As Baidu INC (BIDU) Share Price Declined, Holder Lakewood Capital Management LP Lowered by $35.57 Million Its Position

April 24, 2018 - By Adrian Erickson

Baidu, Inc. (NASDAQ:BIDU) Logo

Anthony Bozza decreased its stake in Baidu Inc (BIDU) by 13.46% based on its latest 2017Q4 regulatory filing with the SEC. Lakewood Capital Management Lp sold 152,000 shares as the company’s stock declined 3.38% with the market. The hedge fund run by Anthony Bozza held 977,459 shares of the technology company at the end of 2017Q4, valued at $228.93 million, down from 1.13M at the end of the previous reported quarter. Lakewood Capital Management Lp who had been investing in Baidu Inc for a number of months, seems to be less bullish one the $80.57B market cap company. The stock decreased 0.46% or $1.08 during the last trading session, reaching $231.42. About 1.49M shares traded. Baidu, Inc. (NASDAQ:BIDU) has risen 36.72% since April 24, 2017 and is uptrending. It has outperformed by 25.17% the S&P500.

Lakewood Capital Management Lp, which manages about $2.87 billion US Long portfolio, upped its stake in Fedex Corp (NYSE:FDX) by 65,700 shares to 363,200 shares, valued at $90.63M in 2017Q4, according to the filing. It also increased its holding in Vereit Inc by 2.38 million shares in the quarter, for a total of 6.34 million shares, and has risen its stake in Comcast Corp New (NASDAQ:CMCSA).

Analysts await Baidu, Inc. (NASDAQ:BIDU) to report earnings on April, 26. They expect $1.31 EPS, up 98.48 % or $0.65 from last year’s $0.66 per share. BIDU’s profit will be $456.09 million for 44.16 P/E if the $1.31 EPS becomes a reality. After $1.90 actual EPS reported by Baidu, Inc. for the previous quarter, Wall Street now forecasts -31.05 % negative EPS growth.

Baidu, Inc. (NASDAQ:BIDU) Ratings Coverage

Among 10 analysts covering Baidu (NASDAQ:BIDU), 5 have Buy rating, 0 Sell and 5 Hold. Therefore 50% are positive. Baidu has $319 highest and $200.0 lowest target. $263’s average target is 13.65% above currents $231.42 stock price. Baidu had 14 analyst reports since October 27, 2017 according to SRatingsIntel. The firm has “Hold” rating given on Monday, January 29 by Nomura. JP Morgan maintained Baidu, Inc. (NASDAQ:BIDU) on Monday, October 30 with “Neutral” rating. On Thursday, February 15 the stock rating was upgraded by Morgan Stanley to “Overweight”. The stock has “Hold” rating by Jefferies on Wednesday, February 14. The firm earned “Buy” rating on Monday, January 8 by Wells Fargo. The stock of Baidu, Inc. (NASDAQ:BIDU) has “Equal-Weight” rating given on Monday, October 30 by Barclays Capital. The rating was upgraded by Daiwa Securities to “Buy” on Monday, April 9. The company was downgraded on Tuesday, January 23 by Jefferies. The firm has “Buy” rating by Jefferies given on Friday, October 27. The stock of Baidu, Inc. (NASDAQ:BIDU) earned “Outperform” rating by Oppenheimer on Tuesday, October 31.

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