Baidu, Inc. $BIDU Shares Purchased by Waterfront Wealth Inc.

Waterfront Wealth Inc. increased its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 14.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 22,539 shares of the information services provider’s stock after acquiring an additional 2,762 shares during the period. Waterfront Wealth Inc.’s holdings in Baidu were worth $1,933,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BIDU. Kingstone Capital Partners Texas LLC acquired a new position in Baidu during the 2nd quarter worth about $80,618,000. Massachusetts Financial Services Co. MA lifted its stake in Baidu by 319.9% during the 1st 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 in the last quarter. Triata Capital Ltd lifted its stake in Baidu by 193.9% during the 1st quarter. Triata Capital Ltd now owns 568,432 shares of the information services provider’s stock worth $52,313,000 after acquiring an additional 375,007 shares in the last quarter. Mondrian Investment Partners LTD lifted its stake in Baidu by 41.7% during the 1st quarter. Mondrian Investment Partners LTD now owns 777,534 shares of the information services provider’s stock worth $71,556,000 after acquiring an additional 228,623 shares in the last quarter. Finally, GMT Capital Corp lifted its stake in Baidu by 43.2% during the 1st quarter. GMT Capital Corp now owns 591,427 shares of the information services provider’s stock worth $54,429,000 after acquiring an additional 178,300 shares in the last quarter.

Wall Street Analysts Forecast Growth

BIDU has been the topic of a number of analyst reports. Arete Research raised Baidu from a “sell” rating to a “buy” rating and set a $143.00 price target on the stock in a research report on Tuesday, September 16th. Benchmark reduced their price target on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, August 21st. Barclays reduced their price target on Baidu from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, July 18th. Daiwa Capital Markets set a $160.00 price target on Baidu and gave the company a “buy” rating in a research report on Tuesday, October 14th. Finally, CLSA raised Baidu to a “strong-buy” rating in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $128.93.

Baidu Trading Down 1.4%

BIDU opened at $126.82 on Wednesday. Baidu, Inc. has a one year low of $74.71 and a one year high of $149.51. The company has a market cap of $43.81 billion, a P/E ratio of 11.69 and a beta of 0.42. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.85 and a current ratio of 1.85. The business’s 50-day simple moving average is $118.01 and its 200-day simple moving average is $97.97.

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.