TCG Advisory Services LLC Acquires New Shares in Baidu, Inc. (NASDAQ:BIDU)

TCG Advisory Services LLC purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,982 shares of the information services provider’s stock, valued at approximately $355,000.

Other hedge funds have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC acquired a new stake in Baidu during the 4th quarter worth about $25,000. Headinvest LLC acquired a new position in shares of Baidu in the third quarter valued at $36,000. FNY Investment Advisers LLC bought a new stake in Baidu in the fourth quarter valued at about $42,000. ING Groep NV grew its stake in shares of Baidu by 103.2% in the 3rd quarter. ING Groep NV now owns 443 shares of the information services provider’s stock valued at $60,000 after purchasing an additional 225 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Baidu during the 3rd quarter valued at about $73,000.

Baidu Price Performance

Shares of Baidu stock traded down $0.39 during trading hours on Monday, hitting $113.02. The company’s stock had a trading volume of 742,917 shares, compared to its average volume of 3,415,746. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.01 and a current ratio of 3.01. Baidu, Inc. has a 12-month low of $94.25 and a 12-month high of $156.98. The business has a 50 day moving average price of $103.01 and a two-hundred day moving average price of $108.03. The company has a market cap of $39.63 billion, a PE ratio of 14.70 and a beta of 0.68.

Analysts Set New Price Targets

BIDU has been the subject of several analyst reports. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. Benchmark dropped their price target on shares of Baidu from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday. Citigroup decreased their price target on shares of Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a research note on Tuesday, April 9th. HSBC decreased their target price on shares of Baidu from $157.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Finally, Barclays cut their price objective on shares of Baidu from $138.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $169.50.

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.