Marathon Asset Management Llp Decreased Its Position in Baidu INC (BIDU) by $8.56 Million

June 20, 2018 - By Richard Conner

Baidu, Inc. (NASDAQ:BIDU) Logo

Bruce J. Richards decreased its stake in Baidu Inc (BIDU) by 4.67% based on its latest 2018Q1 regulatory filing with the SEC. Marathon Asset Management Llp sold 38,390 shares as the company’s stock declined 4.86% with the market. The hedge fund run by Bruce J. Richards held 783,996 shares of the technology company at the end of 2018Q1, valued at $174.98M, down from 822,386 at the end of the previous reported quarter. Marathon Asset Management Llp who had been investing in Baidu Inc for a number of months, seems to be less bullish one the $91.41B market cap company. The stock decreased 2.52% or $6.78 during the last trading session, reaching $262.11. About 4.02 million shares traded or 8.69% up from the average. Baidu, Inc. (NASDAQ:BIDU) has risen 27.01% since June 20, 2017 and is uptrending. It has outperformed by 14.44% the S&P500.

Marathon Asset Management Llp, which manages about $50.94 billion and $6.47B US Long portfolio, upped its stake in Aflac Inc (NYSE:AFL) by 1.05M shares to 2.04M shares, valued at $89.15M in 2018Q1, according to the filing. It also increased its holding in Gildan Activewear Inc (NYSE:GIL) by 920,774 shares in the quarter, for a total of 1.34 million shares, and has risen its stake in Class A.

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 30.48 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: “3 Reasons the iQiyi, Inc Rally Is Not Over” on June 19, 2018, also Fool.com with their article: “Baidu’s AI Brain Drain Continues” published on May 23, 2018, Finance.Yahoo.com published: “The Selloff in Baidu Inc Stock Is a Golden Buying Opportunity” on May 24, 2018. More interesting news about Baidu, Inc. (NASDAQ:BIDU) were released by: Seekingalpha.com and their article: “Nvidia: The Rally Might Just Be Getting Started” published on June 17, 2018 as well as Seekingalpha.com‘s news article titled: “CenturyLink’s Yield Is A Red Flag – Cramer’s Lightning Round (6/18/18)” with publication date: June 19, 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 has $319 highest and $200.0 lowest target. $267.50’s average target is 2.06% above currents $262.11 stock price. Baidu had 16 analyst reports since January 8, 2018 according to SRatingsIntel. As per Monday, January 8, the company rating was maintained by Wells Fargo. The firm has “Hold” rating by Jefferies given on Wednesday, February 14. On Monday, January 29 the stock rating was downgraded by Nomura to “Hold”. As per Friday, May 11, the company rating was upgraded by Bernstein. The stock of Baidu, Inc. (NASDAQ:BIDU) has “Neutral” rating given on Friday, May 18 by Credit Suisse. The rating was downgraded by Jefferies to “Hold” on Tuesday, January 23. The firm has “Buy” rating given on Sunday, May 20 by Oppenheimer. The firm has “Overweight” rating by Morgan Stanley given on Thursday, February 15. The stock of Baidu, Inc. (NASDAQ:BIDU) earned “Outperform” rating by Daiwa Securities on Wednesday, February 14. The stock of Baidu, Inc. (NASDAQ:BIDU) earned “Buy” rating by Daiwa Securities on Monday, April 9.

Baidu, Inc. (NASDAQ:BIDU) Ratings Chart

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