SEC 13F Narrative: Baidu INC (BIDU) Stock Price Rose While Investec Asset Management North America INC Boosted by $4.21 Million Its Position

SEC 13F Narrative: Baidu INC (BIDU) Stock Price Rose While Investec Asset Management North America INC Boosted by $4.21 Million Its Position

Investec Asset Management North America Inc increased its stake in Baidu Inc (BIDU) by 40.97% based on its latest 2016Q3 regulatory filing with the SEC. Investec Asset Management North America Inc bought 23,156 shares as the company’s stock rose 10.22% with the market. The institutional investor held 79,674 shares of the technology company at the end of 2016Q3, valued at $14.51M, up from 56,518 at the end of the previous reported quarter. Investec Asset Management North America Inc who had been investing in Baidu Inc for a number of months, seems to be bullish on the $63.20B market cap company. The stock is down 0.73% or $1.32 hitting $178.99, despite the positive news. About 1.50M shares traded hands. Baidu Inc (ADR) (NASDAQ:BIDU) has risen 5.53% since June 7, 2016 and is uptrending. It has underperformed by 1.89% the S&P500.

Investec Asset Management North America Inc, which manages about $2.91 billion and $745.17M US Long portfolio, decreased its stake in Jones Lang Lasalle Inc (NYSE:JLL) by 27,324 shares to 6,936 shares, valued at $789,000 in 2016Q3, according to the filing.

Investec Asset Management North America Inc is a New York-based institutional investor with more than $2.91 billion AUM in November, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Investec Asset Management North America latest Adv, the fund reported to have 38 full and part-time employees. Among which 14 performing investment advisory and research functions. The institutional investor had between 11-25 clients.

More notable recent Baidu Inc (ADR) (NASDAQ:BIDU) news were published by: Fool.com which released: “Better Buy: Amazon.com, Inc. vs. Baidu Inc. (ADR)” on January 04, 2017, also Fool.com with their article: “4 Great Reasons to Buy Baidu Inc. (ADR)” published on December 15, 2016, Investorplace.com published: “Why You Should Buy Baidu Inc (ADR) (BIDU) Stock in 2017” on January 04, 2017. More interesting news about Baidu Inc (ADR) (NASDAQ:BIDU) were released by: Fool.com and their article: “Better Buy: Baidu Inc (ADR) vs. Twitter Inc” published on July 12, 2016 as well as Investorplace.com‘s news article titled: “Baidu Inc ADR (BIDU) Stock Has a Brighter Future Than You Think” with publication date: October 28, 2016.

According to Zacks Investment Research, “Baidu, Inc., formerly Baidu.com, Inc. is a Chinese-language Internet search provider and is based in Beijing, the People’s Republic of China.The company offers a Chinese language search platform and conducts its operations principally through Baidu Online Network Technology Co., Ltd. , a network of third-party Web sites and software applications. Further, the company offers Japanese search services, including Web search, image search, video search, and blog search capabilities. It also offers online marketing services to its customers directly and through other distribution networks.”

Baidu Inc (ADR) (NASDAQ:BIDU) Ratings Coverage

Out of 21 analysts covering Baidu (NASDAQ:BIDU), 7 rate it a “Buy”, 3 “Sell”, while 11 “Hold”. This means 33% are positive. Baidu has been the topic of 33 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The company was downgraded on Monday, October 31 by Macquarie Research. On Friday, January 22 the stock rating was downgraded by Nomura to “Neutral”. The firm earned “Underweight” rating on Monday, December 19 by Cantor Fitzgerald. On Friday, October 28 the stock rating was downgraded by Macquarie Research to “Neutral”. The firm earned “Underweight” rating on Wednesday, August 31 by JP Morgan. The firm has “Hold” rating by Deutsche Bank given on Wednesday, September 9. The firm has “Buy” rating by TH Capital given on Tuesday, October 27. Macquarie Research maintained the shares of BIDU in a report on Monday, May 2 with “Outperform” rating. Brean Capital upgraded it to “Buy” rating and $235 target price in Friday, April 29 report. The rating was downgraded by KeyBanc Capital Markets on Tuesday, July 28 to “Sector Weight”.

BIDU Company Profile

Baidu, Inc., incorporated on January 18, 2000, is a Chinese language Internet search provider. The Firm offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers. The Company’s business consists of three divisions: search services, transaction services and iQiyi. Search services are keyword marketing services targeted at and triggered by Internet users’ search queries, which mainly include its pay-for-performance (P4P) services and other online marketing services. The Company’s transaction services include Baidu Nuomi, Baidu Takeout Delivery, Baidu Maps, Baidu Connect, Baidu Wallet and others. iQiyi is an online video platform with a content library that includes licensed movies, television series, cartoons, variety shows and other programs.

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