Park Avenue Securities LLC Makes New $559,000 Investment in Baidu, Inc. (NASDAQ:BIDU)

Park Avenue Securities LLC acquired a new position in shares of Baidu, Inc. (NASDAQ:BIDU) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,306 shares of the information services provider’s stock, valued at approximately $559,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIDU. LPL Financial LLC boosted its position in Baidu by 4.2% during the third quarter. LPL Financial LLC now owns 44,523 shares of the information services provider’s stock worth $5,982,000 after purchasing an additional 1,807 shares during the period. Mariner LLC boosted its position in Baidu by 9.2% during the third quarter. Mariner LLC now owns 8,988 shares of the information services provider’s stock worth $1,208,000 after purchasing an additional 755 shares during the period. Northern Trust Corp boosted its position in shares of Baidu by 1.2% in the third quarter. Northern Trust Corp now owns 179,688 shares of the information services provider’s stock valued at $24,141,000 after acquiring an additional 2,202 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of Baidu by 13.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 8,201 shares of the information services provider’s stock valued at $1,102,000 after acquiring an additional 964 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Baidu by 66,577.8% in the third quarter. Tower Research Capital LLC TRC now owns 6,001 shares of the information services provider’s stock valued at $806,000 after acquiring an additional 5,992 shares during the period.

Wall Street Analysts Forecast Growth

BIDU has been the subject of several recent analyst reports. Morgan Stanley cut shares of Baidu from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $140.00 to $125.00 in a research report on Friday, May 17th. Susquehanna cut their price objective on shares of Baidu from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Friday, May 24th. Mizuho lowered their target price on Baidu from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Macquarie downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Finally, HSBC lowered their target price on Baidu from $157.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Baidu has an average rating of “Moderate Buy” and a consensus target price of $156.64.

Baidu Price Performance

Baidu stock opened at $86.48 on Friday. The stock has a market capitalization of $30.32 billion, a price-to-earnings ratio of 11.58 and a beta of 0.52. Baidu, Inc. has a 52-week low of $86.43 and a 52-week high of $156.98. The stock’s 50 day moving average price is $99.92 and its two-hundred day moving average price is $104.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.79 and a current ratio of 2.79.

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.