Janney Montgomery Scott LLC Makes New Investment in Baidu, Inc. (NASDAQ:BIDU)

Janney Montgomery Scott LLC purchased a new position in Baidu, Inc. (NASDAQ:BIDU) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,406 shares of the information services provider’s stock, valued at approximately $1,201,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. SRN Advisors LLC lifted its stake in shares of Baidu by 111.5% in the 1st quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock valued at $1,652,000 after purchasing an additional 8,272 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Baidu by 8.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock valued at $19,249,000 after purchasing an additional 15,000 shares in the last quarter. Clear Harbor Asset Management LLC lifted its stake in shares of Baidu by 82.9% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock valued at $2,159,000 after purchasing an additional 9,292 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Baidu in the 2nd quarter valued at about $606,000. Finally, Swedbank AB acquired a new position in shares of Baidu in the 1st quarter valued at about $4,351,000.

Baidu Price Performance

Shares of NASDAQ BIDU opened at $84.58 on Friday. Baidu, Inc. has a twelve month low of $79.68 and a twelve month high of $126.23. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $29.66 billion, a price-to-earnings ratio of 11.10 and a beta of 0.51. The business has a 50 day simple moving average of $93.53 and a 200-day simple moving average of $93.69.

Analysts Set New Price Targets

Several research firms recently commented on BIDU. Mizuho reduced their price target on Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday. Loop Capital reduced their price target on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Jefferies Financial Group reduced their price target on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Hsbc Global Res lowered Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Barclays reduced their price target on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.29.

About Baidu

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.