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

Hhlr Advisors LTD. purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU) in the third quarter, Holdings Channel.com reports. The fund purchased 300,000 shares of the information services provider’s stock, valued at approximately $31,587,000. Baidu makes up approximately 0.7% of Hhlr Advisors LTD.’s portfolio, making the stock its 16th largest position.

Other institutional investors also recently modified their holdings of the company. iA Global Asset Management Inc. acquired a new position in shares of Baidu during the 2nd quarter worth $52,000. Allspring Global Investments Holdings LLC raised its holdings 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 in the last quarter. 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. Denver PWM LLC acquired a new position in shares of Baidu during the 2nd quarter worth $67,000. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of Baidu during the 3rd quarter worth $82,000.

Baidu Trading Up 0.3 %

BIDU opened at $85.05 on Friday. Baidu, Inc. has a twelve month low of $78.95 and a twelve month high of $120.25. The company has a fifty day moving average of $93.57 and a 200-day moving average of $91.75. The stock has a market cap of $29.82 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 1.11 and a beta of 0.51. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Jefferies Financial Group lowered their price target on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. HSBC lowered Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research note on Tuesday, September 24th. Barclays downgraded Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday, November 22nd. Benchmark cut their target price on shares of Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, Loop Capital decreased their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $113.75.

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.