Glovista Investments LLC bought a new position in Baidu Inc (NASDAQ:BIDU) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 38,947 shares of the information services provider’s stock, valued at approximately $9,647,000. Baidu accounts for approximately 1.8% of Glovista Investments LLC’s investment portfolio, making the stock its 17th biggest holding.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new position in Baidu in the 2nd quarter worth about $559,000. Comgest Global Investors S.A.S. boosted its position in shares of Baidu by 9.1% during the 2nd quarter. Comgest Global Investors S.A.S. now owns 2,659,934 shares of the information services provider’s stock valued at $475,756,000 after acquiring an additional 222,300 shares during the last quarter. Pitcairn Co. boosted its position in shares of Baidu by 11.3% during the 3rd quarter. Pitcairn Co. now owns 7,479 shares of the information services provider’s stock valued at $1,852,000 after acquiring an additional 760 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Baidu by 2.4% during the 2nd quarter. Lazard Asset Management LLC now owns 5,879,990 shares of the information services provider’s stock valued at $1,051,693,000 after acquiring an additional 138,105 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of Baidu by 3.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 315,389 shares of the information services provider’s stock valued at $78,118,000 after acquiring an additional 9,666 shares during the last quarter. Institutional investors and hedge funds own 64.04% of the company’s stock.
Baidu Inc (NASDAQ BIDU) opened at $231.15 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.71 and a quick ratio of 1.71. The company has a market capitalization of $79,636.91, a P/E ratio of 29.07, a price-to-earnings-growth ratio of 1.36 and a beta of 1.89. Baidu Inc has a 12 month low of $162.02 and a 12 month high of $274.97.
BIDU has been the subject of a number of research analyst reports. Vetr downgraded Baidu from a “strong-buy” rating to a “buy” rating and set a $265.83 price target for the company. in a research report on Tuesday, September 19th. Barclays set a $250.00 price target on Baidu and gave the company a “hold” rating in a research report on Thursday, October 19th. Credit Suisse Group reiterated an “outperform” rating on shares of Baidu in a research report on Thursday, August 31st. Citigroup reiterated a “hold” rating and set a $253.00 price target on shares of Baidu in a research report on Thursday, September 14th. Finally, Macquarie reiterated a “top pick” rating on shares of Baidu in a research report on Monday, August 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Baidu has a consensus rating of “Buy” and an average price target of $236.36.
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Baidu Company Profile
Baidu, Inc is a Chinese language Internet search provider. The Company 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.
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