Atomi Financial Group Inc. Buys New Position in Baidu, Inc. (NASDAQ:BIDU)

Atomi Financial Group Inc. purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,076 shares of the information services provider’s stock, valued at approximately $219,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB increased its position in shares of Baidu by 14.5% during the first quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock worth $42,125,000 after buying an additional 50,599 shares during the period. SRN Advisors LLC raised its position 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 worth $1,652,000 after acquiring 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 during the period. Perpetual Ltd boosted its position in shares of Baidu by 45.4% during the 1st quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock valued at $15,451,000 after purchasing an additional 45,975 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC acquired a new stake in Baidu during the first quarter worth approximately $216,000.

Baidu Stock Performance

Shares of BIDU stock opened at $103.80 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The firm has a 50-day moving average of $90.71 and a 200-day moving average of $95.33. Baidu, Inc. has a one year low of $79.68 and a one year high of $134.04. The company has a market cap of $36.40 billion, a P/E ratio of 13.68 and a beta of 0.49.

Wall Street Analysts Forecast Growth

BIDU has been the topic of several recent analyst reports. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Bank of America cut their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Susquehanna decreased their price target on shares of Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research note on Thursday, September 5th. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Tuesday, September 24th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Baidu has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

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.