Insigneo Advisory Services LLC Invests $825,000 in Baidu, Inc. (NASDAQ:BIDU)

Insigneo Advisory Services LLC acquired a new stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,965 shares of the information services provider's stock, valued at approximately $825,000.

Several other hedge funds have also added to or reduced their stakes in the business. UMB Bank n.a. lifted its stake in Baidu by 80.3% in the first 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. Rialto Wealth Management LLC bought a new stake in Baidu in the 4th quarter valued at $42,000. CX Institutional acquired a new position in Baidu in the 1st quarter worth $49,000. GeoWealth Management LLC raised its stake in shares of Baidu by 88.5% in the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock valued at $55,000 after purchasing an additional 308 shares during the period. Finally, Investors Research Corp lifted its holdings in shares of Baidu by 20.5% in the first quarter. Investors Research Corp now owns 1,760 shares of the information services provider's stock valued at $162,000 after purchasing an additional 300 shares in the last quarter.

Wall Street Analysts Forecast Growth

BIDU has been the subject of a number of research reports. Nomura downgraded Baidu from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Benchmark cut their price objective on shares of Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Citigroup reduced their target price on shares of Baidu from $139.00 to $138.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. Wall Street Zen lowered shares of Baidu from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, Macquarie restated a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Baidu currently has an average rating of "Hold" and an average price target of $107.82.

Baidu Stock Performance

Shares of NASDAQ:BIDU traded down $1.47 on Thursday, hitting $84.54. The company had a trading volume of 1,662,075 shares, compared to its average volume of 4,116,977. The stock has a market cap of $29.20 billion, a price-to-earnings ratio of 8.39 and a beta of 0.33. The stock has a 50 day moving average price of $86.48 and a 200 day moving average price of $87.83. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $116.25. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.27.

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.