Pacer Advisors Inc. Takes $2.62 Million Position in Baidu Inc (NASDAQ:BIDU)

Pacer Advisors Inc. acquired a new stake in Baidu Inc (NASDAQ:BIDU) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,867 shares of the information services provider’s stock, valued at approximately $2,622,000.

Several other institutional investors have also made changes to their positions in the company. Valeo Financial Advisors LLC increased its holdings in shares of Baidu by 22.4% in the second quarter. Valeo Financial Advisors LLC now owns 530 shares of the information services provider’s stock worth $64,000 after purchasing an additional 97 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Baidu by 8.3% in the first quarter. Parallel Advisors LLC now owns 1,537 shares of the information services provider’s stock worth $154,000 after purchasing an additional 118 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Baidu by 1.0% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,651 shares of the information services provider’s stock worth $1,275,000 after purchasing an additional 128 shares during the last quarter. ETRADE Capital Management LLC increased its holdings in shares of Baidu by 6.3% in the first quarter. ETRADE Capital Management LLC now owns 2,615 shares of the information services provider’s stock worth $264,000 after purchasing an additional 156 shares during the last quarter. Finally, American Beacon Advisors Inc. increased its holdings in shares of Baidu by 52.3% in the first quarter. American Beacon Advisors Inc. now owns 457 shares of the information services provider’s stock worth $46,000 after purchasing an additional 157 shares during the last quarter. Institutional investors and hedge funds own 53.18% of the company’s stock.

BIDU opened at $119.40 on Friday. The stock has a market cap of $41.29 billion, a price-to-earnings ratio of 118.22, a P/E/G ratio of 5.25 and a beta of 1.45. The stock’s 50 day moving average price is $122.79 and its 200-day moving average price is $115.04. Baidu Inc has a one year low of $82.00 and a one year high of $147.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.95 and a current ratio of 2.95.

BIDU has been the topic of several research reports. Oppenheimer reaffirmed a “buy” rating and issued a $155.00 target price on shares of Baidu in a report on Monday, April 27th. BidaskClub cut Baidu from a “hold” rating to a “sell” rating in a research note on Wednesday, July 22nd. Barclays reduced their price objective on Baidu from $150.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 22nd. ValuEngine cut Baidu from a “hold” rating to a “sell” rating in a research note on Thursday, July 2nd. Finally, Citigroup reduced their price objective on Baidu from $189.00 to $178.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company. Baidu has a consensus rating of “Buy” and a consensus target price of $143.21.

Baidu 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 its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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