Prospect Financial Services LLC Cuts Position in Baidu, Inc. $BIDU

Prospect Financial Services LLC trimmed its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 36.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,580 shares of the information services provider’s stock after selling 8,196 shares during the period. Baidu comprises about 0.7% of Prospect Financial Services LLC’s holdings, making the stock its 29th biggest position. Prospect Financial Services LLC’s holdings in Baidu were worth $1,250,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BIDU. Dimensional Fund Advisors LP raised its position in Baidu by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,361,973 shares of the information services provider’s stock worth $125,338,000 after acquiring an additional 11,658 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Baidu by 2.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,037,626 shares of the information services provider’s stock valued at $95,494,000 after purchasing an additional 25,834 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Baidu during the second quarter worth about $80,618,000. Massachusetts Financial Services Co. MA boosted its position in Baidu by 319.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 807,322 shares of the information services provider’s stock worth $74,298,000 after acquiring an additional 615,061 shares during the last quarter. Finally, Mondrian Investment Partners LTD raised its holdings in Baidu by 41.7% in the 1st quarter. Mondrian Investment Partners LTD now owns 777,534 shares of the information services provider’s stock valued at $71,556,000 after acquiring an additional 228,623 shares during the last quarter.

Baidu Trading Down 6.4%

NASDAQ BIDU opened at $120.65 on Friday. The company’s fifty day simple moving average is $125.92 and its 200-day simple moving average is $101.26. The stock has a market cap of $41.68 billion, a P/E ratio of 11.12 and a beta of 0.43. Baidu, Inc. has a 52 week low of $74.71 and a 52 week high of $149.51. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BIDU shares. Dbs Bank raised Baidu from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $177.00 in a research note on Thursday, September 25th. CLSA raised shares of Baidu to a “strong-buy” rating in a research note on Monday, September 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Baidu in a report on Wednesday, October 8th. Jefferies Financial Group boosted their price target on Baidu from $108.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Finally, Barclays dropped their price target on Baidu from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.00.

About Baidu

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.