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Fluent Financial LLC Boosts Stake in Baidu, Inc. $BIDU

Baidu logo with Computer and Technology background

Key Points

  • Fluent Financial LLC boosted its stake in Baidu, Inc. by 16.2% during the second quarter, acquiring an additional 3,286 shares, bringing its total holdings to 23,606 shares valued at approximately $2,024,000.
  • Other hedge funds are also increasing their investments in Baidu, with Royal Bank of Canada raising its holdings by 28.3% and acquiring 35,479 additional shares.
  • Baidu's stock has experienced fluctuations, currently trading around $137.90, with a consensus rating from analysts ranging from "Hold" to "Sell" amid varying sentiments on its future performance.
  • MarketBeat previews top five stocks to own in November.

Fluent Financial LLC increased its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 16.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,606 shares of the information services provider's stock after acquiring an additional 3,286 shares during the period. Fluent Financial LLC's holdings in Baidu were worth $2,024,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of Baidu by 28.3% during the 1st quarter. Royal Bank of Canada now owns 160,713 shares of the information services provider's stock valued at $14,791,000 after buying an additional 35,479 shares in the last quarter. Capital Advisors Inc. OK bought a new position in Baidu during the second quarter valued at approximately $1,715,000. Greenwood Capital Associates LLC raised its stake in shares of Baidu by 36.9% during the second quarter. Greenwood Capital Associates LLC now owns 38,976 shares of the information services provider's stock worth $3,343,000 after acquiring an additional 10,501 shares in the last quarter. Integrity Alliance LLC. bought a new stake in shares of Baidu in the 1st quarter worth approximately $247,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Baidu in the 1st quarter valued at $922,000.

Baidu Stock Down 0.7%

Shares of NASDAQ BIDU opened at $137.90 on Thursday. The firm has a fifty day simple moving average of $108.26 and a two-hundred day simple moving average of $94.43. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $149.51. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $47.64 billion, a PE ratio of 12.71 and a beta of 0.42.

Wall Street Analysts Forecast Growth

BIDU has been the topic of a number of analyst reports. Wall Street Zen cut shares of Baidu from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Zacks Research upgraded Baidu from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 16th. Nomura increased their target price on Baidu from $91.00 to $135.00 and gave the company a "neutral" rating in a report on Monday, September 22nd. CLSA raised Baidu to a "strong-buy" rating in a research note on Monday, September 22nd. Finally, Barclays cut their target price on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $122.42.

Get Our Latest Stock Report on Baidu

Baidu Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding BIDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baidu, Inc. (NASDAQ:BIDU - Free Report).

Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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