SPX Gestao de Recursos Ltda Trims Stake in Baidu, Inc. (NASDAQ:BIDU)

SPX Gestao de Recursos Ltda decreased its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 0.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,979 shares of the information services provider’s stock after selling 838 shares during the quarter. Baidu comprises about 2.4% of SPX Gestao de Recursos Ltda’s investment portfolio, making the stock its 10th largest position. SPX Gestao de Recursos Ltda owned about 0.05% of Baidu worth $16,343,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Crossmark Global Holdings Inc. raised its position in shares of Baidu by 0.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock valued at $3,498,000 after buying an additional 99 shares in the last quarter. Guinness Asset Management LTD lifted its stake in shares of Baidu by 4.4% in the 2nd quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock valued at $204,000 after purchasing an additional 100 shares during the last quarter. Beacon Financial Group lifted its stake in shares of Baidu by 7.2% in the 4th quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock valued at $226,000 after purchasing an additional 128 shares during the last quarter. Ignite Planners LLC boosted its holdings in shares of Baidu by 3.8% in the 1st quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock worth $411,000 after purchasing an additional 139 shares during the period. Finally, Blue Trust Inc. raised its holdings in Baidu by 9.0% during the 2nd quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock valued at $180,000 after buying an additional 171 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have commented on BIDU. Bank of America dropped their price objective on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Sanford C. Bernstein lowered shares of Baidu from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $130.00 to $97.00 in a research report on Friday, August 23rd. Susquehanna dropped their target price on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. HSBC cut Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research note on Tuesday, September 24th. Finally, StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.13.

Baidu Trading Up 0.1 %

NASDAQ BIDU opened at $105.29 on Tuesday. Baidu, Inc. has a one year low of $79.68 and a one year high of $135.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The company has a market capitalization of $36.92 billion, a price-to-earnings ratio of 14.10 and a beta of 0.48. The company’s 50-day simple moving average is $87.05 and its two-hundred day simple moving average is $95.03.

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.