Y Intercept Hong Kong Ltd Takes $3.66 Million Position in Baidu, Inc. (NASDAQ:BIDU)

Y Intercept Hong Kong Ltd bought a new stake in Baidu, Inc. (NASDAQ:BIDU) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 34,761 shares of the information services provider’s stock, valued at approximately $3,660,000.

A number of other large investors have also modified their holdings of the stock. iA Global Asset Management Inc. acquired a new stake in Baidu during the 2nd quarter valued at approximately $52,000. Denver PWM LLC acquired a new stake in Baidu during the 2nd quarter valued at approximately $67,000. Allspring Global Investments Holdings LLC grew its stake in Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 593 shares in the last quarter. Grove Bank & Trust grew its stake in Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after purchasing an additional 130 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new stake in Baidu during the 3rd quarter valued at approximately $82,000.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Susquehanna lowered Baidu from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $105.00 to $85.00 in a research note on Monday, November 25th. Barclays lowered Baidu from an “overweight” rating to an “equal weight” rating in a research report on Friday, November 22nd. Sanford C. Bernstein lowered Baidu from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $130.00 to $97.00 in a research report on Friday, August 23rd. JPMorgan Chase & Co. lowered Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Finally, HSBC lowered Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research report on Tuesday, September 24th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $113.75.

Baidu Trading Up 0.8 %

Shares of NASDAQ BIDU opened at $86.43 on Monday. The company has a market cap of $30.31 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 1.11 and a beta of 0.46. Baidu, Inc. has a 12-month low of $78.95 and a 12-month high of $120.25. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The stock’s 50 day simple moving average is $92.46 and its 200 day simple moving average is $90.72.

Baidu Company 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.