Greenwood Capital Associates LLC Takes $2.62 Million Position in Baidu, Inc. (NASDAQ:BIDU)

Greenwood Capital Associates LLC bought a new stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 28,475 shares of the information services provider's stock, valued at approximately $2,621,000.

Several other hedge funds have also bought and sold shares of BIDU. CX Institutional purchased a new stake in Baidu during the first quarter valued at approximately $49,000. SG Americas Securities LLC boosted its holdings in shares of Baidu by 20.4% during the 1st quarter. SG Americas Securities LLC now owns 459,260 shares of the information services provider's stock valued at $42,266,000 after purchasing an additional 77,804 shares during the last quarter. UMB Bank n.a. raised its position in shares of Baidu by 80.3% during the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock valued at $37,000 after buying an additional 179 shares in the last quarter. Prospect Financial Services LLC raised its position in shares of Baidu by 139.5% during the 1st quarter. Prospect Financial Services LLC now owns 22,776 shares of the information services provider's stock valued at $2,096,000 after buying an additional 13,266 shares in the last quarter. Finally, Intellectus Partners LLC raised its position in Baidu by 9.9% in the 1st quarter. Intellectus Partners LLC now owns 18,434 shares of the information services provider's stock worth $1,696,000 after purchasing an additional 1,661 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have commented on BIDU shares. Citigroup reduced 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. Mizuho upped their price objective on shares of Baidu from $95.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Nomura Securities cut shares of Baidu from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Sanford C. Bernstein restated a "market perform" rating on shares of Baidu in a report on Saturday, March 8th. Finally, Benchmark decreased their price target on shares of Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $107.82.

Baidu Stock Up 0.3%

BIDU stock traded up $0.26 during trading hours on Thursday, hitting $87.81. The company's stock had a trading volume of 1,763,691 shares, compared to its average volume of 4,135,016. 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 capitalization of $30.33 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 2.96 and a beta of 0.33. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $116.25. The stock has a 50 day moving average price of $85.74 and a two-hundred day moving average price of $87.75.

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.