Quinn Opportunity Partners LLC Reduces Holdings in Baidu, Inc. $BIDU

Quinn Opportunity Partners LLC lowered its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 32.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,000 shares of the information services provider’s stock after selling 43,000 shares during the period. Baidu comprises about 0.8% of Quinn Opportunity Partners LLC’s holdings, making the stock its 26th largest position. Quinn Opportunity Partners LLC’s holdings in Baidu were worth $11,728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Binnacle Investments Inc acquired a new stake in shares of Baidu in the 2nd quarter valued at about $29,000. Mizuho Securities Co. Ltd. purchased a new position in Baidu during the 2nd quarter worth approximately $43,000. UMB Bank n.a. increased its position in Baidu by 65.0% during the third quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after buying an additional 134 shares during the period. Ameritas Advisory Services LLC increased its position in Baidu by 12,400.0% during the third quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock worth $49,000 after buying an additional 372 shares during the period. Finally, Mondrian Investment Partners LTD purchased a new stake in Baidu in the third quarter valued at approximately $80,000.

Baidu Trading Up 0.7%

Shares of BIDU stock opened at $124.07 on Friday. The company has a market capitalization of $42.86 billion, a P/E ratio of 78.03 and a beta of 0.32. The company has a current ratio of 1.76, a quick ratio of 1.91 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $140.63 and its two-hundred day moving average is $128.34. Baidu, Inc. has a twelve month low of $74.71 and a twelve month high of $165.30.

Analysts Set New Price Targets

BIDU has been the subject of several research analyst reports. Barclays decreased their price objective on Baidu from $147.00 to $128.00 and set an “equal weight” rating for the company in a report on Thursday, March 5th. Wall Street Zen cut shares of Baidu from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. The Goldman Sachs Group upped their price target on shares of Baidu from $154.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Citigroup reiterated a “buy” rating on shares of Baidu in a research note on Tuesday, January 13th. Finally, Susquehanna raised their price objective on shares of Baidu from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.89.

About Baidu

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.