Baidu INC (BIDU) Holder Glovista Investments LLC Lowered Its Position by $3.21 Million as Valuation Declined

June 14, 2018 - By Linda Rogers

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Glovista Investments Llc decreased its stake in Baidu Inc (BIDU) by 36.74% based on its latest 2018Q1 regulatory filing with the SEC. Glovista Investments Llc sold 14,373 shares as the company’s stock declined 4.86% with the market. The institutional investor held 24,744 shares of the technology company at the end of 2018Q1, valued at $5.52 million, down from 39,117 at the end of the previous reported quarter. Glovista Investments Llc who had been investing in Baidu Inc for a number of months, seems to be less bullish one the $94.77 billion market cap company. The stock increased 0.65% or $1.75 during the last trading session, reaching $271.75. About 2.19M shares traded. Baidu, Inc. (NASDAQ:BIDU) has risen 27.01% since June 14, 2017 and is uptrending. It has outperformed by 14.44% the S&P500.

Glovista Investments Llc, which manages about $940.85M and $451.49M US Long portfolio, upped its stake in Ishares Inc by 157,689 shares to 358,848 shares, valued at $12.83M in 2018Q1, according to the filing.

Analysts await Baidu, Inc. (NASDAQ:BIDU) to report earnings on July, 26. They expect $2.15 EPS, up 6.44 % or $0.13 from last year’s $2.02 per share. BIDU’s profit will be $749.77M for 31.60 P/E if the $2.15 EPS becomes a reality. After $2.25 actual EPS reported by Baidu, Inc. for the previous quarter, Wall Street now forecasts -4.44 % negative EPS growth.

More notable recent Baidu, Inc. (NASDAQ:BIDU) news were published by: Investorplace.com which released: “I’ve Made a Double-Digit Return From Baidu Stock — What’s Stopping You?” on June 08, 2018, also Fool.com with their article: “Baidu’s AI Brain Drain Continues” published on May 23, 2018, Seekingalpha.com published: “Baidu’s AI Drive Hits Speed Bump With COO Departure” on May 21, 2018. More interesting news about Baidu, Inc. (NASDAQ:BIDU) were released by: Seekingalpha.com and their article: “Baidu COO will step down; shares -6%” published on May 18, 2018 as well as Nasdaq.com‘s news article titled: “This Baidu Inc (ADR) Dip Is Another Long Trade Opportunity for Easy Profits” with publication date: May 21, 2018.

Baidu, Inc. (NASDAQ:BIDU) Ratings Coverage

Among 14 analysts covering Baidu (NASDAQ:BIDU), 8 have Buy rating, 0 Sell and 6 Hold. Therefore 57% are positive. Baidu had 16 analyst reports since January 8, 2018 according to SRatingsIntel. As per Friday, May 18, the company rating was downgraded by Credit Suisse. The firm has “Buy” rating by Wells Fargo given on Monday, January 8. The firm has “Market Perform” rating by Bernstein given on Friday, May 11. Oppenheimer maintained Baidu, Inc. (NASDAQ:BIDU) rating on Sunday, May 20. Oppenheimer has “Buy” rating and $29500 target. Barclays Capital maintained Baidu, Inc. (NASDAQ:BIDU) on Monday, April 16 with “Equal-Weight” rating. The company was upgraded on Wednesday, February 14 by Daiwa Securities. Nomura downgraded Baidu, Inc. (NASDAQ:BIDU) rating on Monday, January 29. Nomura has “Hold” rating and $276.0 target. The stock of Baidu, Inc. (NASDAQ:BIDU) earned “Overweight” rating by Morgan Stanley on Thursday, February 15. The rating was downgraded by Jefferies on Tuesday, January 23 to “Hold”. The rating was upgraded by Daiwa Securities to “Buy” on Monday, April 9.

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