L & S Advisors Inc Buys New Position in Baidu, Inc. (NASDAQ:BIDU)

L & S Advisors Inc bought a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) during the 3rd quarter, HoldingsChannel reports. The firm bought 15,923 shares of the information services provider’s stock, valued at approximately $1,677,000.

Several other hedge funds have also modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its holdings in Baidu by 0.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 198,393 shares of the information services provider’s stock worth $20,889,000 after purchasing an additional 906 shares during the last quarter. Primecap Management Co. CA increased its holdings in Baidu by 1.5% during the 3rd quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock worth $1,276,521,000 after purchasing an additional 176,150 shares during the last quarter. Pzena Investment Management LLC increased its holdings in Baidu by 6.6% during the 3rd quarter. Pzena Investment Management LLC now owns 330,131 shares of the information services provider’s stock worth $34,759,000 after purchasing an additional 20,550 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Baidu by 5.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock worth $297,000 after acquiring an additional 140 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Baidu in the 3rd quarter worth approximately $1,054,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BIDU shares. Sanford C. Bernstein lowered Baidu from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Susquehanna reduced their price target on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. Loop Capital reduced their price target on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, August 26th. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Tuesday, September 24th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.29.

Baidu Trading Down 5.9 %

Shares of NASDAQ BIDU opened at $81.63 on Friday. The business has a fifty day simple moving average of $93.77 and a 200-day simple moving average of $92.89. The company has a market cap of $28.62 billion, a price-to-earnings ratio of 10.75 and a beta of 0.51. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 12 month low of $79.68 and a 12 month high of $126.23.

About Baidu

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.