Exchange Traded Concepts LLC Acquires 20,019 Shares of Baidu, Inc. (NASDAQ:BIDU)

Exchange Traded Concepts LLC increased its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 22.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,186 shares of the information services provider's stock after buying an additional 20,019 shares during the quarter. Exchange Traded Concepts LLC's holdings in Baidu were worth $9,374,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in Baidu by 630.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider's stock valued at $72,000 after acquiring an additional 593 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of Baidu in the 3rd quarter valued at $72,000. Grove Bank & Trust raised its holdings in shares of Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock worth $77,000 after buying an additional 130 shares in the last quarter. Transamerica Financial Advisors Inc. bought a new stake in shares of Baidu during the 3rd quarter worth $82,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Baidu by 102.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider's stock valued at $97,000 after buying an additional 555 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have recently commented on BIDU shares. StockNews.com raised shares of Baidu from a "hold" rating to a "buy" rating in a report on Friday, December 27th. Benchmark reissued a "buy" rating and issued a $130.00 price objective on shares of Baidu in a research note on Friday. Citigroup decreased their target price on shares of Baidu from $142.00 to $141.00 and set a "buy" rating on the stock in a research note on Friday, November 29th. China Renaissance cut Baidu from a "buy" rating to a "hold" rating and set a $86.00 price target for the company. in a research note on Monday, November 25th. Finally, Dbs Bank lowered Baidu from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 3rd. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $113.75.

Baidu Trading Up 4.6 %

BIDU stock traded up $3.83 during trading on Friday, hitting $86.40. The company had a trading volume of 3,991,747 shares, compared to its average volume of 2,343,746. The stock has a market cap of $30.30 billion, a PE ratio of 10.58, a PEG ratio of 1.90 and a beta of 0.46. The business has a 50-day moving average of $84.95 and a 200-day moving average of $88.83. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu, Inc. has a one year low of $77.19 and a one year high of $116.25.

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.