DLK Investment Management LLC Buys New Stake in Baidu, Inc. (NASDAQ:BIDU)

DLK Investment Management LLC bought a new stake in Baidu, Inc. (NASDAQ:BIDU) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 2,310 shares of the information services provider’s stock, valued at approximately $243,000.

A number of other hedge funds have also recently modified their holdings of BIDU. Crewe Advisors LLC acquired a new stake in Baidu during the 1st quarter worth $31,000. iA Global Asset Management Inc. acquired a new stake in Baidu during the 2nd quarter worth $52,000. Silicon Valley Capital Partners acquired a new stake in Baidu during the 1st quarter worth $53,000. Accent Capital Management LLC acquired a new stake in Baidu during the 4th quarter worth $66,000. Finally, Denver PWM LLC acquired a new stake in Baidu during the 2nd quarter worth $67,000.

Baidu Trading Up 0.8 %

Shares of NASDAQ BIDU traded up $0.84 during midday trading on Friday, reaching $104.91. 1,762,565 shares of the stock were exchanged, compared to its average volume of 3,614,124. The company has a market capitalization of $36.79 billion, a P/E ratio of 13.52 and a beta of 0.49. Baidu, Inc. has a 52-week low of $79.68 and a 52-week high of $134.04. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average price of $90.32 and a 200-day moving average price of $95.47.

Analyst Ratings Changes

A number of analysts recently weighed in on BIDU shares. HSBC cut shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research note on Tuesday, September 24th. Barclays reduced their target price on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Bank of America reduced their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Citigroup reduced their target price on shares of Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.13.

About Baidu

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.