Baidu, Inc. (NASDAQ:BIDU) Shares Sold by Hedges Asset Management LLC

Hedges Asset Management LLC trimmed its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 18.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,425 shares of the information services provider’s stock after selling 750 shares during the quarter. Hedges Asset Management LLC’s holdings in Baidu were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in Baidu by 14.5% during the 1st quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock worth $42,125,000 after acquiring an additional 50,599 shares during the period. SRN Advisors LLC lifted its holdings in shares of Baidu by 111.5% in the 1st quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock valued at $1,652,000 after buying an additional 8,272 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Baidu by 8.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock valued at $19,249,000 after buying an additional 15,000 shares during the period. Bryn Mawr Capital Management LLC acquired a new stake in shares of Baidu in the 1st quarter valued at approximately $216,000. Finally, Clear Harbor Asset Management LLC lifted its holdings in shares of Baidu by 126.5% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 11,211 shares of the information services provider’s stock valued at $970,000 after buying an additional 6,261 shares during the period.

Baidu Stock Performance

Baidu stock opened at $89.79 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The stock has a fifty day moving average of $92.27 and a two-hundred day moving average of $94.41. The company has a market capitalization of $31.48 billion, a price-to-earnings ratio of 12.02 and a beta of 0.49. Baidu, Inc. has a fifty-two week low of $79.68 and a fifty-two week high of $126.23.

Analyst Ratings Changes

Several analysts have recently commented on BIDU shares. Jefferies Financial Group reduced their price target on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Benchmark reduced their price target on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Sanford C. Bernstein cut Baidu from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $130.00 to $97.00 in a report on Friday, August 23rd. Loop Capital reduced their price target on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, August 26th. Finally, Dbs Bank downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.36.

Baidu Profile

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.