Y Intercept Hong Kong Ltd Invests $3.66 Million in Baidu, Inc. (NASDAQ:BIDU)

Y Intercept Hong Kong Ltd bought a new stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 34,761 shares of the information services provider's stock, valued at approximately $3,660,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. iA Global Asset Management Inc. acquired a new stake in Baidu in the second quarter worth about $52,000. Denver PWM LLC acquired a new stake in shares of Baidu during the 2nd quarter worth approximately $67,000. Allspring Global Investments Holdings LLC grew 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 worth $72,000 after buying an additional 593 shares during the period. Grove Bank & Trust raised its stake in shares of Baidu by 21.6% during 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, Transamerica Financial Advisors Inc. acquired a new position in Baidu in the third quarter valued at approximately $82,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BIDU. Susquehanna lowered shares of Baidu from a "positive" rating to a "neutral" rating and lowered their target price for the stock from $105.00 to $85.00 in a report on Monday, November 25th. China Renaissance downgraded Baidu from a "buy" rating to a "hold" rating and set a $86.00 price objective for the company. in a report on Monday, November 25th. Hsbc Global Res lowered Baidu from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 24th. Loop Capital decreased their target price on Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, August 26th. Finally, Citigroup reduced their price objective 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. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $113.75.

Baidu Stock Up 7.6 %

Shares of NASDAQ:BIDU traded up $6.61 during midday trading on Monday, reaching $93.04. 8,270,380 shares of the company were exchanged, compared to its average volume of 3,616,064. The firm has a market cap of $32.62 billion, a PE ratio of 11.39, a P/E/G ratio of 1.13 and a beta of 0.46. Baidu, Inc. has a fifty-two week low of $78.95 and a fifty-two week high of $120.25. The stock has a fifty day simple moving average of $92.21 and a two-hundred day simple moving average of $90.66. 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 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.