683 Capital Management LLC Has $16.34 Million Stock Holdings in Baidu, Inc. $BIDU

Key Points

• 683 Capital Management LLC increased its holdings in Baidu, Inc. by 4.4% in Q1, now owning 177,500 shares valued at approximately $16.34 million.
• Several large investors have also increased their positions in Baidu, with Northern Trust Corp raising its holdings by 68.9% during the previous quarter.
• Wall Street analysts have a consensus rating of "Hold" on Baidu, with price targets ranging from $81.00 to $110.00 after recent adjustments.

683 Capital Management LLC increased its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 4.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 177,500 shares of the information services provider's stock after acquiring an additional 7,500 shares during the period. Baidu makes up 1.1% of 683 Capital Management LLC's investment portfolio, making the stock its 19th largest position. 683 Capital Management LLC owned about 0.05% of Baidu worth $16,335,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in Baidu during the first quarter valued at approximately $922,000. Janney Montgomery Scott LLC bought a new stake in shares of Baidu in the first quarter worth $274,000. Ameriprise Financial Inc. increased its stake in shares of Baidu by 7.5% in the fourth quarter. Ameriprise Financial Inc. now owns 45,949 shares of the information services provider's stock worth $3,874,000 after buying an additional 3,200 shares during the last quarter. Cantor Fitzgerald L. P. increased its stake in Baidu by 1,510.9% during the fourth quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock valued at $33,722,000 after purchasing an additional 375,145 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in Baidu by 19.4% during the fourth quarter. Nuveen Asset Management LLC now owns 166,858 shares of the information services provider's stock valued at $14,068,000 after purchasing an additional 27,057 shares during the last quarter.

Wall Street Analysts Forecast Growth

BIDU has been the subject of several analyst reports. Susquehanna boosted their price target on shares of Baidu from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Tuesday. Macquarie reissued a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Jefferies Financial Group reduced their price objective on shares of Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Barclays reduced their price objective on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a research note on Friday, July 18th. Finally, Benchmark dropped their target price on Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, August 21st. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Baidu presently has a consensus rating of "Hold" and an average price target of $104.00.

Baidu Stock Performance

BIDU stock traded up $3.75 during midday trading on Friday, hitting $101.96. The stock had a trading volume of 7,269,151 shares, compared to its average volume of 4,633,028. The firm has a market capitalization of $35.22 billion, a price-to-earnings ratio of 9.40 and a beta of 0.34. Baidu, Inc. has a 52 week low of $74.71 and a 52 week high of $116.25. The stock has a 50-day simple moving average of $89.58 and a 200 day simple moving average of $88.58. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19.

Baidu Company 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.