Loomis Sayles & Co. L P Trims Position in Baidu, Inc. (NASDAQ:BIDU)

Loomis Sayles & Co. L P cut its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 257,581 shares of the information services provider's stock after selling 8,442 shares during the quarter. Loomis Sayles & Co. L P owned about 0.07% of Baidu worth $27,121,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BIDU. iA Global Asset Management Inc. bought a new position in Baidu during the second quarter worth $52,000. Denver PWM LLC bought a new position in Baidu during the 2nd quarter valued at $67,000. Allspring Global Investments Holdings LLC boosted its position in shares of Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider's stock valued at $72,000 after purchasing an additional 593 shares in the last quarter. Grove Bank & Trust grew its position in Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock worth $77,000 after buying an additional 130 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Baidu by 102.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider's stock valued at $97,000 after purchasing an additional 555 shares during the last quarter.

Baidu Stock Up 1.0 %

Shares of BIDU traded up $0.84 during trading hours on Tuesday, reaching $83.51. The stock had a trading volume of 3,127,370 shares, compared to its average volume of 3,633,648. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The firm has a 50-day simple moving average of $93.63 and a 200 day simple moving average of $92.04. Baidu, Inc. has a 12 month low of $78.95 and a 12 month high of $126.23. The company has a market capitalization of $29.28 billion, a price-to-earnings ratio of 10.22, a P/E/G ratio of 1.03 and a beta of 0.51.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BIDU shares. Mizuho dropped their price target on Baidu from $130.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 12th. StockNews.com lowered Baidu from a "buy" rating to a "hold" rating in a report on Friday, October 25th. China Renaissance lowered shares of Baidu from a "buy" rating to a "hold" rating and set a $86.00 target price for the company. in a research report on Monday. Jefferies Financial Group decreased their price target on shares of Baidu from $174.00 to $139.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Finally, Dbs Bank downgraded shares of Baidu from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 3rd. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $114.92.

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.