SRN Advisors LLC Decreases Stake in Baidu, Inc. (NASDAQ:BIDU)

SRN Advisors LLC lessened its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 13.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,332 shares of the information services provider’s stock after selling 2,432 shares during the period. Baidu accounts for approximately 1.4% of SRN Advisors LLC’s investment portfolio, making the stock its 20th biggest position. SRN Advisors LLC’s holdings in Baidu were worth $1,614,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Park Avenue Securities LLC acquired a new stake in shares of Baidu in the first quarter valued at approximately $559,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Baidu by 28.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the information services provider’s stock valued at $619,000 after acquiring an additional 1,307 shares during the last quarter. Mirador Capital Partners LP acquired a new position in shares of Baidu during the 1st quarter valued at about $213,000. Cullinan Associates Inc. purchased a new stake in shares of Baidu in the first quarter valued at about $569,000. Finally, Naviter Wealth LLC increased its position in Baidu by 44.5% during the first quarter. Naviter Wealth LLC now owns 6,367 shares of the information services provider’s stock worth $670,000 after purchasing an additional 1,962 shares during the last quarter.

Baidu Trading Up 0.3 %

BIDU opened at $89.79 on Friday. The business has a fifty day moving average price of $92.27 and a 200 day moving average price of $94.46. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. Baidu, Inc. has a 12 month low of $79.68 and a 12 month high of $126.23. The stock has a market capitalization of $31.48 billion, a price-to-earnings ratio of 12.02 and a beta of 0.49.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research note on Friday. Bank of America reduced their target price on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Loop Capital decreased their price target on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Barclays cut their price objective on Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Finally, Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Baidu has a consensus rating of “Moderate Buy” and an average target price of $128.36.

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.