FNY Investment Advisers LLC Acquires New Position in Baidu, Inc. (NASDAQ:BIDU)

FNY Investment Advisers LLC purchased a new stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,022 shares of the information services provider's stock, valued at approximately $922,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mcdonald Partners LLC lifted its holdings in shares of Baidu by 41.8% during the 4th quarter. Mcdonald Partners LLC now owns 4,114 shares of the information services provider's stock valued at $347,000 after acquiring an additional 1,212 shares in the last quarter. North of South Capital LLP lifted its stake in shares of Baidu by 18.9% during the fourth quarter. North of South Capital LLP now owns 614,847 shares of the information services provider's stock worth $51,838,000 after purchasing an additional 97,549 shares in the last quarter. Infini Capital Management Ltd lifted its stake in shares of Baidu by 1,510.4% during the fourth quarter. Infini Capital Management Ltd now owns 180,360 shares of the information services provider's stock worth $15,206,000 after purchasing an additional 169,160 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Baidu in the fourth quarter worth about $558,000. Finally, Todd Asset Management LLC grew its stake in shares of Baidu by 44.4% in the fourth quarter. Todd Asset Management LLC now owns 176,338 shares of the information services provider's stock valued at $14,867,000 after buying an additional 54,198 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BIDU shares. Benchmark reduced their price target on Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Barclays set a $84.00 target price on shares of Baidu and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Nomura lowered shares of Baidu from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Baidu in a research note on Saturday, March 8th. Finally, Macquarie reissued a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. 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, the company has an average rating of "Hold" and an average price target of $107.82.

Baidu Stock Performance

Shares of BIDU traded up $1.25 during mid-day trading on Monday, hitting $87.25. The stock had a trading volume of 2,207,449 shares, compared to its average volume of 4,126,142. Baidu, Inc. has a fifty-two week low of $74.71 and a fifty-two week high of $116.25. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. The company has a market cap of $30.14 billion, a PE ratio of 9.51, a PEG ratio of 2.96 and a beta of 0.33. The company's fifty day simple moving average is $86.08 and its two-hundred day simple moving average is $87.85.

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.