Baidu, Inc. $BIDU Shares Purchased by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC increased its stake in Baidu, Inc. by 25.0%, owning 77,899 shares worth approximately $6.68 million after a recent purchase during the 2nd quarter.
• Several institutional investors, including the Royal Bank of Canada, have also augmented their positions in Baidu, demonstrating growing interest in the stock.
• Baidu's stock has shown a modest increase of 0.1% recently, with a current market cap of $46.76 billion and an average analyst rating of "Hold".

Exchange Traded Concepts LLC lifted its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 25.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,899 shares of the information services provider's stock after buying an additional 15,584 shares during the period. Exchange Traded Concepts LLC's holdings in Baidu were worth $6,681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Creekmur Asset Management LLC purchased a new stake in Baidu during the 1st quarter worth $29,000. Assetmark Inc. boosted its position in Baidu by 143.3% during the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock worth $30,000 after purchasing an additional 192 shares during the period. UMB Bank n.a. boosted its position in Baidu by 80.3% during the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock worth $37,000 after purchasing an additional 179 shares during the period. CX Institutional purchased a new stake in Baidu during the 1st quarter worth $49,000. Finally, Parallel Advisors LLC boosted its position in Baidu by 17.0% during the 2nd quarter. Parallel Advisors LLC now owns 935 shares of the information services provider's stock worth $80,000 after purchasing an additional 136 shares during the period.

Baidu Stock Down 6.0%

Shares of BIDU stock traded down $8.25 during trading hours on Tuesday, hitting $128.38. 3,328,009 shares of the company were exchanged, compared to its average volume of 4,752,525. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.85 and a current ratio of 1.85. Baidu, Inc. has a one year low of $74.71 and a one year high of $141.60. The business's 50-day simple moving average is $97.06 and its two-hundred day simple moving average is $91.04. The stock has a market capitalization of $44.35 billion, a price-to-earnings ratio of 11.84 and a beta of 0.34.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays decreased their price target on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a research report on Friday, July 18th. Susquehanna upped their price objective on shares of Baidu from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Tuesday, September 2nd. Arete Research raised shares of Baidu from a "sell" rating to a "buy" rating and set a $143.00 price objective for the company in a research report on Tuesday, September 16th. Jefferies Financial Group upped their price objective on shares of Baidu from $108.00 to $157.00 and gave the company a "buy" rating in a research report on Wednesday, September 17th. Finally, Citigroup upped their price objective on shares of Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $116.00.

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.