintained Baidu, Inc. (NASDAQ:BIDU) rating on Thursday, November 1. Barclays Capital has “Equal-Weight” rating and $230 target. The stock of Baidu, Inc. (NASDAQ:BIDU) earned “Overweight” rating by KeyBanc Capital Markets on Monday, July 9. Oppenheimer maintained the shares of BIDU in report on Sunday, May 20 with “Buy” rating. The firm earned “Neutral” rating on Friday, May 18 by Credit Suisse. The rating was upgraded by Bernstein to “Market Perform” on Friday, May 11.

Baidu, Inc. (NASDAQ:BIDU) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

By

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter:


Recent Market News

>