Infini Capital Management Ltd Has $7.52 Million Stock Holdings in Baidu, Inc. (NASDAQ:BIDU)

Infini Capital Management Ltd lessened its holdings in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 54.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,736 shares of the information services provider's stock after selling 98,624 shares during the quarter. Baidu accounts for 7.6% of Infini Capital Management Ltd's portfolio, making the stock its 3rd largest position. Infini Capital Management Ltd's holdings in Baidu were worth $7,522,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new stake in shares of Baidu during the 1st quarter valued at about $922,000. Ameriprise Financial Inc. lifted its holdings in 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 purchasing an additional 3,200 shares during the period. Diametric Capital LP lifted its holdings in Baidu by 51.9% in the fourth quarter. Diametric Capital LP now owns 8,218 shares of the information services provider's stock worth $693,000 after purchasing an additional 2,809 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Baidu in the first quarter worth about $274,000. Finally, Cantor Fitzgerald L. P. lifted its holdings in Baidu by 1,510.9% in the 4th quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock valued at $33,722,000 after acquiring an additional 375,145 shares during the last quarter.

Baidu Stock Performance

Shares of BIDU traded up $3.44 during mid-day trading on Monday, hitting $89.79. The company's stock had a trading volume of 6,780,937 shares, compared to its average volume of 4,107,900. Baidu, Inc. has a one year low of $74.71 and a one year high of $116.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.29 and a current ratio of 2.29. The firm has a market capitalization of $31.02 billion, a PE ratio of 8.91 and a beta of 0.33. The stock's 50-day moving average is $86.77 and its two-hundred day moving average is $87.62.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Benchmark cut their price target on shares of Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. Barclays set a $84.00 price objective on Baidu and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. Macquarie restated a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Finally, Citigroup cut their price objective on Baidu from $139.00 to $138.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Baidu presently has a consensus rating of "Hold" and an average target price of $107.82.

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.