Penserra Capital Management LLC boosted its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 75.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 93,093 shares of the information services provider’s stock after buying an additional 39,888 shares during the quarter. Baidu makes up approximately 5.5% of Penserra Capital Management LLC’s holdings, making the stock its 2nd largest holding. Penserra Capital Management LLC’s holdings in Baidu were worth $23,058,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the business. Harbor Advisors LLC acquired a new position in shares of Baidu in the 3rd quarter valued at $248,000. BARING ASSET MANAGEMENT Ltd acquired a new position in shares of Baidu in the 3rd quarter valued at $20,311,000. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Baidu by 19.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 10,493 shares of the information services provider’s stock valued at $2,599,000 after purchasing an additional 1,742 shares during the period. Pictet Asset Management Ltd. lifted its stake in shares of Baidu by 4.0% in the 3rd quarter. Pictet Asset Management Ltd. now owns 901,323 shares of the information services provider’s stock valued at $223,249,000 after purchasing an additional 34,334 shares during the period. Finally, Calamos Advisors LLC lifted its stake in shares of Baidu by 1.5% in the 3rd quarter. Calamos Advisors LLC now owns 46,915 shares of the information services provider’s stock valued at $11,620,000 after purchasing an additional 700 shares during the period. 64.64% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently commented on BIDU. Oppenheimer Holdings, Inc. raised their price objective on Baidu from $250.00 to $295.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 31st. Barclays PLC set a $240.00 target price on Baidu and gave the stock a “hold” rating in a report on Monday, October 30th. J P Morgan Chase & Co decreased their price objective on Baidu from $230.00 to $225.00 and set a “neutral” rating for the company in a report on Monday, October 30th. Vetr raised shares of Baidu from a “buy” rating to a “strong-buy” rating and set a $277.19 target price on the stock in a research note on Monday, October 30th. Finally, OTR Global raised shares of Baidu to a “positive” rating in a research note on Wednesday, October 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $234.70.
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Shares of Baidu, Inc. (BIDU) traded down $0.03 during mid-day trading on Tuesday, hitting $237.37. 1,712,800 shares of the company were exchanged, compared to its average volume of 2,587,511. Baidu, Inc. has a 12 month low of $160.61 and a 12 month high of $274.97. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.34. The stock has a market cap of $81,290.00, a PE ratio of 30.05, a P/E/G ratio of 1.41 and a beta of 1.94.
Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.
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