NINE MASTS CAPITAL Ltd lowered its holdings in Baidu Inc (NASDAQ:BIDU) by 66.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,762 shares of the information services provider’s stock after selling 17,638 shares during the period. NINE MASTS CAPITAL Ltd’s holdings in Baidu were worth $1,173,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in BIDU. Principal Financial Group Inc. lifted its holdings in shares of Baidu by 14.0% in the first quarter. Principal Financial Group Inc. now owns 4,759 shares of the information services provider’s stock valued at $1,062,000 after purchasing an additional 586 shares in the last quarter. Eqis Capital Management Inc. raised its holdings in shares of Baidu by 74.1% during the second quarter. Eqis Capital Management Inc. now owns 1,717 shares of the information services provider’s stock worth $417,000 after acquiring an additional 731 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Baidu during the second quarter worth $1,464,000. Comerica Bank raised its holdings in shares of Baidu by 2.8% during the second quarter. Comerica Bank now owns 21,948 shares of the information services provider’s stock worth $5,927,000 after acquiring an additional 605 shares in the last quarter. Finally, Montag A & Associates Inc. raised its holdings in shares of Baidu by 57.0% during the second quarter. Montag A & Associates Inc. now owns 8,474 shares of the information services provider’s stock worth $2,059,000 after acquiring an additional 3,077 shares in the last quarter. Institutional investors own 60.81% of the company’s stock.
NASDAQ BIDU traded down $4.30 during trading on Thursday, hitting $178.36. 53,227 shares of the company traded hands, compared to its average volume of 2,579,557. Baidu Inc has a 12 month low of $175.32 and a 12 month high of $284.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a market cap of $63.34 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 0.97 and a beta of 1.60.
Several brokerages recently issued reports on BIDU. Zacks Investment Research lowered Baidu from a “hold” rating to a “sell” rating in a report on Wednesday. Barclays set a $250.00 price objective on Baidu and gave the stock a “hold” rating in a report on Thursday, October 18th. ValuEngine lowered Baidu from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. BidaskClub upgraded Baidu from a “strong sell” rating to a “sell” rating in a report on Friday, September 14th. Finally, Susquehanna Bancshares began coverage on Baidu in a report on Friday, September 7th. They set a “positive” rating and a $325.00 price objective for the company. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. Baidu presently has an average rating of “Buy” and a consensus 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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