Newport Asia LLC Decreased Baidu INC (BIDU) Position by $68.48 Million as Shares Declined

September 15, 2018 - By Carolyn Hewitt

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 $77.03B market cap company. The stock decreased 1.07% or $2.39 during the last trading session, reaching $220.03. About 2.20M shares traded. Baidu, Inc. (NASDAQ:BIDU) has declined 7.96% since September 15, 2017 and is downtrending. It has underperformed by 23.58% the S&P500.

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

Analysts await Baidu, Inc. (NASDAQ:BIDU) to report earnings on October, 25. They expect $2.05 earnings per share, down 43.37 % or $1.57 from last year’s $3.62 per share. BIDU’s profit will be $717.72M for 26.83 P/E if the $2.05 EPS becomes a reality. After $2.69 actual earnings per share reported by Baidu, Inc. for the previous quarter, Wall Street now forecasts -23.79 % negative EPS growth.

More notable recent Baidu, Inc. (NASDAQ:BIDU) news were published by: which released: “When bookrunners collide” on August 17, 2018, also with their article: “When Will Baidu Stock Bounce Back?” published on September 11, 2018, published: “Baidu: Waiting For A Swing” on September 07, 2018. More interesting news about Baidu, Inc. (NASDAQ:BIDU) were released by: and their article: “Eros +5% on iQiyi partnership” published on September 10, 2018 as well as‘s news article titled: “Is It Time to Buy Alibaba Stock With Both Hands?” with publication date: September 13, 2018.

Baidu, Inc. (NASDAQ:BIDU) Ratings Coverage

Among 9 analysts covering Baidu (NASDAQ:BIDU), 7 have Buy rating, 0 Sell and 2 Hold. Therefore 78% are positive. Baidu had 11 analyst reports since April 5, 2018 according to SRatingsIntel. As per Monday, July 9, the company rating was upgraded by KeyBanc Capital Markets. The rating was downgraded by Credit Suisse on Friday, May 18 to “Neutral”. The stock of Baidu, Inc. (NASDAQ:BIDU) has “Market Perform” rating given on Friday, May 11 by Bernstein. As per Monday, April 16, the company rating was maintained by Barclays Capital. Oppenheimer maintained Baidu, Inc. (NASDAQ:BIDU) on Sunday, May 20 with “Buy” rating. The firm has “Outperform” rating given on Monday, July 9 by Credit Suisse. The stock of Baidu, Inc. (NASDAQ:BIDU) earned “Buy” rating by Daiwa Securities on Monday, April 9.

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