QCM Cayman Ltd. Takes $218,000 Position in Baidu Inc (NASDAQ:BIDU)

QCM Cayman Ltd. purchased a new stake in Baidu Inc (NASDAQ:BIDU) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,322 shares of the information services provider’s stock, valued at approximately $218,000. Baidu accounts for 4.1% of QCM Cayman Ltd.’s investment portfolio, making the stock its 12th biggest position.

Several other hedge funds also recently bought and sold shares of the company. Bank of Montreal Can grew its holdings in Baidu by 219.8% in the 1st quarter. Bank of Montreal Can now owns 792,685 shares of the information services provider’s stock worth $130,674,000 after acquiring an additional 544,799 shares during the last quarter. Polen Capital Management LLC grew its holdings in Baidu by 19.3% in the 4th quarter. Polen Capital Management LLC now owns 38,666 shares of the information services provider’s stock worth $6,132,000 after acquiring an additional 6,267 shares during the last quarter. Pzena Investment Management LLC grew its holdings in Baidu by 9.8% in the 4th quarter. Pzena Investment Management LLC now owns 429,238 shares of the information services provider’s stock worth $68,078,000 after acquiring an additional 38,419 shares during the last quarter. Strs Ohio bought a new stake in Baidu in the 1st quarter worth $9,891,000. Finally, YorkBridge Wealth Partners LLC grew its holdings in Baidu by 8.6% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 2,739 shares of the information services provider’s stock worth $452,000 after acquiring an additional 218 shares during the last quarter. 59.78% of the stock is currently owned by institutional investors.

Shares of BIDU stock traded up $4.63 during mid-day trading on Tuesday, hitting $116.40. The company had a trading volume of 2,956,848 shares, compared to its average volume of 6,512,067. Baidu Inc has a 52-week low of $106.80 and a 52-week high of $274.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.76 and a current ratio of 2.76. The company has a market capitalization of $38.36 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 5.97 and a beta of 1.69.

Baidu declared that its board has approved a stock repurchase program on Thursday, May 16th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the information services provider to buy up to 1.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Baidu from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 26th. Loop Capital began coverage on shares of Baidu in a research report on Monday, June 3rd. They issued a “hold” rating and a $125.00 price target for the company. BidaskClub upgraded shares of Baidu from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 4th. Oppenheimer lowered shares of Baidu from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 10th. Finally, China Renaissance Securities reiterated a “hold” rating on shares of Baidu in a research report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. Baidu currently has an average rating of “Hold” and an average price target of $191.69.

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Baidu Profile

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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