Rafferty Asset Management LLC grew its position in Baidu, Inc. (NASDAQ:BIDU) by 26.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,228 shares of the information services provider’s stock after buying an additional 1,718 shares during the quarter. Rafferty Asset Management LLC’s holdings in Baidu were worth $1,472,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in BIDU. Grove Bank & Trust increased its position in shares of Baidu by 74.2% in the second quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock valued at $106,000 after buying an additional 253 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new position in shares of Baidu in the second quarter valued at $112,000. Harbour Capital Advisors LLC increased its position in shares of Baidu by 17,786.3% in the second quarter. Harbour Capital Advisors LLC now owns 20,927 shares of the information services provider’s stock valued at $117,000 after buying an additional 20,810 shares in the last quarter. Highstreet Asset Management Inc. purchased a new position in shares of Baidu in the second quarter valued at $146,000. Finally, Integrated Investment Consultants LLC purchased a new position in shares of Baidu in the second quarter valued at $152,000. Institutional investors and hedge funds own 64.14% of the company’s stock.

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A number of research analysts have recently weighed in on BIDU shares. ValuEngine upgraded Baidu from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Vetr upgraded Baidu from a “buy” rating to a “strong-buy” rating and set a $205.36 price target for the company in a research report on Monday, June 12th. BidaskClub cut Baidu from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Jefferies Group LLC restated a “buy” rating and issued a $208.00 price target on shares of Baidu in a research report on Monday, June 19th. Finally, TheStreet cut Baidu from a “b-” rating to a “c+” rating in a research report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $215.51.

Baidu, Inc. (NASDAQ:BIDU) opened at 240.57 on Friday. The stock has a 50 day moving average price of $227.76 and a 200 day moving average price of $193.39. Baidu, Inc. has a 1-year low of $159.54 and a 1-year high of $242.70. The firm has a market capitalization of $83.42 billion, a price-to-earnings ratio of 44.36 and a beta of 1.98.

Baidu Company Profile

Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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