6,252 Shares in Baidu, Inc. (BIDU) Acquired by Quantitative Systematic Strategies LLC
Quantitative Systematic Strategies LLC acquired a new position in Baidu, Inc. (NASDAQ:BIDU) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,252 shares of the information services provider’s stock, valued at approximately $1,549,000.
A number of other hedge funds have also recently bought and sold shares of the stock. Sit Investment Associates Inc. acquired a new stake in Baidu in the 3rd quarter worth about $295,000. Park National Corp OH acquired a new stake in Baidu in the 3rd quarter worth about $218,000. Perpetual Ltd acquired a new stake in Baidu in the 2nd quarter worth about $9,621,000. Oak Associates Ltd. OH acquired a new stake in Baidu in the 2nd quarter worth about $1,458,000. Finally, Cetera Investment Advisers acquired a new stake in Baidu in the 2nd quarter worth about $459,000. Institutional investors own 64.09% of the company’s stock.
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Shares of Baidu, Inc. (NASDAQ:BIDU) traded up 0.14% during mid-day trading on Friday, reaching $264.90. The company’s stock had a trading volume of 2,115,484 shares. The company has a market capitalization of $91.86 billion, a price-to-earnings ratio of 48.29 and a beta of 1.99. Baidu, Inc. has a 1-year low of $159.54 and a 1-year high of $269.80. The firm’s 50 day moving average price is $245.49 and its 200-day moving average price is $206.09.
Several research firms recently issued reports on BIDU. Barclays PLC set a $250.00 price objective on Baidu and gave the stock a “hold” rating in a report on Thursday. Jefferies Group LLC lifted their price objective on Baidu from $232.00 to $305.00 and gave the stock a “buy” rating in a report on Friday. Vetr cut Baidu from a “strong-buy” rating to a “buy” rating and set a $265.83 price objective on the stock. in a report on Tuesday, September 19th. Citigroup Inc. reiterated a “hold” rating and issued a $253.00 price objective on shares of Baidu in a report on Thursday, September 14th. Finally, HSBC Holdings plc reiterated a “buy” rating and issued a $282.00 price objective (up from $245.00) on shares of Baidu in a report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. Baidu presently has a consensus rating of “Buy” and an average target price of $229.45.
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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