DRW Securities LLC Purchases New Shares in Baidu, Inc. (NASDAQ:BIDU)

DRW Securities LLC purchased a new stake in Baidu, Inc. (NASDAQ:BIDU) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 9,498 shares of the information services provider’s stock, valued at approximately $1,000,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Baidu in the 3rd quarter valued at $1,054,000. SRN Advisors LLC lifted its stake in Baidu by 111.5% in the 1st quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock worth $1,652,000 after acquiring an additional 8,272 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Baidu by 8.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock worth $19,249,000 after purchasing an additional 15,000 shares in the last quarter. Clear Harbor Asset Management LLC raised its stake in shares of Baidu by 82.9% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock worth $2,159,000 after purchasing an additional 9,292 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Baidu during the 2nd quarter worth about $606,000.

Wall Street Analyst Weigh In

BIDU has been the subject of a number of recent research reports. Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and cut their price target for the stock from $105.00 to $85.00 in a research note on Monday. Bank of America cut their price target on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. China Renaissance downgraded Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research note on Monday. Hsbc Global Res lowered Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Sanford C. Bernstein lowered Baidu from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $130.00 to $97.00 in a report on Friday, August 23rd. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Baidu has a consensus rating of “Hold” and a consensus price target of $114.92.

Baidu Stock Performance

BIDU opened at $82.67 on Tuesday. Baidu, Inc. has a 12-month low of $78.95 and a 12-month high of $126.23. The firm has a market capitalization of $28.99 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 1.03 and a beta of 0.51. The stock’s 50 day moving average price is $93.67 and its two-hundred day moving average price is $92.22. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18.

Baidu 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.