Hhlr Advisors LTD. Makes New $31.59 Million Investment in Baidu, Inc. (NASDAQ:BIDU)

Hhlr Advisors LTD. purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 300,000 shares of the information services provider's stock, valued at approximately $31,587,000. Baidu accounts for 0.7% of Hhlr Advisors LTD.'s investment portfolio, making the stock its 16th biggest holding. Hhlr Advisors LTD. owned about 0.09% of Baidu as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. iA Global Asset Management Inc. purchased a new position in Baidu in the 2nd quarter valued at approximately $52,000. Denver PWM LLC acquired a new position in shares of Baidu during the second quarter worth about $67,000. Allspring Global Investments Holdings LLC increased its position in shares of Baidu by 630.9% in 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 during the last quarter. Grove Bank & Trust increased its holdings in Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock valued at $77,000 after buying an additional 130 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new stake in Baidu in the third quarter valued at $82,000.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Mizuho lowered their price objective on Baidu from $130.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. Jefferies Financial Group reduced their price objective on shares of Baidu from $174.00 to $139.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. Sanford C. Bernstein downgraded shares of Baidu from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Barclays cut shares of Baidu from an "overweight" rating to an "equal weight" rating in a research report on Friday, November 22nd. Finally, Loop Capital dropped their price objective on Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, August 26th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Baidu has an average rating of "Hold" and an average target price of $113.75.

Baidu Stock Performance

Shares of NASDAQ BIDU traded up $0.23 during mid-day trading on Friday, hitting $85.05. 2,495,743 shares of the company were exchanged, compared to its average volume of 3,630,001. The stock has a 50 day simple moving average of $93.57 and a 200-day simple moving average of $91.63. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu, Inc. has a 1-year low of $78.95 and a 1-year high of $120.25. The firm has a market cap of $29.82 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 1.11 and a beta of 0.51.

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.