SG Americas Securities LLC Increases Holdings in Baidu Inc (NASDAQ:BIDU)

SG Americas Securities LLC raised its stake in Baidu Inc (NASDAQ:BIDU) by 604.1% during the second quarter, HoldingsChannel.com reports. The fund owned 1,576,463 shares of the information services provider’s stock after acquiring an additional 1,352,573 shares during the quarter. Baidu accounts for about 1.3% of SG Americas Securities LLC’s holdings, making the stock its 8th largest position. SG Americas Securities LLC’s holdings in Baidu were worth $185,014,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Baidu by 4.3% during the first quarter. BlackRock Inc. now owns 15,784,632 shares of the information services provider’s stock worth $2,602,096,000 after purchasing an additional 653,684 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Baidu by 219.8% during the first quarter. Bank of Montreal Can now owns 792,685 shares of the information services provider’s stock worth $130,674,000 after purchasing an additional 544,799 shares during the last quarter. Thoroughbred Financial Services LLC grew its holdings in shares of Baidu by 11,526.3% during the second quarter. Thoroughbred Financial Services LLC now owns 360,647 shares of the information services provider’s stock worth $36,065,000 after purchasing an additional 357,545 shares during the last quarter. Newport Asia LLC grew its holdings in shares of Baidu by 242.2% during the first quarter. Newport Asia LLC now owns 449,600 shares of the information services provider’s stock worth $100,346,000 after purchasing an additional 318,200 shares during the last quarter. Finally, Pzena Investment Management LLC grew its holdings in shares of Baidu by 67.1% during the first quarter. Pzena Investment Management LLC now owns 717,245 shares of the information services provider’s stock worth $118,237,000 after purchasing an additional 288,007 shares during the last quarter. Hedge funds and other institutional investors own 59.61% of the company’s stock.

BIDU has been the topic of several research analyst reports. Daiwa Capital Markets cut Baidu from a “buy” rating to a “neutral” rating in a report on Friday, May 17th. Jefferies Financial Group initiated coverage on Baidu in a report on Monday. They set a “buy” rating and a $132.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on Baidu in a report on Wednesday, July 10th. They set an “overweight” rating on the stock. Nomura decreased their target price on Baidu from $181.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, May 20th. Finally, Mizuho decreased their target price on Baidu from $215.00 to $205.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. Baidu currently has a consensus rating of “Hold” and an average price target of $175.74.

Baidu stock traded down $0.23 during mid-day trading on Thursday, hitting $98.96. The stock had a trading volume of 221,667 shares, compared to its average volume of 3,069,782. The firm’s 50-day moving average is $113.70. The firm has a market cap of $34.99 billion, a PE ratio of 12.71, a PEG ratio of 5.40 and a beta of 1.70. Baidu Inc has a 12 month low of $97.77 and a 12 month high of $234.88. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.76 and a quick ratio of 2.76.

Baidu declared that its board has initiated a stock repurchase plan on Thursday, May 16th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the information services provider to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Baidu

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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