Quantamental Technologies LLC Buys 2,268 Shares of Baidu Inc (NASDAQ:BIDU)

Quantamental Technologies LLC grew its stake in shares of Baidu Inc (NASDAQ:BIDU) by 252.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,168 shares of the information services provider’s stock after buying an additional 2,268 shares during the quarter. Quantamental Technologies LLC’s holdings in Baidu were worth $522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BIDU. Vanguard Group Inc grew its stake in shares of Baidu by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 9,668,953 shares of the information services provider’s stock worth $2,211,097,000 after purchasing an additional 104,819 shares during the period. Dodge & Cox lifted its holdings in Baidu by 12.6% in the 3rd quarter. Dodge & Cox now owns 3,821,913 shares of the information services provider’s stock valued at $873,995,000 after purchasing an additional 427,876 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Baidu by 9.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,607,166 shares of the information services provider’s stock worth $572,096,000 after acquiring an additional 306,202 shares during the period. Norges Bank purchased a new position in shares of Baidu during the 4th quarter worth $526,416,000. Finally, Comgest Global Investors S.A.S. raised its holdings in shares of Baidu by 15.4% during the 4th quarter. Comgest Global Investors S.A.S. now owns 3,180,255 shares of the information services provider’s stock worth $504,389,000 after acquiring an additional 425,375 shares during the period. 60.69% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the stock. KeyCorp set a $220.00 price objective on shares of Baidu and gave the company an “overweight” rating in a report on Tuesday, April 23rd. They noted that the move was a valuation call. UBS Group downgraded Baidu from a “buy” rating to a “neutral” rating in a report on Monday. Daiwa Capital Markets set a $215.00 price objective on Baidu and gave the company a “buy” rating in a research note on Friday, March 8th. ValuEngine upgraded Baidu from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, BidaskClub lowered Baidu from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Baidu presently has an average rating of “Hold” and an average target price of $196.13.

Shares of BIDU stock traded down $2.09 during trading hours on Wednesday, hitting $118.40. The company had a trading volume of 4,857,496 shares, compared to its average volume of 3,602,484. Baidu Inc has a 12 month low of $116.78 and a 12 month high of $274.00. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.31. The firm has a market cap of $44.82 billion, a P/E ratio of 15.18, a P/E/G ratio of 3.66 and a beta of 1.44.

Baidu announced that its Board of Directors has approved a stock buyback program on Thursday, May 16th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the information services provider to buy up to 1.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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Baidu Profile

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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