Quadrant Capital Group LLC Raises Position in Baidu Inc. (BIDU)
Quadrant Capital Group LLC increased its position in shares of Baidu Inc. (NASDAQ:BIDU) by 13.6% during the second quarter, Holdings Channel reports. The firm owned 1,109 shares of the company’s stock after buying an additional 133 shares during the period. Quadrant Capital Group LLC’s holdings in Baidu were worth $180,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Cornerstone Advisors Inc. raised its stake in Baidu by 0.8% in the second quarter. Cornerstone Advisors Inc. now owns 605 shares of the company’s stock worth $100,000 after buying an additional 5 shares during the period. Huntington National Bank raised its stake in Baidu by 38.2% in the second quarter. Huntington National Bank now owns 622 shares of the company’s stock worth $103,000 after buying an additional 172 shares during the period. WealthTrust Arizona LLC raised its stake in Baidu by 12.1% in the second quarter. WealthTrust Arizona LLC now owns 777 shares of the company’s stock worth $128,000 after buying an additional 84 shares during the period. Barnett & Company Inc. bought a new stake in Baidu during the first quarter worth about $164,000. Finally, Rehmann Capital Advisory Group bought a new stake in Baidu during the first quarter worth about $202,000. Institutional investors and hedge funds own 63.21% of the company’s stock.
Shares of Baidu Inc. (NASDAQ:BIDU) traded down 1.41% during trading on Thursday, hitting $181.52. The stock had a trading volume of 1,756,451 shares. The stock’s 50 day moving average is $182.02 and its 200 day moving average is $175.29. The stock has a market capitalization of $62.91 billion, a price-to-earnings ratio of 13.36 and a beta of 2.17. Baidu Inc. has a 52 week low of $139.61 and a 52 week high of $217.97.
A number of equities research analysts have recently issued reports on the company. Vetr lowered Baidu from a “strong-buy” rating to a “buy” rating and set a $181.65 target price for the company. in a research note on Tuesday, July 26th. Brean Capital reiterated a “buy” rating and issued a $220.00 target price (down previously from $235.00) on shares of Baidu in a research note on Wednesday, June 15th. Goldman Sachs Group Inc. lowered their target price on Baidu from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, June 14th. Piper Jaffray Cos. restated an “overweight” rating and set a $215.00 price objective (down previously from $235.00) on shares of Baidu in a research note on Tuesday, June 14th. Finally, TH Capital lowered Baidu from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $195.46.
Baidu Company Profile
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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