Bridgewater Associates LP Acquires Shares of 114,284 Baidu, Inc. (NASDAQ:BIDU)

Bridgewater Associates LP acquired a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 114,284 shares of the information services provider’s stock, valued at approximately $12,033,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Baidu during the 3rd quarter valued at about $1,054,000. 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 acquiring an additional 8,272 shares during the last quarter. 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 acquiring an additional 15,000 shares during the last quarter. Clear Harbor Asset Management LLC lifted its holdings in shares of Baidu by 82.9% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock valued at $2,159,000 after acquiring an additional 9,292 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Baidu in the 2nd quarter valued at about $606,000.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Susquehanna downgraded shares of Baidu from a “positive” rating to a “neutral” rating and lowered their price target for the company from $105.00 to $85.00 in a report on Monday. China Renaissance downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Monday. Bank of America lowered their price target on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Mizuho reduced their price objective on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, Barclays lowered shares of Baidu from an “overweight” rating to an “equal weight” rating in a research report on Friday, November 22nd. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $114.92.

Baidu Stock Performance

Shares of NASDAQ:BIDU opened at $84.82 on Friday. The firm has a market cap of $29.74 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 1.06 and a beta of 0.51. The firm’s 50 day simple moving average is $93.59 and its 200-day simple moving average is $91.94. Baidu, Inc. has a one year low of $78.95 and a one year high of $123.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19.

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.