Quantamental Technologies LLC lessened its stake in Baidu Inc (NASDAQ:BIDU) by 85.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 458 shares of the information services provider’s stock after selling 2,710 shares during the quarter. Quantamental Technologies LLC’s holdings in Baidu were worth $54,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Motco acquired a new position in shares of Baidu during the 2nd quarter worth $28,000. American Beacon Advisors Inc. grew its stake in Baidu by 71.2% in the 1st quarter. American Beacon Advisors Inc. now owns 202 shares of the information services provider’s stock valued at $33,000 after buying an additional 84 shares during the last quarter. Westside Investment Management Inc. acquired a new position in Baidu in the 2nd quarter valued at $33,000. Lindbrook Capital LLC grew its stake in Baidu by 290.5% in the 2nd quarter. Lindbrook Capital LLC now owns 328 shares of the information services provider’s stock valued at $38,000 after buying an additional 244 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its stake in Baidu by 392.2% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 502 shares of the information services provider’s stock valued at $59,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 57.34% of the company’s stock.
BIDU has been the topic of a number of research analyst reports. Daiwa Capital Markets set a $108.00 target price on shares of Baidu and gave the company a “hold” rating in a research note on Friday, August 30th. Deutsche Bank lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $147.00 target price on the stock. in a research note on Friday, May 17th. CLSA set a $138.00 target price on shares of Baidu and gave the company a “buy” rating in a research note on Monday, July 8th. ValuEngine upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Loop Capital initiated coverage on shares of Baidu in a research note on Monday, June 3rd. They issued a “hold” rating and a $125.00 target price on the stock. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $151.06.
Shares of NASDAQ:BIDU traded down $0.94 during midday trading on Friday, reaching $110.56. 108,659 shares of the company’s stock were exchanged, compared to its average volume of 4,677,793. The company’s 50 day simple moving average is $104.41 and its two-hundred day simple moving average is $133.77. The firm has a market capitalization of $38.90 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 14.47 and a beta of 1.73. Baidu Inc has a 12 month low of $93.39 and a 12 month high of $234.88. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.61 and a current ratio of 2.61.
Baidu declared that its board has approved a share repurchase program on Thursday, May 16th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the information services provider to repurchase up to 1.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
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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