Wexford Capital LP grew its position in shares of Baidu Inc (NASDAQ:BIDU) by 83.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,128 shares of the information services provider’s stock after acquiring an additional 21,475 shares during the quarter. Baidu comprises 0.7% of Wexford Capital LP’s holdings, making the stock its 18th largest holding. Wexford Capital LP’s holdings in Baidu were worth $10,777,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIDU. BlackRock Inc. increased its holdings in shares of Baidu by 11.6% during the third quarter. BlackRock Inc. now owns 15,768,108 shares of the information services provider’s stock valued at $3,605,851,000 after acquiring an additional 1,642,559 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Baidu by 31,003.6% during the second quarter. Advisors Asset Management Inc. now owns 1,103,867 shares of the information services provider’s stock valued at $1,547,000 after acquiring an additional 1,100,318 shares in the last quarter. Waddell & Reed Financial Inc. bought a new stake in shares of Baidu during the second quarter valued at approximately $222,598,000. Bank of New York Mellon Corp increased its holdings in shares of Baidu by 7,598.5% during the third quarter. Bank of New York Mellon Corp now owns 916,194 shares of the information services provider’s stock valued at $209,516,000 after acquiring an additional 904,293 shares in the last quarter. Finally, Mainstay Capital Management LLC ADV bought a new stake in shares of Baidu during the second quarter valued at approximately $3,069,000. Hedge funds and other institutional investors own 60.81% of the company’s stock.
BIDU stock traded up $4.18 during midday trading on Friday, hitting $184.88. The company’s stock had a trading volume of 20,973 shares, compared to its average volume of 2,476,391. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.24. Baidu Inc has a 1 year low of $174.66 and a 1 year high of $284.22. The stock has a market cap of $63.34 billion, a P/E ratio of 22.83, a P/E/G ratio of 0.97 and a beta of 1.60.
Several equities research analysts recently issued reports on BIDU shares. ValuEngine upgraded Baidu from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Credit Suisse Group set a $313.00 price target on Baidu and gave the stock a “buy” rating in a report on Monday, October 1st. BidaskClub downgraded Baidu from a “sell” rating to a “strong sell” rating in a report on Friday, August 31st. Susquehanna Bancshares started coverage on Baidu in a report on Friday, September 7th. They set a “positive” rating and a $325.00 price target for the company. Finally, UBS Group set a $280.00 price target on Baidu and gave the stock a “buy” rating in a report on Tuesday, October 9th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. Baidu currently has an average rating of “Buy” and an average target price of $277.15.
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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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