Squarepoint Ops LLC bought a new position in Baidu Inc (NASDAQ:BIDU) in the third quarter, HoldingsChannel reports. The fund bought 19,332 shares of the information services provider’s stock, valued at approximately $1,987,000.
Other institutional investors have also recently bought and sold shares of the company. Tweedy Browne Co LLC boosted its stake in shares of Baidu by 64.8% during the second quarter. Tweedy Browne Co LLC now owns 2,367,889 shares of the information services provider’s stock valued at $277,895,000 after purchasing an additional 930,874 shares in the last quarter. Prudential PLC raised its holdings in Baidu by 44.5% in the 2nd quarter. Prudential PLC now owns 2,216,196 shares of the information services provider’s stock valued at $259,933,000 after buying an additional 681,970 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Baidu by 1,299.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 677,245 shares of the information services provider’s stock worth $79,482,000 after buying an additional 628,859 shares during the period. Bank of Montreal Can boosted its position in Baidu by 67.6% during the 2nd quarter. Bank of Montreal Can now owns 1,328,677 shares of the information services provider’s stock worth $155,933,000 after buying an additional 535,992 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in Baidu by 99.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,001,898 shares of the information services provider’s stock worth $117,583,000 after buying an additional 499,128 shares during the period. Hedge funds and other institutional investors own 52.16% of the company’s stock.
Shares of BIDU opened at $115.85 on Monday. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $40.79 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 15.36 and a beta of 1.77. The firm’s fifty day simple moving average is $112.60 and its two-hundred day simple moving average is $109.84. Baidu Inc has a 12 month low of $93.39 and a 12 month high of $186.22.
BIDU has been the subject of several recent research reports. Benchmark decreased their price target on shares of Baidu to $165.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Morgan Stanley raised Baidu from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 7th. Daiwa Capital Markets raised Baidu from a “hold” rating to an “outperform” rating and lifted their target price for the stock from $105.00 to $124.00 in a report on Friday, November 8th. Jefferies Financial Group set a $133.00 price target on Baidu and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Barclays set a $135.00 price target on Baidu and gave the company a “hold” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Baidu has a consensus rating of “Buy” and a consensus target price of $146.00.
Baidu Company Profile
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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