Virtu Financial LLC Makes New $2.59 Million Investment in Baidu, Inc. (NASDAQ:BIDU)

Virtu Financial LLC purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 29,966 shares of the information services provider’s stock, valued at approximately $2,591,000.

Other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB boosted its position in Baidu by 14.5% during the first quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock worth $42,125,000 after purchasing an additional 50,599 shares during the period. Trexquant Investment LP bought a new stake in shares of Baidu during the 4th quarter worth $1,476,000. SRN Advisors LLC grew its stake in Baidu by 111.5% in the 1st quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock valued at $1,652,000 after buying an additional 8,272 shares during the last quarter. Perpetual Ltd raised its holdings in Baidu by 45.4% in the 1st quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock worth $15,451,000 after acquiring an additional 45,975 shares during the period. Finally, SPX Gestao de Recursos Ltda bought a new stake in Baidu during the fourth quarter valued at about $11,028,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Citigroup dropped their price objective on Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Barclays cut their price target on Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Loop Capital lowered their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Jefferies Financial Group cut their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Susquehanna decreased their price target on shares of Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.13.

Baidu Price Performance

Baidu stock opened at $84.08 on Tuesday. The business has a 50 day simple moving average of $87.27 and a 200 day simple moving average of $95.62. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The company has a market capitalization of $29.48 billion, a PE ratio of 11.26 and a beta of 0.48. Baidu, Inc. has a one year low of $79.68 and a one year high of $136.53.

Baidu Profile

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.