NuWave Investment Management LLC boosted its position in shares of Baidu Inc (NASDAQ:BIDU) by 152.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,171 shares of the information services provider’s stock after purchasing an additional 6,753 shares during the period. Baidu comprises about 1.4% of NuWave Investment Management LLC’s investment portfolio, making the stock its 13th biggest position. NuWave Investment Management LLC’s holdings in Baidu were worth $1,311,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BIDU. Comerica Securities Inc. increased its position in Baidu by 20.6% in the 4th quarter. Comerica Securities Inc. now owns 2,888 shares of the information services provider’s stock valued at $458,000 after acquiring an additional 493 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Baidu by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 628,173 shares of the information services provider’s stock worth $99,782,000 after buying an additional 12,720 shares during the period. Squarepoint Ops LLC grew its position in shares of Baidu by 239.9% during the 4th quarter. Squarepoint Ops LLC now owns 5,007 shares of the information services provider’s stock worth $794,000 after buying an additional 3,534 shares during the period. Cetera Advisor Networks LLC grew its position in shares of Baidu by 2.5% during the 4th quarter. Cetera Advisor Networks LLC now owns 2,654 shares of the information services provider’s stock worth $424,000 after buying an additional 65 shares during the period. Finally, Advisory Services Network LLC grew its position in shares of Baidu by 99.6% during the 4th quarter. Advisory Services Network LLC now owns 2,707 shares of the information services provider’s stock worth $429,000 after buying an additional 1,351 shares during the period. 59.29% of the stock is owned by hedge funds and other institutional investors.

BIDU traded down $1.01 during trading on Monday, reaching $113.21. The company had a trading volume of 37,879 shares, compared to its average volume of 2,629,820. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.76 and a current ratio of 2.76. Baidu Inc has a 12 month low of $106.80 and a 12 month high of $262.96. The company’s fifty day moving average price is $114.81. The stock has a market capitalization of $39.90 billion, a P/E ratio of 14.53, a P/E/G ratio of 6.16 and a beta of 1.64.

Baidu declared that its Board of Directors has authorized a share buyback plan on Thursday, May 16th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the information services provider to buy up to 1.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Several equities research analysts have recently commented on the stock. Credit Suisse Group set a GBX 3,090 ($40.38) price target on shares of Royal Dutch Shell and gave the stock a “buy” rating in a research report on Wednesday, July 17th. UBS Group reiterated a “hold” rating and set a $145.00 price target on shares of Baidu in a research report on Friday, July 5th. Nomura lowered their price target on shares of Baidu from $181.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, May 20th. Macquarie set a $131.00 price target on shares of Baidu and gave the stock a “hold” rating in a research report on Thursday, July 4th. Finally, CLSA set a $138.00 price target on shares of Baidu and gave the stock a “buy” rating in a research report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $178.17.

About Baidu

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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