Myriad Asset Management LTD Has Trimmed Its Baidu INC (BIDU) Position by $31.82 Million

Baidu, Inc. (NASDAQ:BIDU) Logo

Myriad Asset Management Ltd decreased its stake in Baidu Inc (BIDU) by 56.7% based on its latest 2018Q2 regulatory filing with the SEC. Myriad Asset Management Ltd sold 130,950 shares as the company’s stock declined 19.00% while stock markets rallied. The institutional investor held 100,000 shares of the technology company at the end of 2018Q2, valued at $24.30 million, down from 230,950 at the end of the previous reported quarter. Myriad Asset Management Ltd who had been investing in Baidu Inc for a number of months, seems to be less bullish one the $65.63B market cap company. The stock increased 2.76% or $5.06 during the last trading session, reaching $188.28. About 2.94 million shares traded. Baidu, Inc. (NASDAQ:BIDU) has declined 7.96% since December 2, 2017 and is downtrending. It has underperformed by 23.58% the S&P500.

More notable recent Baidu, Inc. (NASDAQ:BIDU) news were published by: Investorplace.com which released: “The IQ Stock Chart Shows Big-Move Potential – Investorplace.com” on November 29, 2018, also Zacks.com with their article: “Baidu Inc. (BIDU) Stock Sinks As Market Gains: What You Should Know – Zacks.com” published on November 27, 2018, Seekingalpha.com published: “NetEase raises $600M-plus for cloud music unit – Seeking Alpha” on November 12, 2018. More interesting news about Baidu, Inc. (NASDAQ:BIDU) were released by: Nasdaq.com and their article: “Report: Developing Opportunities within Pulse Biosciences, Baxter International, FirstEnergy, Affiliated Managers Group, Baidu, and Shopify — Future Expectations, Projections Moving into 2018 – Nasdaq” published on November 02, 2018 as well as Nasdaq.com‘s news article titled: “Notable ETF Inflow Detected – ACWX, BABA, BIDU, BAP – Nasdaq” with publication date: November 07, 2018.

Baidu, Inc. (NASDAQ:BIDU) Ratings Coverage

Among 5 analysts covering Baidu (NASDAQ:BIDU), 3 have Buy rating, 0 Sell and 2 Hold. Therefore 60% are positive. Baidu has $369 highest and $206 lowest target. $268.33’s average target is 42.52% above currents $188.28 stock price. Baidu had 5 analyst reports since July 9, 2018 according to SRatingsIntel. The firm has “Buy” rating by Deutsche Bank given on Monday, October 29. The rating was maintained by Nomura on Thursday, November 1 with “Neutral”. Credit Suisse upgraded Baidu, Inc. (NASDAQ:BIDU) on Monday, July 9 to “Outperform” rating. The company was upgraded on Monday, July 9 by KeyBanc Capital Markets. The stock of Baidu, Inc. (NASDAQ:BIDU) has “Equal-Weight” rating given on Thursday, November 1 by Barclays Capital.

Baidu, Inc. (NASDAQ:BIDU) Ratings Chart

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