Meag Munich Ergo Kapitalanlagegesellschaft MBH reduced its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 13.2% during the second quarter, Holdings Channel reports. The firm owned 19,800 shares of the information services provider’s stock after selling 3,000 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Baidu were worth $3,550,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BIDU. Barnett & Company Inc. increased its position in 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. Integrated Investment Consultants LLC acquired a new position in Baidu during the second quarter valued at $152,000. IHT Wealth Management LLC increased 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 in the last quarter. ProVise Management Group LLC acquired a new position in Baidu during the first quarter valued at $202,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Baidu during the first quarter valued at $202,000. Institutional investors and hedge funds own 64.68% of the company’s stock.

Shares of Baidu, Inc. (NASDAQ BIDU) opened at 201.17 on Thursday. The stock’s 50 day moving average is $183.76 and its 200 day moving average is $179.98. Baidu, Inc. has a 12 month low of $156.23 and a 12 month high of $201.23. The stock has a market cap of $69.78 billion, a P/E ratio of 43.62 and a beta of 1.91. Baidu also was the target of unusually large options trading activity on Monday. Stock traders acquired 14,321 put options on the company. This is an increase of approximately 233% compared to the typical volume of 4,297 put options.

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Several equities analysts have recently weighed in on the stock. Deutsche Bank AG reissued a “hold” rating and issued a $201.00 price target (up from $186.00) on shares of Baidu in a research note on Wednesday. Jefferies Group LLC reaffirmed a “buy” rating and set a $208.00 target price on shares of Baidu in a research note on Saturday, July 22nd. Vetr downgraded shares of Baidu from a “strong-buy” rating to a “buy” rating and set a $199.19 target price on the stock. in a research note on Monday, May 8th. BidaskClub raised shares of Baidu from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $152.00 target price (down from $188.00) on shares of Baidu in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Baidu presently has a consensus rating of “Hold” and an average price target of $189.93.

About Baidu

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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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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