Hussman Strategic Advisors Inc. purchased a new position in Baidu, Inc. (NASDAQ:BIDU) during the second quarter, Holdings Channel reports. The firm purchased 10,000 shares of the information services provider’s stock, valued at approximately $1,789,000.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Baidu by 0.4% in the first quarter. Principal Financial Group Inc. now owns 1,346 shares of the information services provider’s stock worth $232,000 after buying an additional 6 shares during the period. IFP Advisors Inc raised its stake in Baidu by 0.6% in the first quarter. IFP Advisors Inc now owns 1,596 shares of the information services provider’s stock worth $275,000 after buying an additional 9 shares during the period. Boston Private Wealth LLC raised its stake in Baidu by 0.4% in the first quarter. Boston Private Wealth LLC now owns 2,018 shares of the information services provider’s stock worth $348,000 after buying an additional 9 shares during the period. Cambridge Advisors Inc. raised its stake in Baidu by 0.6% in the second quarter. Cambridge Advisors Inc. now owns 1,583 shares of the information services provider’s stock worth $283,000 after buying an additional 10 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in Baidu by 0.6% in the first quarter. Ameritas Investment Partners Inc. now owns 4,949 shares of the information services provider’s stock worth $854,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Shares of Baidu, Inc. (BIDU) opened at 227.16 on Tuesday. The firm has a 50 day moving average price of $187.72 and a 200 day moving average price of $181.17. The firm has a market cap of $78.77 billion, a P/E ratio of 42.85 and a beta of 1.95. Baidu, Inc. has a 1-year low of $159.54 and a 1-year high of $230.00.

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A number of research firms recently commented on BIDU. Jefferies Group LLC increased their price target on Baidu from $188.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. BidaskClub upgraded Baidu from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. ValuEngine upgraded Baidu from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Benchmark Co. began coverage on Baidu in a research report on Tuesday, April 18th. They set a “buy” rating and a $190.00 price target on the stock. Finally, Credit Suisse Group restated a “hold” rating and set a $180.00 price target on shares of Baidu in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $209.80.

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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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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