Sycomore Asset Management raised its stake in Baidu Inc (NASDAQ:BIDU) by 23.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,373 shares of the information services provider’s stock after purchasing an additional 1,586 shares during the period. Baidu accounts for approximately 0.5% of Sycomore Asset Management’s investment portfolio, making the stock its 27th biggest position. Sycomore Asset Management’s holdings in Baidu were worth $876,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Griffin Asset Management Inc. acquired a new position in shares of Baidu in the second quarter valued at $27,000. Motco bought a new stake in shares of Baidu in the second quarter valued at about $28,000. Tower Research Capital LLC TRC bought a new stake in shares of Baidu in the second quarter valued at about $31,000. Westside Investment Management Inc. bought a new stake in shares of Baidu in the second quarter valued at about $33,000. Finally, Lindbrook Capital LLC boosted its position in shares of Baidu by 290.5% in the second quarter. Lindbrook Capital LLC now owns 328 shares of the information services provider’s stock valued at $38,000 after acquiring an additional 244 shares during the period. Hedge funds and other institutional investors own 56.73% of the company’s stock.
A number of brokerages have recently issued reports on BIDU. Benchmark reduced their target price on shares of Baidu to $165.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Barclays set a $135.00 price objective on shares of Baidu and gave the stock a “hold” rating in a research report on Wednesday, August 21st. KeyCorp cut their price objective on shares of Baidu from $152.00 to $149.00 and set an “overweight” rating for the company in a research report on Monday. Zacks Investment Research cut shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Macquarie set a $131.00 price objective on shares of Baidu and gave the stock a “hold” rating in a research report on Thursday, July 4th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. Baidu presently has an average rating of “Hold” and a consensus price target of $149.58.
NASDAQ:BIDU traded down $0.16 during trading hours on Monday, hitting $103.59. 1,066,521 shares of the company traded hands, compared to its average volume of 3,441,971. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.32. The firm’s 50-day simple moving average is $104.77 and its 200-day simple moving average is $122.70. Baidu Inc has a one year low of $93.39 and a one year high of $206.25. The company has a market cap of $37.61 billion, a PE ratio of 13.28, a PEG ratio of 14.11 and a beta of 1.74.
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.
Further Reading: Net Income
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