Flow Traders U.S. LLC acquired a new stake in Baidu Inc (NASDAQ:BIDU) during the first quarter, HoldingsChannel.com reports. The fund acquired 5,511 shares of the information services provider’s stock, valued at approximately $1,230,000.
A number of other hedge funds have also recently made changes to their positions in BIDU. NINE MASTS CAPITAL Ltd acquired a new stake in shares of Baidu in the 1st quarter worth $6,249,000. Teachers Advisors LLC increased its stake in shares of Baidu by 14.8% in the 4th quarter. Teachers Advisors LLC now owns 277,745 shares of the information services provider’s stock worth $65,051,000 after acquiring an additional 35,800 shares during the last quarter. Tuttle Tactical Management LLC acquired a new stake in shares of Baidu in the 4th quarter worth $1,445,000. AMP Capital Investors Ltd increased its stake in shares of Baidu by 24.7% in the 4th quarter. AMP Capital Investors Ltd now owns 103,689 shares of the information services provider’s stock worth $24,285,000 after acquiring an additional 20,562 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Baidu by 39.6% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 86,750 shares of the information services provider’s stock worth $20,318,000 after acquiring an additional 24,600 shares during the last quarter. Institutional investors own 61.18% of the company’s stock.
A number of analysts have issued reports on BIDU shares. Credit Suisse Group started coverage on Baidu in a research note on Monday, April 23rd. They issued an “outperform” rating for the company. Morgan Stanley raised Baidu from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $225.60 to $280.00 in a research note on Wednesday, February 14th. Zacks Investment Research raised Baidu from a “hold” rating to a “buy” rating and set a $257.00 target price for the company in a research note on Tuesday, April 17th. BidaskClub downgraded Baidu from a “hold” rating to a “sell” rating in a research note on Friday, March 30th. Finally, Deutsche Bank started coverage on Baidu in a research note on Thursday, March 15th. They issued a “buy” rating and a $319.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. Baidu presently has an average rating of “Buy” and an average target price of $281.40.
NASDAQ BIDU opened at $263.59 on Friday. The stock has a market capitalization of $91.85 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.43 and a beta of 1.83. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.00 and a quick ratio of 2.00. Baidu Inc has a 1-year low of $173.52 and a 1-year high of $284.22.
Baidu Company Profile
Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.
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