Wellington Management Group LLP bought a new position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 23,845 shares of the information services provider's stock, valued at approximately $2,511,000.
Several other institutional investors and hedge funds also recently made changes to their positions in BIDU. Stifel Financial Corp grew its stake in shares of Baidu by 82.5% during the third quarter. Stifel Financial Corp now owns 75,546 shares of the information services provider's stock worth $7,954,000 after purchasing an additional 34,145 shares during the period. Quantinno Capital Management LP bought a new position in Baidu during the third quarter worth about $201,000. Portolan Capital Management LLC grew its position in shares of Baidu by 55.7% during the 3rd quarter. Portolan Capital Management LLC now owns 132,066 shares of the information services provider's stock worth $13,905,000 after buying an additional 47,219 shares during the period. Maple Rock Capital Partners Inc. bought a new stake in shares of Baidu in the 3rd quarter valued at about $42,748,000. Finally, Integrated Wealth Concepts LLC raised its position in shares of Baidu by 33.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,104 shares of the information services provider's stock valued at $748,000 after acquiring an additional 1,792 shares during the period.
Several brokerages have commented on BIDU. China Renaissance downgraded shares of Baidu from a "buy" rating to a "hold" rating and set a $86.00 target price for the company. in a research note on Monday, November 25th. Loop Capital lowered their price objective on shares of Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, August 26th. Sanford C. Bernstein downgraded Baidu from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Citigroup decreased their target price on Baidu from $142.00 to $141.00 and set a "buy" rating for the company in a research note on Friday, November 29th. Finally, Benchmark dropped their price target on Baidu from $135.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $113.75.
Get Our Latest Analysis on Baidu
Shares of BIDU opened at $90.18 on Wednesday. The stock has a market capitalization of $31.62 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.19 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 firm has a fifty day simple moving average of $89.67 and a 200 day simple moving average of $90.26. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18.
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.
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