Miracle Mile Advisors LLC reduced its holdings in Baidu, Inc. (NASDAQ:BIDU – Get Rating) by 29.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,442 shares of the information services provider's stock after selling 1,000 shares during the period. Miracle Mile Advisors LLC's holdings in Baidu were worth $363,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIDU. Hardy Reed LLC acquired a new stake in Baidu in the 1st quarter valued at $30,000. Sargent Bickham Lagudis LLC lifted its stake in Baidu by 2,025.0% in the 2nd quarter. Sargent Bickham Lagudis LLC now owns 255 shares of the information services provider's stock valued at $38,000 after purchasing an additional 243 shares during the last quarter. Trustcore Financial Services LLC lifted its stake in Baidu by 342.5% in the 1st quarter. Trustcore Financial Services LLC now owns 323 shares of the information services provider's stock valued at $43,000 after purchasing an additional 250 shares during the last quarter. FourThought Financial LLC grew its holdings in Baidu by 61.7% during the first quarter. FourThought Financial LLC now owns 359 shares of the information services provider's stock worth $47,000 after purchasing an additional 137 shares during the period. Finally, Prospera Financial Services Inc acquired a new position in Baidu during the first quarter worth approximately $52,000. 26.55% of the stock is currently owned by institutional investors and hedge funds.
Get Baidu alerts:Baidu Stock Down 0.1 %
Shares of NASDAQ BIDU opened at $118.75 on Monday. The stock has a market capitalization of $41.03 billion, a P/E ratio of -20.72, a PEG ratio of 0.89 and a beta of 0.66. The stock's fifty day moving average is $136.15 and its 200 day moving average is $135.88. Baidu, Inc. has a 52 week low of $101.62 and a 52 week high of $182.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.75.
Analyst Ratings Changes
BIDU has been the subject of several research analyst reports. UBS Group assumed coverage on Baidu in a research note on Friday, September 16th. They set a "buy" rating for the company. Macquarie began coverage on shares of Baidu in a report on Tuesday, August 23rd. They issued an "outperform" rating and a $188.00 price objective on the stock. JPMorgan Chase & Co. raised shares of Baidu from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $160.00 to $200.00 in a research report on Wednesday, August 31st. Susquehanna reduced their target price on shares of Baidu from $200.00 to $195.00 and set a "positive" rating for the company in a report on Monday, September 12th. Finally, Susquehanna Bancshares lowered their price target on shares of Baidu from $200.00 to $195.00 and set a "positive" rating on the stock in a report on Monday, September 12th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $217.87.Baidu Profile
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Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. 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; and Haokan, a short video app.
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