Janus Capital Management LLC Has $2.54 Million Position in Baidu, Inc. (NASDAQ:BIDU)
Janus Capital Management LLC cut its stake in Baidu, Inc. (NASDAQ:BIDU) by 1.9% during the first quarter, Holdings Channel reports. The institutional investor owned 14,715 shares of the information services provider’s stock after selling 288 shares during the period. Janus Capital Management LLC’s holdings in Baidu were worth $2,538,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Barnett & Company Inc. raised its stake in shares of Baidu by 10.3% in the first quarter. Barnett & Company Inc. now owns 800 shares of the information services provider’s stock valued at $138,000 after buying an additional 75 shares in the last quarter. IHT Wealth Management LLC boosted its position in Baidu by 6.0% in the first quarter. IHT Wealth Management LLC now owns 1,141 shares of the information services provider’s stock valued at $197,000 after buying an additional 65 shares during the last quarter. ProVise Management Group LLC acquired a new position in Baidu during the first quarter valued at about $202,000. Campbell & CO Investment Adviser LLC acquired a new position in Baidu during the first quarter valued at about $202,000. Finally, Raymond James Trust N.A. boosted its position in Baidu by 3.8% in the first quarter. Raymond James Trust N.A. now owns 1,321 shares of the information services provider’s stock valued at $228,000 after buying an additional 48 shares during the last quarter. 64.44% of the stock is currently owned by hedge funds and other institutional investors.
Baidu, Inc. (NASDAQ:BIDU) opened at 188.23 on Tuesday. The company has a 50 day moving average price of $183.83 and a 200-day moving average price of $177.30. Baidu, Inc. has a 52-week low of $156.23 and a 52-week high of $197.80. The firm has a market cap of $65.29 billion, a price-to-earnings ratio of 41.09 and a beta of 1.91.
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Several research analysts have recently issued reports on the company. Jefferies Group LLC set a $188.00 price target on Baidu and gave the stock a “buy” rating in a research note on Saturday, April 1st. BidaskClub raised Baidu from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Sanford C. Bernstein reissued an “underperform” rating and issued a $152.00 price target (down previously from $188.00) on shares of Baidu in a research note on Friday. Vetr cut Baidu from a “strong-buy” rating to a “buy” rating and set a $199.19 price target for the company. in a research note on Monday, May 8th. Finally, HSBC Holdings plc reissued a “buy” rating and issued a $223.00 price target on shares of Baidu in a research note on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $189.02.
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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