BlueCrest Capital Management Ltd Takes $2.10 Million Position in Baidu, Inc. $BIDU

BlueCrest Capital Management Ltd purchased a new stake in Baidu, Inc. (NASDAQ:BIDU) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 24,500 shares of the information services provider’s stock, valued at approximately $2,101,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. grew its position in shares of Baidu by 19.0% during the 1st quarter. Atria Wealth Solutions Inc. now owns 4,191 shares of the information services provider’s stock worth $386,000 after buying an additional 669 shares during the period. Invesco Ltd. grew its stake in Baidu by 2.7% in the first quarter. Invesco Ltd. now owns 211,711 shares of the information services provider’s stock valued at $19,484,000 after acquiring an additional 5,530 shares during the period. Independent Advisor Alliance acquired a new position in shares of Baidu in the 1st quarter valued at approximately $273,000. Russell Investments Group Ltd. increased its position in shares of Baidu by 458.5% during the first quarter. Russell Investments Group Ltd. now owns 157,426 shares of the information services provider’s stock worth $14,488,000 after acquiring an additional 129,241 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its holdings in shares of Baidu by 9.1% during the first quarter. Kovitz Investment Group Partners LLC now owns 3,642 shares of the information services provider’s stock worth $335,000 after buying an additional 304 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BIDU shares. Nomura Securities raised Baidu from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. JPMorgan Chase & Co. upgraded Baidu from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $110.00 to $188.00 in a research note on Monday, November 24th. UBS Group set a $188.00 target price on shares of Baidu in a report on Monday, November 24th. Zephirin Group assumed coverage on Baidu in a research note on Monday, September 15th. They issued a “sell” rating and a $92.00 price target for the company. Finally, Jefferies Financial Group upped their target price on Baidu from $108.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Baidu has an average rating of “Moderate Buy” and a consensus target price of $146.11.

Baidu Stock Down 2.6%

Baidu stock opened at $125.01 on Friday. The firm has a market cap of $43.18 billion, a price-to-earnings ratio of 41.53 and a beta of 0.44. Baidu, Inc. has a 52-week low of $74.71 and a 52-week high of $149.51. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a 50 day moving average price of $123.05 and a two-hundred day moving average price of $105.75.

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.